ZAGG Inc (ZAGG) Lifted to “Strong-Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of ZAGG Inc (NASDAQ:ZAGG) from a hold rating to a strong-buy rating in a research note published on Friday. They currently have $10.00 price target on the specialty retailer’s stock.
According to Zacks, “ZAGG Inc. designs, manufactures and distributes protective clear coverings and accessories for consumer electronic and hand-held devices, worldwide. ZAGG’s flagship brand, the invisibleSHIELD, is a protective, high-tech patented film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices and other items. The patent-pending invisibleSHIELD application is the first scratch protection solution of its kind on the market, and has sold over one million units. Currently, ZAGG offers over 2,500 precision pre-cut designs with a lifetime replacement warranty through online channels, resellers, college bookstores, Mac stores and mall kiosks. The company continues to increase its product lines to offer additional electronic accessories to its tech-savvy customer base, as well as an expanded array of invisibleSHIELD products for other industries. “
ZAGG has been the subject of several other research reports. Roth Capital set a $8.00 price target on ZAGG and gave the stock a hold rating in a research report on Wednesday, May 3rd. Wunderlich dropped their price target on ZAGG from $10.00 to $8.00 and set a buy rating for the company in a research report on Wednesday, May 3rd. TheStreet raised ZAGG from a d+ rating to a c- rating in a research report on Friday, May 5th. Finally, Northland Securities set a $10.00 price target on ZAGG and gave the stock a buy rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. ZAGG has an average rating of Buy and an average target price of $9.75.
ZAGG (NASDAQ ZAGG) opened at 9.40 on Friday. The firm’s market cap is $263.03 million. The firm’s 50-day moving average price is $8.57 and its 200-day moving average price is $7.55. ZAGG has a 1-year low of $5.15 and a 1-year high of $9.60.
ZAGG (NASDAQ:ZAGG) last released its quarterly earnings results on Tuesday, August 1st. The specialty retailer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $115.20 million during the quarter, compared to the consensus estimate of $107.81 million. ZAGG had a positive return on equity of 5.34% and a negative net margin of 3.12%. ZAGG’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. On average, equities research analysts anticipate that ZAGG will post $0.82 earnings per share for the current year.
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Several large investors have recently bought and sold shares of the company. American International Group Inc. boosted its stake in ZAGG by 7.0% in the first quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock valued at $122,000 after buying an additional 1,117 shares during the period. Wedbush Securities Inc. acquired a new stake in ZAGG during the first quarter valued at about $130,000. Brandes Investment Partners LP boosted its stake in ZAGG by 86.9% in the first quarter. Brandes Investment Partners LP now owns 19,621 shares of the specialty retailer’s stock valued at $141,000 after buying an additional 9,122 shares during the period. Strs Ohio boosted its stake in ZAGG by 587.9% in the first quarter. Strs Ohio now owns 22,700 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 19,400 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in ZAGG by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 24,142 shares of the specialty retailer’s stock valued at $174,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 78.04% of the company’s stock.
ZAGG Company Profile
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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