Zagg Inc. (ZAGG) Shares Down 3.1%
Zagg Inc. (NASDAQ:ZAGG) fell 3.1% during trading on Friday . The company traded as low as $7.00 and last traded at $7.14, with a volume of 477,458 shares. The stock had previously closed at $7.37.
A number of research firms have commented on ZAGG. Zacks Investment Research cut shares of Zagg from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Wunderlich decreased their target price 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. Finally, Roth Capital raised their target price on shares of Zagg from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, July 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $8.69.
The company has a market capitalization of $243.82 million and a price-to-earnings ratio of 45.35. The stock’s 50 day moving average price is $5.96 and its 200 day moving average price is $7.58.
Zagg (NASDAQ:ZAGG) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.14. During the same quarter in the previous year, the firm posted $0.12 EPS. The business had revenue of $99.80 million for the quarter, compared to analysts’ expectations of $93.07 million. Zagg’s revenue was up 49.7% on a year-over-year basis. On average, equities research analysts anticipate that Zagg Inc. will post $0.44 earnings per share for the current year.
In other news, Director E Todd Heiner bought 37,865 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The shares were purchased at an average price of $5.25 per share, for a total transaction of $198,791.25. Following the completion of the transaction, the director now directly owns 92,308 shares in the company, valued at $484,617. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Bradley J. Holiday bought 7,560 shares of the company’s 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 transaction, the chief financial officer now owns 76,440 shares of the company’s stock, valued at $400,545.60. The disclosure for this purchase can be found here.
An institutional investor recently raised its position 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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 635,064 shares of the company’s stock after buying an additional 620,187 shares during the period. Wells Fargo & Company MN owned approximately 2.30% of Zagg worth $6,947,000 as of its most recent SEC filing.
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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