Oppenheimer Trims Zayo Group (ZAYO) Target Price to $30.00

Zayo Group (NYSE:ZAYO) had its price objective lowered by stock analysts at Oppenheimer to $30.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 31.64% from the stock’s current price.

Several other brokerages also recently commented on ZAYO. Zacks Investment Research downgraded shares of Zayo Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 16th. William Blair restated an “outperform” rating on shares of Zayo Group in a research note on Thursday, August 23rd. ValuEngine downgraded shares of Zayo Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. TheStreet upgraded shares of Zayo Group from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. Finally, Jefferies Financial Group began coverage on shares of Zayo Group in a research note on Tuesday, September 4th. They issued a “buy” rating and a $49.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company. Zayo Group has an average rating of “Buy” and an average target price of $38.64.

Shares of NYSE:ZAYO traded up $0.23 on Friday, hitting $22.79. The stock had a trading volume of 6,782,873 shares, compared to its average volume of 3,500,713. Zayo Group has a twelve month low of $22.00 and a twelve month high of $39.66. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $7.42 billion, a PE ratio of 37.36, a P/E/G ratio of 11.28 and a beta of 0.64.

Zayo Group (NYSE:ZAYO) last issued its earnings results on Wednesday, November 7th. The technology company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). Zayo Group had a net margin of 3.91% and a return on equity of 9.97%. The firm had revenue of $641.10 million during the quarter, compared to analyst estimates of $647.21 million. During the same quarter in the prior year, the firm posted $0.09 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts forecast that Zayo Group will post 0.53 EPS for the current year.

In related news, insider Sandra Mays sold 1,586 shares of Zayo Group stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $34.14, for a total value of $54,146.04. Following the completion of the transaction, the insider now directly owns 35,800 shares of the company’s stock, valued at $1,222,212. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Caruso sold 337,079 shares of Zayo Group stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $29.67, for a total value of $10,001,133.93. Following the completion of the transaction, the chief executive officer now directly owns 471,851 shares of the company’s stock, valued at $13,999,819.17. The disclosure for this sale can be found here. Insiders sold 609,250 shares of company stock valued at $20,215,335 over the last ninety days. 4.50% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in ZAYO. Canada Pension Plan Investment Board raised 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 buying an additional 2,971,505 shares during the last quarter. Hunt Lane Capital LP bought a new stake in Zayo Group during the 2nd quarter worth about $63,110,000. BlackRock Inc. raised its holdings in Zayo Group by 11.8% during the 2nd quarter. BlackRock Inc. now owns 13,288,927 shares of the technology company’s stock worth $484,781,000 after purchasing an additional 1,401,301 shares during the last quarter. Morgan Stanley raised its holdings in Zayo Group by 141.2% during the 2nd quarter. Morgan Stanley now owns 1,837,250 shares of the technology company’s stock worth $67,025,000 after purchasing an additional 1,075,453 shares during the last quarter. Finally, Senator Investment Group LP raised its holdings in Zayo Group by 11.3% during the 2nd quarter. Senator Investment Group LP now owns 10,000,000 shares of the technology company’s stock worth $364,800,000 after purchasing an additional 1,015,000 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Zayo Group Company Profile

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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