Zacks Investment Research upgraded shares of ZAGG Inc (NASDAQ:ZAGG) from a hold rating to a strong-buy rating in a report released on Thursday, October 26th. The firm currently has $20.00 price objective on the specialty retailer’s stock.
According to Zacks, “ZAGG Inc. designs, manufactures and distributes protective clear coverings and accessories for consumer electronic and hand-held devices, worldwide. ZAGG’s flagship brand, the invisibleSHIELD, is a protective, high-tech patented film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices and other items. The patent-pending invisibleSHIELD application is the first scratch protection solution of its kind on the market, and has sold over one million units. Currently, ZAGG offers over 2,500 precision pre-cut designs with a lifetime replacement warranty through online channels, resellers, college bookstores, Mac stores and mall kiosks. The company continues to increase its product lines to offer additional electronic accessories to its tech-savvy customer base, as well as an expanded array of invisibleSHIELD products for other industries. “
Several other research analysts have also commented on ZAGG. Roth Capital set a $17.00 price target on ZAGG and gave the stock a hold rating in a research report on Tuesday, October 17th. Northland Securities set a $10.00 target price on ZAGG and gave the company a buy rating in a research report on Tuesday, July 25th. Craig Hallum reiterated a buy rating and set a $23.00 price target (up previously from $16.00) on shares of ZAGG in a research note on Thursday, October 19th. Finally, BidaskClub upgraded ZAGG from a buy rating to a strong-buy rating in a research note on Saturday, August 5th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. ZAGG currently has a consensus rating of Buy and a consensus target price of $17.67.
ZAGG (NASDAQ ZAGG) opened at $19.25 on Thursday. ZAGG has a twelve month low of $5.90 and a twelve month high of $19.81. The stock has a market capitalization of $538.52, a price-to-earnings ratio of 74.04, a price-to-earnings-growth ratio of 3.90 and a beta of 0.82. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 0.07.
ZAGG (NASDAQ:ZAGG) last released its earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $134.40 million for the quarter, compared to analysts’ expectations of $128.23 million. ZAGG had a return on equity of 6.59% and a net margin of 0.63%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share. equities analysts forecast that ZAGG will post 0.99 EPS for the current year.
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In other ZAGG news, CFO Bradley J. Holiday sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $19.02, for a total transaction of $190,200.00. Following the completion of the sale, the chief financial officer now owns 89,587 shares of the company’s stock, valued at $1,703,944.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian Stech sold 20,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $18.08, for a total value of $361,600.00. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. AJO LP purchased a new stake in ZAGG in the 2nd quarter valued at approximately $3,715,000. EAM Investors LLC acquired a new position in ZAGG in the 3rd quarter valued at $6,040,000. Ameriprise Financial Inc. raised its holdings in ZAGG by 1,068.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 374,657 shares of the specialty retailer’s stock valued at $5,900,000 after acquiring an additional 342,585 shares during the last quarter. Royce & Associates LP raised its holdings in ZAGG by 43.4% in the 2nd quarter. Royce & Associates LP now owns 576,154 shares of the specialty retailer’s stock valued at $4,984,000 after acquiring an additional 174,254 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in ZAGG by 134.5% in the 1st quarter. California Public Employees Retirement System now owns 197,900 shares of the specialty retailer’s stock valued at $1,416,000 after acquiring an additional 113,500 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.
ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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