Oppenheimer Holdings Inc. reiterated their outperform rating on shares of Zayo Group Holdings Inc (NYSE:ZAYO) in a research note issued to investors on Friday. The firm currently has a $42.00 price target on the technology company’s stock, up from their prior price target of $36.00.
Several other equities analysts have also commented on the company. Barclays PLC reiterated an overweight rating and issued a $38.00 target price on shares of Zayo Group Holdings in a research note on Thursday, March 30th. Cowen and Company reiterated an outperform rating on shares of Zayo Group Holdings in a research note on Wednesday, April 19th. BTIG Research reiterated a buy rating and issued a $41.00 target price (up from $36.00) on shares of Zayo Group Holdings in a research note on Friday, January 20th. Citigroup Inc upped their target price on Zayo Group Holdings from $38.00 to $43.00 and gave the company a buy rating in a research note on Tuesday, April 25th. Finally, Zacks Investment Research lowered Zayo Group Holdings from a buy rating to a hold rating in a research note on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $37.29.
Shares of Zayo Group Holdings (NYSE:ZAYO) opened at 31.12 on Friday. Zayo Group Holdings has a one year low of $26.10 and a one year high of $35.65. The stock has a market capitalization of $7.65 billion, a PE ratio of 239.38 and a beta of 0.61. The firm has a 50-day moving average price of $33.49 and a 200 day moving average price of $32.76.
Zayo Group Holdings (NYSE:ZAYO) last released its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.03. Zayo Group Holdings had a positive return on equity of 1.53% and a negative net margin of 0.74%. The company had revenue of $550.20 million during the quarter, compared to analysts’ expectations of $545.63 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities analysts expect that Zayo Group Holdings will post $0.38 EPS for the current fiscal year.
In other news, Director Richard W. Connor sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the completion of the sale, the director now owns 141,883 shares of the company’s stock, valued at $4,965,905. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Desgarennes sold 38,885 shares of the company’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $31.27, for a total value of $1,215,933.95. Following the completion of the sale, the chief financial officer now directly owns 1,016,606 shares of the company’s stock, valued at approximately $31,789,269.62. The disclosure for this sale can be found here. Insiders sold 903,199 shares of company stock valued at $29,891,822 in the last ninety days. Company insiders own 5.80% of the company’s stock.
Large investors have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd bought a new stake in shares of Zayo Group Holdings during the first quarter valued at $151,000. Janus Capital Management LLC increased its stake in shares of Zayo Group Holdings by 505.4% in the first quarter. Janus Capital Management LLC now owns 1,385,200 shares of the technology company’s stock valued at $45,573,000 after buying an additional 1,156,400 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Zayo Group Holdings during the first quarter valued at $503,000. Brookfield Asset Management Inc. bought a new stake in shares of Zayo Group Holdings during the first quarter valued at $2,148,000. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Zayo Group Holdings during the first quarter valued at $28,222,000. 67.35% of the stock is owned by institutional investors.
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.
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