TheStreet Upgrades ZAGG Inc (ZAGG) to B-
ZAGG Inc (NASDAQ:ZAGG) was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating in a research note issued on Wednesday.
Other equities analysts have also issued research reports about the stock. B. Riley raised shares of ZAGG from a “neutral” rating to a “buy” rating and increased their target price for the company from $17.00 to $20.00 in a report on Thursday. Roth Capital set a $17.00 target price on shares of ZAGG and gave the company a “hold” rating in a report on Tuesday, October 17th. Northland Securities set a $10.00 target price on shares of ZAGG and gave the company a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of ZAGG from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a report on Friday, August 4th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $23.00 target price (up previously from $16.00) on shares of ZAGG in a report on Thursday, October 19th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $17.67.
ZAGG (NASDAQ:ZAGG) last issued its quarterly earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. The firm had revenue of $134.40 million for the quarter, compared to analyst estimates of $128.23 million. ZAGG had a net margin of 0.63% and a return on equity of 6.76%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS.
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Large investors have recently bought and sold shares of the company. Gotham Asset Management LLC purchased a new stake in shares of ZAGG in the 2nd quarter worth about $100,000. Bowling Portfolio Management LLC purchased a new stake in shares of ZAGG in the 1st quarter worth about $127,000. Thompson Davis & CO. Inc. purchased a new stake in shares of ZAGG in the 3rd quarter worth about $231,000. American International Group Inc. lifted its position in shares of ZAGG by 7.0% in the 1st quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock worth $122,000 after purchasing an additional 1,117 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of ZAGG by 18.2% in the 2nd quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock worth $153,000 after purchasing an additional 2,730 shares during the period. 81.86% 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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