Zayo Group Holdings’ (ZAYO) Buy Rating Reaffirmed at Cowen and Company

Cowen and Company reaffirmed their buy rating on shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) in a report published on Friday.

ZAYO has been the topic of a number of other reports. Zacks Investment Research downgraded Zayo Group Holdings from a hold rating to a sell rating in a report on Thursday, November 9th. Moffett Nathanson restated a neutral rating and issued a $39.00 price objective (up from $34.00) on shares of Zayo Group Holdings in a report on Thursday, September 28th. BidaskClub downgraded Zayo Group Holdings from a hold rating to a sell rating in a report on Wednesday, October 11th. Stifel Nicolaus restated a buy rating on shares of Zayo Group Holdings in a report on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. restated a buy rating and issued a $42.00 price objective on shares of Zayo Group Holdings in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $38.46.

Shares of Zayo Group Holdings (NYSE ZAYO) opened at $33.99 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.81. Zayo Group Holdings has a 52 week low of $29.30 and a 52 week high of $36.79. The stock has a market capitalization of $8,415.38, a PE ratio of 75.60, a price-to-earnings-growth ratio of 13.85 and a beta of 0.56.

Zayo Group Holdings (NYSE:ZAYO) last issued its quarterly earnings results on Monday, August 21st. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Zayo Group Holdings had a return on equity of 8.01% and a net margin of 3.99%. The business had revenue of $638.00 million during the quarter, compared to analyst estimates of $642.67 million. During the same period in the previous year, the business posted ($0.13) earnings per share. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. equities analysts predict that Zayo Group Holdings will post 0.49 earnings per share for the current year.

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In other Zayo Group Holdings news, major shareholder Fund X/C Lp Gtcr sold 4,700,000 shares of Zayo Group Holdings stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $34.35, for a total transaction of $161,445,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kenneth Desgarennes sold 38,885 shares of Zayo Group Holdings stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $34.08, for a total value of $1,325,200.80. Following the sale, the chief financial officer now owns 1,018,044 shares in the company, valued at $34,694,939.52. The disclosure for this sale can be found here. Insiders have sold a total of 5,271,311 shares of company stock worth $180,967,923 over the last 90 days. 5.20% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of ZAYO. Carmignac Gestion purchased a new stake in Zayo Group Holdings during the 2nd quarter worth approximately $150,427,000. Neuberger Berman Group LLC increased its holdings in Zayo Group Holdings by 43,789.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,707,985 shares of the technology company’s stock worth $83,677,000 after purchasing an additional 2,701,815 shares during the last quarter. USS Investment Management Ltd purchased a new stake in Zayo Group Holdings during the 2nd quarter worth approximately $63,335,000. Janus Henderson Group PLC increased its holdings in Zayo Group Holdings by 13,304.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,420,376 shares of the technology company’s stock worth $43,890,000 after purchasing an additional 1,409,780 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Zayo Group Holdings by 8.9% during the 2nd quarter. Vanguard Group Inc. now owns 13,786,315 shares of the technology company’s stock worth $425,998,000 after purchasing an additional 1,127,326 shares during the last quarter. Institutional investors own 78.15% of the company’s stock.

Zayo Group Holdings Company Profile

Zayo Group Holdings, Inc provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to a range of businesses. The Company operates in five segments: Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other.

Analyst Recommendations for Zayo Group Holdings (NYSE:ZAYO)

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