Zayo Group Holdings, Inc. (NYSE:ZAYO)‘s stock had its “outperform” rating restated by stock analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Friday, May 12th. They currently have a $42.00 price target on the technology company’s stock, up from their previous price target of $36.00. Oppenheimer Holdings, Inc.’s price target would suggest a potential upside of 30.11% from the company’s previous close.
A number of other research analysts also recently weighed in on the company. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Zayo Group Holdings in a research note on Wednesday, May 10th. J P Morgan Chase & Co downgraded Zayo Group Holdings from an “overweight” rating to a “neutral” rating and increased their price target for the company from $35.00 to $36.00 in a research note on Wednesday, May 10th. Zacks Investment Research raised Zayo Group Holdings from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, May 3rd. Citigroup Inc. upped their price objective on shares of Zayo Group Holdings from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Finally, Cowen and Company restated an “outperform” rating on shares of Zayo Group Holdings in a research report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $37.29.
Shares of Zayo Group Holdings (ZAYO) traded up 0.47% during mid-day trading on Friday, hitting $32.28. The stock had a trading volume of 1,852,069 shares. Zayo Group Holdings has a 12-month low of $26.10 and a 12-month high of $35.65. The firm has a market cap of $7.93 billion, a P/E ratio of 248.31 and a beta of 0.54. The company has a 50 day moving average price of $32.58 and a 200 day moving average price of $32.56.
Zayo Group Holdings (NYSE:ZAYO) last posted its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.03. The company had revenue of $550.20 million for the quarter, compared to the consensus estimate of $545.63 million. Zayo Group Holdings had a return on equity of 5.47% and a net margin of 1.53%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) EPS. Equities analysts forecast that Zayo Group Holdings will post $0.40 earnings per share for the current fiscal year.
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In other Zayo Group Holdings news, CFO Kenneth Desgarennes sold 38,885 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $33.19, for a total transaction of $1,290,593.15. Following the completion of the sale, the chief financial officer now directly owns 986,963 shares in the company, valued at $32,757,301.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Caruso sold 22,570 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $32.80, for a total transaction of $740,296.00. Following the sale, the chief executive officer now owns 4,786,546 shares of the company’s stock, valued at $156,998,708.80. The disclosure for this sale can be found here. Insiders sold a total of 830,460 shares of company stock valued at $27,508,489 over the last quarter. 5.80% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Bradley Foster & Sargent Inc. CT acquired a new position in shares of Zayo Group Holdings during the third quarter worth approximately $1,085,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in Zayo Group Holdings during the third quarter valued at approximately $44,938,000. LMR Partners LLP acquired a new stake in Zayo Group Holdings during the third quarter valued at approximately $3,056,000. First Trust Advisors LP increased its stake in Zayo Group Holdings by 1,658.9% in the third quarter. First Trust Advisors LP now owns 2,339,520 shares of the technology company’s stock valued at $69,507,000 after buying an additional 2,206,513 shares during the last quarter. Finally, Three Peaks Capital Management LLC increased its stake in Zayo Group Holdings by 22.7% in the third quarter. Three Peaks Capital Management LLC now owns 417,225 shares of the technology company’s stock valued at $12,396,000 after buying an additional 77,137 shares during the last quarter. 74.85% of the stock is currently owned by hedge funds and other institutional investors.
About Zayo Group Holdings
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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