Zagg (NASDAQ:ZAGG) had its price target dropped by stock analysts at B. Riley from $17.00 to $15.00 in a note issued to investors on Wednesday. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. B. Riley’s price target would indicate a potential upside of 22.45% from the company’s current price.
A number of other equities research analysts have also issued reports on the company. ValuEngine lowered Zagg from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. BidaskClub lowered Zagg from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Zagg currently has a consensus rating of “Hold” and a consensus target price of $19.50.
ZAGG stock opened at $12.25 on Wednesday. Zagg has a 1 year low of $10.90 and a 1 year high of $23.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.66. The company has a market capitalization of $355.65 million, a P/E ratio of 12.63, a P/E/G ratio of 1.21 and a beta of 1.66.
Zagg (NASDAQ:ZAGG) last posted its earnings results on Tuesday, November 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Zagg had a return on equity of 30.17% and a net margin of 5.18%. The firm had revenue of $141.10 million for the quarter, compared to analyst estimates of $149.13 million. During the same quarter in the prior year, the company earned $0.34 EPS. Zagg’s revenue was up 5.0% on a year-over-year basis. Analysts expect that Zagg will post 1.39 earnings per share for the current year.
In other Zagg news, President Brian Stech sold 10,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the transaction, the president now owns 198,864 shares of the company’s stock, valued at approximately $2,917,334.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.80% of the company’s stock.
Several institutional investors have recently modified their holdings of ZAGG. Northern Trust Corp lifted its stake in shares of Zagg by 1.6% during the 1st quarter. Northern Trust Corp now owns 375,910 shares of the specialty retailer’s stock worth $4,586,000 after purchasing an additional 5,830 shares during the period. BlackRock Inc. increased its holdings in shares of Zagg by 0.7% during the 1st quarter. BlackRock Inc. now owns 1,825,475 shares of the specialty retailer’s stock worth $22,270,000 after buying an additional 13,177 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Zagg during the 1st quarter worth $180,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Zagg during the 2nd quarter worth $233,000. Finally, Bank of Montreal Can acquired a new stake in shares of Zagg during the 2nd quarter worth $242,000. 84.53% of the stock is currently owned by institutional investors.
Zagg Company Profile
ZAGG Inc, together with its subsidiaries, designs, manufactures, and distributes mobile tech accessories for smartphones and tablets in the United States, Europe, and internationally. It operates in ZAGG and mophie segments. The company offers screen protection products; battery cases and power management products for tablets, smartphones, MP3 players, cameras, and other electronic mobile devices; device specific keyboards and device agnostic keyboards; and earbuds, headphones, wireless charging products, Bluetooth speakers, and cables under the ZAGG, InvisibleShield, IFROGZ, and mophie brands.
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