Zagg Inc (NASDAQ:ZAGG) – Research analysts at B. Riley lowered their FY2019 earnings per share (EPS) estimates for Zagg in a note issued to investors on Wednesday, November 7th. B. Riley analyst J. Van. Sinderen now anticipates that the specialty retailer will post earnings of $1.35 per share for the year, down from their previous forecast of $1.49. B. Riley currently has a “Neutral” rating and a $15.00 target price on the stock.
Zagg (NASDAQ:ZAGG) last posted its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.09. Zagg had a net margin of 6.00% and a return on equity of 33.12%. The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $149.13 million. During the same period last year, the company earned $0.34 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year.
ZAGG has been the topic of a number of other reports. BidaskClub downgraded shares of Zagg from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. ValuEngine downgraded shares of Zagg from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Zagg presently has an average rating of “Hold” and a consensus price target of $19.50.
NASDAQ ZAGG opened at $11.46 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.66. Zagg has a 12-month low of $10.60 and a 12-month high of $23.70. The company has a market capitalization of $320.73 million, a PE ratio of 7.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.66.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Zagg by 11.5% during the third quarter. BlackRock Inc. now owns 2,548,418 shares of the specialty retailer’s stock worth $37,590,000 after buying an additional 263,141 shares during the last quarter. Wasatch Advisors Inc. boosted its position in Zagg by 8.2% during the third quarter. Wasatch Advisors Inc. now owns 1,584,698 shares of the specialty retailer’s stock worth $23,374,000 after purchasing an additional 120,541 shares during the period. Baird Financial Group Inc. boosted its position in Zagg by 26.1% during the second quarter. Baird Financial Group Inc. now owns 603,571 shares of the specialty retailer’s stock worth $10,442,000 after purchasing an additional 125,035 shares during the period. Tieton Capital Management LLC boosted its position in Zagg by 34.1% during the second quarter. Tieton Capital Management LLC now owns 453,667 shares of the specialty retailer’s stock worth $7,848,000 after purchasing an additional 115,260 shares during the period. Finally, Northern Trust Corp boosted its position in Zagg by 8.2% during the second quarter. Northern Trust Corp now owns 406,625 shares of the specialty retailer’s stock worth $7,034,000 after purchasing an additional 30,715 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.
In related news, President Brian Stech sold 10,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the transaction, the president now directly owns 198,864 shares in the company, valued at $2,917,334.88. The sale was disclosed in a filing with the SEC, which is available through this link. 5.80% of the stock is currently owned by insiders.
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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