Zayo Group (NYSE:ZAYO) Lowered to “Market Perform” at Raymond James

Raymond James lowered shares of Zayo Group (NYSE:ZAYO) from an outperform rating to a market perform rating in a report released on Wednesday, May 22nd, FirstToMarketsRatingsTable reports. They currently have $32.74 price objective on the technology company’s stock.

A number of other equities analysts have also issued reports on the stock. SunTrust Banks lowered shares of Zayo Group from a buy rating to a hold rating in a research report on Monday, May 20th. Citigroup lowered shares of Zayo Group from a buy rating to a neutral rating and lowered their price target for the company from $38.00 to $35.00 in a report on Thursday, May 16th. Cowen lowered shares of Zayo Group from an outperform rating to a market perform rating and lowered their price target for the company from $37.00 to $35.00 in a report on Wednesday, May 15th. William Blair lowered shares of Zayo Group from an outperform rating to a market perform rating in a report on Thursday, May 9th. Finally, UBS Group boosted their price target on shares of Zayo Group from $30.00 to $35.00 and gave the company a neutral rating in a report on Thursday, May 9th. Thirteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $35.02.

Shares of Zayo Group stock traded down $0.04 on Wednesday, reaching $32.60. The stock had a trading volume of 2,586,400 shares, compared to its average volume of 5,807,621. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 4.84. Zayo Group has a fifty-two week low of $20.27 and a fifty-two week high of $39.66. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 53.44, a PEG ratio of 13.16 and a beta of 0.82.

Zayo Group (NYSE:ZAYO) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). Zayo Group had a return on equity of 9.56% and a net margin of 5.06%. The company had revenue of $647.20 million for the quarter, compared to the consensus estimate of $639.98 million. During the same period last year, the firm posted $0.09 EPS. The company’s revenue was down .3% compared to the same quarter last year. As a group, research analysts predict that Zayo Group will post 0.5 earnings per share for the current year.

In other Zayo Group news, insider Sandra Mays sold 2,745 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $28.04, for a total transaction of $76,969.80. Following the transaction, the insider now directly owns 47,395 shares in the company, valued at approximately $1,328,955.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO John F. Jr. Waters sold 6,296 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $28.04, for a total transaction of $176,539.84. Following the transaction, the chief operating officer now owns 102,241 shares in the company, valued at $2,866,837.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 987,834 shares of company stock worth $32,314,474. 4.50% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Zayo Group by 2.1% in the 1st quarter. BlackRock Inc. now owns 12,524,018 shares of the technology company’s stock valued at $355,934,000 after acquiring an additional 258,719 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Zayo Group by 0.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 9,760,366 shares of the technology company’s stock valued at $222,908,000 after acquiring an additional 59,438 shares during the period. Sachem Head Capital Management LP raised its position in shares of Zayo Group by 93.3% in the 1st quarter. Sachem Head Capital Management LP now owns 5,800,000 shares of the technology company’s stock valued at $164,836,000 after acquiring an additional 2,800,000 shares during the period. Eminence Capital LP bought a new stake in Zayo Group during the 1st quarter worth approximately $156,207,000. Finally, Morgan Stanley increased its stake in Zayo Group by 14.3% during the 1st quarter. Morgan Stanley now owns 4,649,244 shares of the technology company’s stock worth $132,131,000 after purchasing an additional 583,054 shares in the last quarter. Institutional investors own 92.77% 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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