Zayo Group (ZAYO) Research Coverage Started at Jefferies Financial Group

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Jefferies Financial Group started coverage on shares of Zayo Group (NYSE:ZAYO) in a report released on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $49.00 target price on the technology company’s stock.

Several other equities research analysts have also weighed in on the stock. TheStreet upgraded shares of Zayo Group from a c+ rating to a b- rating in a research note on Friday, August 24th. ValuEngine lowered shares of Zayo Group from a buy rating to a hold rating in a research note on Thursday, August 23rd. William Blair reiterated an outperform rating on shares of Zayo Group in a research note on Thursday, August 23rd. Zacks Investment Research lowered shares of Zayo Group from a hold rating to a sell rating in a research note on Thursday, August 16th. Finally, Bank of America began coverage on shares of Zayo Group in a research note on Friday, May 18th. They set a buy rating and a $43.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. Zayo Group presently has an average rating of Buy and a consensus target price of $42.80.

ZAYO opened at $34.40 on Tuesday. The stock has a market cap of $8.55 billion, a P/E ratio of 56.10, a price-to-earnings-growth ratio of 13.42 and a beta of 0.43. Zayo Group has a fifty-two week low of $32.91 and a fifty-two week high of $39.66. The company has a current ratio of 1.02, a quick ratio of 1.11 and a debt-to-equity ratio of 3.90.

Zayo Group (NYSE:ZAYO) last released its quarterly earnings data on Wednesday, August 22nd. The technology company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.09. The firm had revenue of $657.60 million for the quarter, compared to analyst estimates of $655.78 million. Zayo Group had a net margin of 3.91% and a return on equity of 9.97%. Zayo Group’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. sell-side analysts predict that Zayo Group will post 0.52 earnings per share for the current fiscal year.

In other Zayo Group news, CEO Daniel Caruso sold 15,099 shares of the firm’s stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $37.77, for a total value of $570,289.23. Following the sale, the chief executive officer now owns 3,553,349 shares in the company, valued at $134,209,991.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard W. Connor sold 1,096 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $37.41, for a total transaction of $41,001.36. Following the completion of the sale, the director now owns 147,281 shares in the company, valued at approximately $5,509,782.21. The disclosure for this sale can be found here. Insiders sold 297,521 shares of company stock worth $11,197,143 in the last 90 days. 5.20% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Zayo Group by 11.0% in the first quarter. JPMorgan Chase & Co. now owns 15,661 shares of the technology company’s stock valued at $535,000 after acquiring an additional 1,548 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Zayo Group by 77.4% in the first quarter. GSA Capital Partners LLP now owns 37,965 shares of the technology company’s stock valued at $1,297,000 after acquiring an additional 16,560 shares in the last quarter. State of Wisconsin Investment Board boosted its holdings in shares of Zayo Group by 29.1% in the second quarter. State of Wisconsin Investment Board now owns 218,827 shares of the technology company’s stock valued at $7,983,000 after acquiring an additional 49,375 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Zayo Group by 60.6% in the second quarter. Canada Pension Plan Investment Board now owns 7,871,578 shares of the technology company’s stock valued at $287,155,000 after acquiring an additional 2,971,505 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Zayo Group by 7.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 741,954 shares of the technology company’s stock valued at $25,346,000 after acquiring an additional 49,689 shares in the last quarter. Institutional investors own 93.94% of the company’s stock.

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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Analyst Recommendations for Zayo Group (NYSE:ZAYO)

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