ZAGG Inc (NASDAQ:ZAGG) was upgraded by research analysts at B. Riley from a “neutral” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $20.00 price target on the specialty retailer’s stock, up from their prior price target of $17.00. B. Riley’s price target would indicate a potential upside of 27.80% from the stock’s current price.

Several other brokerages have also recently weighed in on ZAGG. Craig Hallum reissued a “buy” rating and issued a $23.00 price target (up previously from $16.00) on shares of ZAGG in a research note on Thursday, October 19th. Roth Capital set a $17.00 price target on ZAGG and gave the company a “hold” rating in a research note on Tuesday, October 17th. Zacks Investment Research cut ZAGG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 12th. Northland Securities increased their price target on ZAGG from $12.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, September 13th. Finally, BidaskClub raised ZAGG from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. ZAGG currently has an average rating of “Buy” and an average price target of $17.67.

ZAGG (NASDAQ:ZAGG) last issued its quarterly earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $128.23 million. ZAGG had a positive return on equity of 5.34% and a negative net margin of 3.12%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share.

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Several institutional investors have recently made changes to their positions in ZAGG. Wells Fargo & Company MN boosted its position in shares of ZAGG by 0.4% during the 1st quarter. Wells Fargo & Company MN now owns 28,525 shares of the specialty retailer’s stock valued at $205,000 after purchasing an additional 100 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ZAGG by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 220,871 shares of the specialty retailer’s stock valued at $1,591,000 after purchasing an additional 3,106 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of ZAGG by 0.4% during the 1st quarter. JPMorgan Chase & Co. now owns 24,142 shares of the specialty retailer’s stock valued at $174,000 after purchasing an additional 91 shares in the last quarter. American International Group Inc. boosted its position in shares of ZAGG by 7.0% during the 1st quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock valued at $122,000 after purchasing an additional 1,117 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in shares of ZAGG by 10.8% during the 1st quarter. TIAA CREF Investment Management LLC now owns 90,872 shares of the specialty retailer’s stock valued at $654,000 after purchasing an additional 8,852 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

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.

Analyst Recommendations for ZAGG (NASDAQ:ZAGG)

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