Zagg Inc. (NASDAQ:ZAGG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

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. “

Separately, Roth Capital upped their price objective on Zagg from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, July 14th.

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Zagg (NASDAQ:ZAGG) opened at 7.70 on Thursday. The stock has a market cap of $216.55 million, a P/E ratio of 49.36 and a beta of 1.69. The firm’s 50-day moving average is $7.67 and its 200 day moving average is $6.91. Zagg has a one year low of $4.71 and a one year high of $12.74.

Zagg (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.14. Zagg had a return on equity of 8.43% and a net margin of 1.42%. The business had revenue of $99.80 million for the quarter, compared to analyst estimates of $93.07 million. During the same quarter in the prior year, the firm posted $0.12 EPS. The business’s quarterly revenue was up 49.7% compared to the same quarter last year. On average, analysts anticipate that Zagg will post $0.45 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cadence Capital Management LLC raised its position in shares of Zagg by 107.9% in the second quarter. Cadence Capital Management LLC now owns 118,459 shares of the company’s stock worth $622,000 after buying an additional 61,484 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Zagg during the second quarter worth about $1,087,000. Hancock Holding Co. acquired a new position in shares of Zagg during the first quarter worth about $760,000. GSA Capital Partners LLP raised its position in shares of Zagg by 223.1% in the second quarter. GSA Capital Partners LLP now owns 480,519 shares of the company’s stock worth $2,523,000 after buying an additional 331,787 shares during the period. Finally, Glenmede Trust Co. NA raised its position in shares of Zagg by 33.9% in the first quarter. Glenmede Trust Co. NA now owns 43,417 shares of the company’s stock worth $391,000 after buying an additional 10,983 shares during the period. Hedge funds and other institutional investors own 77.75% of the company’s stock.

About Zagg

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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