Zayo Group Holdings Received its Third Buy in a Row

By Jason Carr

After Cowen & Co. and Oppenheimer assigned a Buy rating to Zayo Group Holdings in the last month, the company received another Buy, this time from RBC Capital. Analyst Jonathan Atkin reiterated a Buy rating on Zayo Group Holdings (NYSE: ZAYO) yesterday and set a price target of $37. The company’s shares closed yesterday at $34.22.

According to TipRanks.com, Atkin is a top 25 analyst with an average return of 18.8% and a 88.2% success rate. Atkin covers the Financial sector, focusing on stocks such as Summit Hotel Properties, Landmark Infrastructure, and Education Realty Trust.

Currently, the analyst consensus on Zayo Group Holdings is Strong Buy and the average price target is $40, representing a 16.9% upside.

In a report issued on August 21, Oppenheimer also reiterated a Buy rating on the stock with a $42 price target.

The company has a one year high of $35.65 and a one year low of $28.15. Currently, Zayo Group Holdings has an average volume of 2M.

Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock.

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Zayo Group Holdings, Inc. provides bandwidth infrastructure services in the U.S. and Europe. Its products and services enable mission critical, high-bandwidth applications, such as cloud-based computing, video, mobile, social media, machine-to-machine connectivity, and other bandwidth-intensive applications.