Zebra Technologies Corporation (ZBRA) Raised to Buy at Zacks Investment Research
Zebra Technologies Corporation (NASDAQ:ZBRA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $123.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.51% from the stock’s current price.
According to Zacks, “Zebra Technologies Corporation and its wholly-owned subsidiaries design, manufacture and support a broad range of direct thermal and thermal transfer bar code label printers, receipt printers, instant-issuance plastic card printers and secure identification printing systems, related accessories, and support software. The company markets its products worldwide principally to manufacturing and service organizations for use in automatic identification, data collection, and personal identification systems. “
Other analysts also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $118.00 price target (up from $107.00) on shares of Zebra Technologies Corporation in a report on Thursday, August 10th. BidaskClub cut Zebra Technologies Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Barrington Research reiterated an “outperform” rating and set a $125.00 price target (up from $110.00) on shares of Zebra Technologies Corporation in a report on Tuesday, August 15th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $104.29.
Zebra Technologies Corporation (NASDAQ:ZBRA) last posted its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.17. Zebra Technologies Corporation had a positive return on equity of 38.88% and a negative net margin of 1.14%. The firm had revenue of $897.00 million during the quarter, compared to the consensus estimate of $876.90 million. During the same period in the prior year, the company earned $1.34 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year.
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In other news, SVP Hugh K. Gagnier sold 20,682 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $106.42, for a total transaction of $2,200,978.44. Following the sale, the senior vice president now owns 39,072 shares of the company’s stock, valued at approximately $4,158,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anders Gustafsson sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $106.04, for a total value of $2,651,000.00. Following the sale, the chief executive officer now directly owns 295,116 shares in the company, valued at approximately $31,294,100.64. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. USA Financial Portformulas Corp purchased a new position in shares of Zebra Technologies Corporation in the 2nd quarter valued at approximately $266,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Zebra Technologies Corporation by 8.3% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,236 shares of the industrial products company’s stock valued at $928,000 after purchasing an additional 710 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of Zebra Technologies Corporation by 85.9% in the 2nd quarter. WINTON GROUP Ltd now owns 49,085 shares of the industrial products company’s stock valued at $4,934,000 after purchasing an additional 22,674 shares during the last quarter. Kalos Management Inc. grew its stake in shares of Zebra Technologies Corporation by 7.2% in the 2nd quarter. Kalos Management Inc. now owns 8,334 shares of the industrial products company’s stock valued at $837,000 after purchasing an additional 560 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Zebra Technologies Corporation by 1.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 15,790 shares of the industrial products company’s stock valued at $1,587,000 after purchasing an additional 203 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors.
About Zebra Technologies Corporation
Zebra Technologies Corporation designs, manufactures and sells a range of automatic identification and data capture (AIDC) products. The Company’s AIDC products include mobile computers, barcode scanners, radio frequency identification (RFID) readers, wireless local area network (WLAN) products, specialty printers for barcode labeling and personal identification, real-time location systems (RTLS), related accessories and supplies, such as self-adhesive labels and other consumables, and utilities and application software.
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