Zagg Inc. (ZAGG) Rating Lowered to Sell at Zacks Investment Research
Zagg Inc. (NASDAQ:ZAGG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
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 lifted their price target 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.
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Zagg (NASDAQ:ZAGG) opened at 7.75 on Wednesday. Zagg has a 52 week low of $4.71 and a 52 week high of $12.74. The firm’s 50-day moving average price is $7.73 and its 200 day moving average price is $6.86. The company has a market capitalization of $217.95 million, a PE ratio of 49.68 and a beta of 1.69.
Zagg (NASDAQ:ZAGG) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.14. Zagg had a net margin of 1.42% and a return on equity of 8.43%. The business earned $99.80 million during the quarter, compared to the consensus estimate of $93.07 million. During the same quarter last year, the firm posted $0.12 EPS. Zagg’s revenue was up 49.7% compared to the same quarter last year. Equities research analysts expect that Zagg will post $0.45 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of ZAGG. KCG Holdings Inc. boosted its stake in Zagg by 6.8% in the second quarter. KCG Holdings Inc. now owns 26,546 shares of the company’s stock worth $139,000 after buying an additional 1,685 shares during the last quarter. Strs Ohio boosted its stake in Zagg by 8.2% in the second quarter. Strs Ohio now owns 27,700 shares of the company’s stock worth $145,000 after buying an additional 2,100 shares during the last quarter. Rhumbline Advisers boosted its stake in Zagg by 11.1% in the second quarter. Rhumbline Advisers now owns 30,540 shares of the company’s stock worth $160,000 after buying an additional 3,060 shares during the last quarter. BlackRock Advisors LLC boosted its stake in Zagg by 1.5% in the second quarter. BlackRock Advisors LLC now owns 240,321 shares of the company’s stock worth $1,262,000 after buying an additional 3,505 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Zagg by 4.1% in the second quarter. PNC Financial Services Group Inc. now owns 152,919 shares of the company’s stock worth $803,000 after buying an additional 6,071 shares during the last quarter. 77.68% of the stock is currently owned by hedge funds and other institutional investors.
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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