Zacks Investment Research Lowers ZAGG Inc (ZAGG) to Hold
ZAGG Inc (NASDAQ:ZAGG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.
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. “
Several other equities research analysts have also recently issued reports on ZAGG. Roth Capital set a $9.00 price objective on shares of ZAGG and gave the company a “hold” rating in a research report on Saturday, June 17th. Wunderlich reissued a “buy” rating and issued a $10.00 price objective on shares of ZAGG in a research report on Friday, June 9th. Finally, TheStreet raised shares of ZAGG from a “d+” rating to a “c-” rating in a research report on Friday, May 5th.
ZAGG (NASDAQ:ZAGG) opened at 8.45 on Friday. The company’s market capitalization is $236.27 million. The company has a 50-day moving average of $8.58 and a 200-day moving average of $7.46. ZAGG has a 1-year low of $5.15 and a 1-year high of $9.15.
ZAGG (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, May 2nd. The specialty retailer reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. The company had revenue of $92.95 million during the quarter, compared to analysts’ expectations of $88.29 million. ZAGG had a negative net margin of 4.26% and a positive return on equity of 4.81%. Equities analysts expect that ZAGG will post $0.79 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in ZAGG. Algert Global LLC boosted its stake in shares of ZAGG by 9.5% in the first quarter. Algert Global LLC now owns 157,794 shares of the specialty retailer’s stock valued at $1,136,000 after buying an additional 13,660 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of ZAGG during the fourth quarter valued at $256,000. Strs Ohio boosted its stake in shares of 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 last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ZAGG by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,381,400 shares of the specialty retailer’s stock valued at $16,908,000 after buying an additional 53,307 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of ZAGG during the first quarter valued at $257,000. 78.77% of the stock is owned by hedge funds and other institutional investors.
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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