ValuEngine Lowers Zayo Group (ZAYO) to Sell

Zayo Group (NYSE:ZAYO) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Monday, February 4th.

ZAYO has been the subject of several other research reports. Zacks Investment Research raised shares of Zayo Group from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. SunTrust Banks reaffirmed a “buy” rating and set a $38.00 price target on shares of Zayo Group in a research report on Thursday, November 8th. UBS Group lowered shares of Zayo Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $32.00 in a research report on Thursday, November 8th. Deutsche Bank dropped their price objective on shares of Zayo Group from $42.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Finally, Craig Hallum began coverage on shares of Zayo Group in a research report on Wednesday, January 23rd. They issued a “buy” rating and a $45.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Zayo Group currently has an average rating of “Buy” and a consensus target price of $35.32.

Shares of NYSE ZAYO traded up $0.27 on Monday, hitting $25.07. The company’s stock had a trading volume of 2,590,033 shares, compared to its average volume of 5,898,593. Zayo Group has a 12-month low of $20.27 and a 12-month high of $39.66. The company has a market capitalization of $6.06 billion, a PE ratio of 41.10, a price-to-earnings-growth ratio of 9.07 and a beta of 0.92. The company has a debt-to-equity ratio of 5.13, a current ratio of 0.85 and a quick ratio of 0.85.

Zayo Group (NYSE:ZAYO) last announced its quarterly earnings results on Thursday, February 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). The business had revenue of $639.10 million during the quarter, compared to analysts’ expectations of $641.73 million. Zayo Group had a net margin of 4.62% and a return on equity of 8.29%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. On average, analysts forecast that Zayo Group will post 0.57 EPS for the current fiscal year.

In other news, insider Sandra Mays sold 4,454 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 $107,608.64. Following the transaction, the insider now owns 41,273 shares of the company’s stock, valued at approximately $997,155.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matt Steinfort sold 6,142 shares of the firm’s stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $24.16, for a total transaction of $148,390.72. Following the completion of the transaction, the chief financial officer now owns 22,896 shares of the company’s stock, valued at $553,167.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,144 shares of company stock worth $390,039. Insiders own 4.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates boosted its holdings in shares of Zayo Group by 38.1% during the second quarter. Raymond James & Associates now owns 21,313 shares of the technology company’s stock worth $777,000 after purchasing an additional 5,880 shares during the period. Bank of New York Mellon Corp raised its position in Zayo Group by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 894,569 shares of the technology company’s stock valued at $32,633,000 after acquiring an additional 11,554 shares in the last quarter. Northern Trust Corp raised its position in Zayo Group by 6.3% during the second quarter. Northern Trust Corp now owns 1,101,082 shares of the technology company’s stock valued at $40,168,000 after acquiring an additional 65,458 shares in the last quarter. United Services Automobile Association raised its position in Zayo Group by 10.0% during the second quarter. United Services Automobile Association now owns 117,562 shares of the technology company’s stock valued at $4,289,000 after acquiring an additional 10,651 shares in the last quarter. Finally, Manning & Napier Group LLC raised its position in Zayo Group by 1.4% during the third quarter. Manning & Napier Group LLC now owns 3,896,602 shares of the technology company’s stock valued at $135,288,000 after acquiring an additional 53,215 shares in the last quarter. Institutional investors own 97.97% 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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