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.
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.
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.
Receive News & Ratings for Zayo Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zayo Group and related companies with MarketBeat.com's FREE daily email newsletter.