Zagg Inc. (ZAGG) Stock Price Down 3.1%
Zagg Inc. (NASDAQ:ZAGG) dropped 3.1% during mid-day trading on Friday . The company traded as low as $7.00 and last traded at $7.14, with a volume of 477,458 shares changing hands. The stock had previously closed at $7.37.
Several research firms recently weighed in on ZAGG. Wunderlich dropped their price objective on shares of Zagg from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 11th. Roth Capital reiterated a “hold” rating on shares of Zagg in a research note on Wednesday, May 18th. Finally, Zacks Investment Research upgraded shares of Zagg from a “sell” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.69.
The firm has a market cap of $243.82 million and a PE ratio of 45.35. The firm has a 50 day moving average of $5.91 and a 200-day moving average of $7.58.
Zagg (NASDAQ:ZAGG) last posted its earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.14. The firm earned $99.80 million during the quarter, compared to analyst estimates of $93.07 million. The business’s quarterly revenue was up 49.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 earnings per share. Equities research analysts expect that Zagg Inc. will post $0.44 EPS for the current year.
In other news, Director E Todd Heiner bought 37,865 shares of the stock in a transaction that occurred on Thursday, May 19th. The shares were acquired at an average cost of $5.25 per share, for a total transaction of $198,791.25. Following the purchase, the director now owns 92,308 shares of the company’s stock, valued at approximately $484,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bradley J. Holiday bought 7,560 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was purchased at an average price of $5.24 per share, for a total transaction of $39,614.40. Following the completion of the purchase, the chief financial officer now directly owns 76,440 shares in the company, valued at approximately $400,545.60. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Zagg stock. Wells Fargo & Company MN boosted its position in shares of Zagg Inc. (NASDAQ:ZAGG) by 4,168.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 635,064 shares of the company’s stock after buying an additional 620,187 shares during the period. Wells Fargo & Company MN owned 2.30% of Zagg worth $6,947,000 as of its most recent filing with the SEC.
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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