Zayo Group (ZAYO) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Zayo Group (NYSE:ZAYO) from a hold rating to a buy rating in a research note issued to investors on Saturday morning. The brokerage currently has $41.00 price objective on the technology company’s stock.
According to Zacks, “Zayo Group Holdings, Inc. is a provider of bandwidth infrastructure services, including dark fiber, wavelengths, SONET, Ethernet, IP services, and carrier-neutral colocation and interconnection. Its customers include wireline and wireless carriers, and high-bandwidth enterprises from disaster recovery, media content, educational, financial, government, healthcare, and other industries. Zayo Group Holdings, Inc. is headquartered in Boulder, Colorado. “
Several other brokerages also recently weighed in on ZAYO. Barclays upped their target price on Zayo Group from $36.00 to $40.00 and gave the stock an overweight rating in a research note on Wednesday, October 18th. Morgan Stanley upped their target price on Zayo Group from $40.00 to $43.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Citigroup reaffirmed a buy rating on shares of Zayo Group in a research note on Thursday, December 14th. Oppenheimer reaffirmed a buy rating and set a $42.00 target price on shares of Zayo Group in a research note on Tuesday, November 7th. Finally, TheStreet downgraded Zayo Group from a b- rating to a c+ rating in a research note on Monday, November 13th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $41.09.
In related news, major shareholder Fund X/A Lp Gtcr sold 4,700,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $35.90, for a total value of $168,730,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Emily White acquired 43,095 shares of Zayo Group stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average cost of $34.99 per share, with a total value of $1,507,894.05. Following the completion of the purchase, the director now owns 3,906 shares in the company, valued at approximately $136,670.94. The disclosure for this purchase can be found here. Over the last three months, insiders sold 4,992,882 shares of company stock valued at $179,430,128. 5.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its holdings in Zayo Group by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,018 shares of the technology company’s stock valued at $280,000 after buying an additional 775 shares in the last quarter. Navellier & Associates Inc grew its holdings in Zayo Group by 9.7% in the 2nd quarter. Navellier & Associates Inc now owns 14,261 shares of the technology company’s stock valued at $441,000 after buying an additional 1,262 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Zayo Group by 2.6% in the 2nd quarter. Macquarie Group Ltd. now owns 59,400 shares of the technology company’s stock valued at $1,835,000 after buying an additional 1,500 shares in the last quarter. Congress Asset Management Co. MA grew its holdings in Zayo Group by 0.8% in the 4th quarter. Congress Asset Management Co. MA now owns 203,004 shares of the technology company’s stock valued at $7,471,000 after buying an additional 1,605 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in Zayo Group by 5.8% in the 4th quarter. Aperio Group LLC now owns 29,806 shares of the technology company’s stock valued at $1,097,000 after buying an additional 1,628 shares in the last quarter. 84.74% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This story was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://theolympiareport.com/2018/02/13/zayo-group-zayo-raised-to-buy-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zayo Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zayo Group and related companies with MarketBeat.com's FREE daily email newsletter.