Zayo Group (NYSE:ZAYO)‘s stock had its “buy” rating restated by investment analysts at SunTrust Banks in a report issued on Thursday, December 7th. They currently have a $45.00 target price on the technology company’s stock. SunTrust Banks’ price objective indicates a potential upside of 23.80% from the company’s previous close.
A number of other equities analysts also recently issued reports on ZAYO. Moffett Nathanson restated a “neutral” rating and issued a $39.00 price target (up from $34.00) on shares of Zayo Group in a research note on Thursday, September 28th. Stifel Nicolaus restated a “buy” rating on shares of Zayo Group in a research note on Tuesday, August 22nd. BidaskClub downgraded Zayo Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Cowen reiterated an “outperform” rating and set a $45.00 target price on shares of Zayo Group in a research report on Wednesday, August 23rd. Finally, TheStreet upgraded Zayo Group from a “c” rating to a “b-” rating in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $39.46.
Zayo Group (ZAYO) traded down $0.45 during trading on Thursday, hitting $36.35. The company’s stock had a trading volume of 2,030,464 shares, compared to its average volume of 1,726,800. The company has a market cap of $9,103.05, a price-to-earnings ratio of 98.24, a price-to-earnings-growth ratio of 14.98 and a beta of 0.53. Zayo Group has a twelve month low of $29.30 and a twelve month high of $37.26. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.81.
In other Zayo Group news, CEO Daniel Caruso sold 58,634 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $34.55, for a total transaction of $2,025,804.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emily White bought 43,095 shares of the company’s stock in a transaction on Monday, December 11th. The shares were acquired at an average price of $34.99 per share, with a total value of $1,507,894.05. Following the transaction, the director now directly owns 3,906 shares of the company’s stock, valued at $136,670.94. The disclosure for this purchase can be found here. Insiders sold 4,759,446 shares of company stock worth $170,784,184 over the last ninety days. Insiders own 5.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. boosted its holdings in shares of Zayo Group by 2,600.0% in the third quarter. Thompson Davis & CO. Inc. now owns 3,375 shares of the technology company’s stock valued at $116,000 after purchasing an additional 3,250 shares during the period. Mutual of America Capital Management LLC purchased a new stake in Zayo Group during the second quarter worth $142,000. Rehmann Capital Advisory Group purchased a new stake in Zayo Group during the third quarter worth $212,000. Cadence Capital Management LLC purchased a new stake in Zayo Group during the third quarter worth $232,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Zayo Group during the third quarter worth $235,000. Hedge funds and other institutional investors own 84.07% of the company’s stock.
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About Zayo Group
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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