Zagg Inc. (ZAGG) Stock Price Up 3.6%
Shares of Zagg Inc. (NASDAQ:ZAGG) rose 3.6% on Wednesday . The company traded as high as $7.90 and last traded at $7.86, with a volume of 182,201 shares trading hands. The stock had previously closed at $7.59.
ZAGG has been the topic of a number of research analyst reports. Roth Capital raised their target price on shares of Zagg from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Thursday, July 14th. Zacks Investment Research upgraded shares of Zagg from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th.
The firm has a market cap of $221.89 million, a P/E ratio of 50.58 and a beta of 1.97. The company has a 50-day moving average price of $7.37 and a 200 day moving average price of $7.04.
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Zagg (NASDAQ:ZAGG) last posted its 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. The business had revenue of $99.80 million for the quarter, compared to analyst estimates of $93.07 million. Zagg had a net margin of 1.42% and a return on equity of 8.43%. Zagg’s revenue was up 49.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. Equities research analysts forecast that Zagg Inc. will post $0.44 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Zagg by 19.2% in the second quarter. Royal Bank of Canada now owns 3,928,216 shares of the company’s stock worth $20,623,000 after buying an additional 631,478 shares during the period. AQR Capital Management LLC raised its position in shares of Zagg by 15.4% in the second quarter. AQR Capital Management LLC now owns 1,025,927 shares of the company’s stock worth $5,386,000 after buying an additional 136,614 shares during the last quarter. Landscape Capital Management L.L.C. raised its position in shares of Zagg by 88.9% in the second quarter. Landscape Capital Management L.L.C. now owns 148,642 shares of the company’s stock worth $780,000 after buying an additional 69,935 shares during the last quarter. A.R.T. Advisors LLC raised its position in shares of Zagg by 90.2% in the second quarter. A.R.T. Advisors LLC now owns 118,303 shares of the company’s stock worth $621,000 after buying an additional 56,114 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Zagg by 40.9% in the second quarter. Parametric Portfolio Associates LLC now owns 142,600 shares of the company’s stock worth $749,000 after buying an additional 41,359 shares during the last quarter. 77.75% of the stock is currently owned by institutional investors and hedge funds.
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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