Zayo Group (ZAYO) PT Raised to $45.00 at SunTrust Banks

Zayo Group (NYSE:ZAYO) had its price target raised by SunTrust Banks to $45.00 in a research note issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the technology company’s stock. SunTrust Banks’ price target suggests a potential upside of 23.93% from the company’s previous close.

A number of other equities research analysts have also issued reports on ZAYO. BidaskClub lowered Zayo Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Barclays reaffirmed a “buy” rating and set a $41.00 target price on shares of Zayo Group in a research report on Friday, January 19th. TheStreet raised Zayo Group from a “c” rating to a “b-” rating in a research report on Tuesday, October 17th. Cowen reaffirmed a “buy” rating on shares of Zayo Group in a research report on Friday, November 10th. Finally, UBS Group assumed coverage on Zayo Group in a research report on Tuesday, October 17th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.36.

Shares of Zayo Group (NYSE:ZAYO) opened at $36.31 on Thursday. The stock has a market capitalization of $8,917.53, a price-to-earnings ratio of 98.14, a PEG ratio of 14.67 and a beta of 0.47. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.81. Zayo Group has a 52-week low of $29.73 and a 52-week high of $37.49.

Zayo Group (NYSE:ZAYO) last announced its earnings results on Monday, November 6th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Zayo Group had a return on equity of 8.01% and a net margin of 3.99%. research analysts anticipate that Zayo Group will post 0.49 EPS for the current fiscal year.

In other Zayo Group news, CFO Matt Steinfort sold 1,891 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $36.36, for a total value of $68,756.76. Following the transaction, the chief financial officer now directly owns 5,565 shares of the company’s stock, valued at approximately $202,343.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel Caruso sold 123,738 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $36.80, for a total value of $4,553,558.40. Following the completion of the transaction, the chief executive officer now directly owns 4,286,654 shares in the company, valued at $157,748,867.20. The disclosure for this sale can be found here. Insiders have sold 4,974,932 shares of company stock worth $178,752,336 over the last three months. 5.20% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Pegasus Partners Ltd. acquired a new position in Zayo Group in the 4th quarter worth about $2,401,000. Connable Office Inc. increased its position in Zayo Group by 27.6% in the 4th quarter. Connable Office Inc. now owns 106,161 shares of the technology company’s stock worth $3,907,000 after purchasing an additional 22,974 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Zayo Group in the 4th quarter worth about $389,000. Swiss National Bank increased its position in Zayo Group by 0.6% in the 4th quarter. Swiss National Bank now owns 811,600 shares of the technology company’s stock worth $29,867,000 after purchasing an additional 5,100 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Zayo Group by 7.9% in the 4th quarter. California Public Employees Retirement System now owns 373,060 shares of the technology company’s stock worth $13,729,000 after purchasing an additional 27,348 shares during the last quarter. 84.71% of the stock is currently owned by institutional investors.

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Zayo Group 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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