Zacks Investment Research Downgrades Zebra Technologies Corporation (ZBRA) to Hold
Zebra Technologies Corporation (NASDAQ:ZBRA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
ZBRA has been the subject of a number of other research reports. Northcoast Research raised Zebra Technologies Corporation from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. Robert W. Baird reissued a “buy” rating and issued a $125.00 target price on shares of Zebra Technologies Corporation in a report on Friday. J P Morgan Chase & Co lifted their target price on Zebra Technologies Corporation to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 7th. BidaskClub lowered Zebra Technologies Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Wellington Shields raised Zebra Technologies Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $111.75.
Zebra Technologies Corporation (NASDAQ:ZBRA) last posted its earnings results on Tuesday, November 7th. The industrial products company reported $1.87 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.14. The business had revenue of $935.00 million during the quarter, compared to analyst estimates of $914.98 million. Zebra Technologies Corporation had a return on equity of 41.17% and a net margin of 0.82%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 EPS. research analysts expect that Zebra Technologies Corporation will post 6.31 earnings per share for the current fiscal year.
In other news, Director Frank Blaise Modruson purchased 1,540 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average cost of $103.88 per share, for a total transaction of $159,975.20. Following the purchase, the director now directly owns 12,556 shares in the company, valued at approximately $1,304,317.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZBRA. BlackRock Inc. lifted its position in Zebra Technologies Corporation by 15,105.8% during the first quarter. BlackRock Inc. now owns 4,142,827 shares of the industrial products company’s stock valued at $378,032,000 after purchasing an additional 4,115,582 shares in the last quarter. Scopia Capital Management LP purchased a new position in Zebra Technologies Corporation during the third quarter valued at $118,650,000. Janus Henderson Group PLC purchased a new position in Zebra Technologies Corporation during the second quarter valued at $157,116,000. Fuller & Thaler Asset Management Inc. purchased a new position in Zebra Technologies Corporation during the second quarter valued at $67,797,000. Finally, CI Global Investments Inc. lifted its position in Zebra Technologies Corporation by 207.1% during the second quarter. CI Global Investments Inc. now owns 1,438,000 shares of the industrial products company’s stock valued at $72,044,000 after purchasing an additional 969,700 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.
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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