Zayo Group (NYSE:ZAYO) had its price objective upped by Deutsche Bank from $30.00 to $31.00 in a research note issued to investors on Monday. Deutsche Bank currently has a buy rating on the technology company’s stock.
A number of other equities research analysts have also recently commented on the company. ValuEngine cut Zayo Group from a hold rating to a sell rating in a research note on Monday, February 4th. Craig Hallum assumed coverage on Zayo Group in a research note on Wednesday, January 23rd. They issued a buy rating and a $45.00 price objective for the company. Zacks Investment Research raised Zayo Group from a sell rating to a hold rating in a research note on Saturday, January 19th. JPMorgan Chase & Co. raised Zayo Group from a neutral rating to an overweight rating and set a $25.48 price objective for the company in a research note on Wednesday, November 28th. Finally, Oppenheimer reduced their price objective on Zayo Group to $30.00 and set an outperform rating for the company in a research note on Friday, November 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Zayo Group has an average rating of Buy and an average target price of $35.32.
NYSE ZAYO opened at $25.51 on Monday. Zayo Group has a one year low of $20.27 and a one year high of $39.66. The company has a market cap of $6.22 billion, a P/E ratio of 41.82, a price-to-earnings-growth ratio of 3.23 and a beta of 0.92. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 3.75.
Zayo Group (NYSE:ZAYO) last released its earnings results on Thursday, February 7th. The technology company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). Zayo Group had a return on equity of 7.82% and a net margin of 4.62%. The business had revenue of $639.10 million for the quarter, compared to analyst estimates of $641.73 million. During the same period in the prior year, the business earned $0.05 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, research analysts predict that Zayo Group will post 0.54 EPS for the current fiscal year.
In related news, CFO Matt Steinfort sold 6,142 shares of Zayo Group stock in a transaction that occurred on Thursday, January 3rd. The stock was sold at an average price of $24.16, for a total transaction of $148,390.72. Following the transaction, the chief financial officer now owns 22,896 shares of the company’s stock, valued at $553,167.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO John F. Jr. Waters sold 5,548 shares of Zayo Group stock in a transaction that occurred on Thursday, January 3rd. The shares were sold at an average price of $24.16, for a total value of $134,039.68. Following the transaction, the chief technology officer now directly owns 87,309 shares in the company, valued at approximately $2,109,385.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,144 shares of company stock worth $390,039. 4.50% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Macquarie Group Ltd. lifted its holdings in Zayo Group by 6.1% during the third quarter. Macquarie Group Ltd. now owns 142,275 shares of the technology company’s stock worth $4,940,000 after acquiring an additional 8,175 shares during the period. Levin Capital Strategies L.P. bought a new stake in Zayo Group during the fourth quarter worth $13,460,000. Bank of New York Mellon Corp lifted its holdings in Zayo Group by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 941,186 shares of the technology company’s stock worth $32,678,000 after acquiring an additional 46,617 shares during the period. Cerebellum GP LLC lifted its holdings in Zayo Group by 111.0% during the fourth quarter. Cerebellum GP LLC now owns 11,407 shares of the technology company’s stock worth $261,000 after acquiring an additional 6,001 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Zayo Group during the fourth quarter worth $240,000. 98.56% of the stock is currently owned by institutional investors.
About Zayo Group
Zayo Group Holdings, Inc, through its subsidiaries, provides bandwidth infrastructure solutions for the communications industry in the United States, Canada, and Europe. The company operates in six segments: Fiber Solutions, Transport, Enterprise Networks, Zayo Colocation (zColo), Allstream, and Other.
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