Zagg Inc. (ZAGG) Shares Down 3.7%
Zagg Inc. (NASDAQ:ZAGG) shares traded down 3.7% during trading on Wednesday . The stock traded as low as $6.99 and last traded at $7.01, with a volume of 422,870 shares traded. The stock had previously closed at $7.28.
Several research analysts have commented on the stock. Wunderlich decreased their target price on shares of Zagg from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, May 11th. Zacks Investment Research upgraded shares of Zagg from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Roth Capital reiterated a “hold” rating on shares of Zagg in a report on Wednesday, May 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $8.69.
The company’s 50 day moving average is $6.36 and its 200-day moving average is $7.48. The firm has a market capitalization of $200.24 million and a price-to-earnings ratio of 45.64.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14. The business had revenue of $99.80 million for the quarter, compared to the consensus estimate of $93.07 million. During the same period in the previous year, the business posted $0.12 earnings per share. Zagg’s revenue was up 49.7% on a year-over-year basis. On average, equities research analysts predict that Zagg Inc. will post $0.44 EPS for the current year.
In other Zagg news, Director E Todd Heiner acquired 37,865 shares of Zagg stock in a transaction dated Thursday, May 19th. The stock was bought at an average cost of $5.25 per share, with a total value of $198,791.25. Following the acquisition, the director now owns 92,308 shares of the company’s stock, valued at $484,617. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bradley J. Holiday acquired 7,560 shares of Zagg stock in a transaction dated Thursday, May 19th. The shares were acquired at an average cost of $5.24 per share, with a total value of $39,614.40. Following the completion of the acquisition, 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. Cornerstone Capital Management Holdings LLC. raised its position in Zagg Inc. (NASDAQ:ZAGG) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 272,717 shares of the company’s stock after buying an additional 5,917 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.99% of Zagg worth $2,984,000 at the end of the most recent quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.