Zagg Inc. (ZAGG) Trading Up 7.7%
Zagg Inc. (NASDAQ:ZAGG) shares were up 7.7% on Wednesday . The stock traded as high as $6.25 and last traded at $5.73, with a volume of 1,646,174 shares. The stock had previously closed at $5.32.
Several research analysts have weighed in on ZAGG shares. Zacks Investment Research lowered Zagg from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 30th. Wunderlich reduced their target price on Zagg from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, May 11th. Finally, Roth Capital reiterated a “hold” rating on shares of Zagg in a report on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Zagg currently has an average rating of “Hold” and an average target price of $8.69.
The stock has a market cap of $173.47 million and a PE ratio of 19.34. The stock’s 50 day moving average is $5.27 and its 200-day moving average is $7.95.
Zagg (NASDAQ:ZAGG) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.05. The firm had revenue of $62.40 million for the quarter, compared to the consensus estimate of $71.07 million. During the same period in the previous year, the business earned $0.17 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that Zagg Inc. will post $0.48 earnings per share for the current fiscal year.
In other news, CFO Bradley J. Holiday purchased 7,560 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were acquired at an average price of $5.24 per share, with a total value of $39,614.40. Following the completion of the transaction, the chief financial officer now owns 76,440 shares of the company’s stock, valued at approximately $400,545.60. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director E Todd Heiner purchased 37,865 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were purchased at an average cost of $5.25 per share, for a total transaction of $198,791.25. Following the transaction, the director now directly owns 92,308 shares of the company’s stock, valued at approximately $484,617. The disclosure for this purchase can be found here.
A number of hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of Zagg by 4,168.8% in the fourth quarter. Wells Fargo & Company MN now owns 635,064 shares of the company’s stock worth $6,947,000 after buying an additional 620,187 shares during the period. Opus Capital Group LLC purchased a new stake in shares of Zagg during the fourth quarter worth approximately $3,375,000. EAM Investors LLC purchased a new stake in shares of Zagg during the fourth quarter worth approximately $2,473,000. Morgan Stanley boosted its stake in shares of Zagg by 322.2% in the fourth quarter. Morgan Stanley now owns 239,573 shares of the company’s stock worth $2,620,000 after buying an additional 182,823 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Zagg by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,809,165 shares of the company’s stock worth $19,793,000 after buying an additional 181,033 shares during the period.
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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