Zagg Inc (ZAGG) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Zagg Inc (NASDAQ:ZAGG) have earned a consensus rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.83.
Several brokerages have recently commented on ZAGG. Northland Securities restated a “buy” rating and set a $23.00 price target on shares of Zagg in a research note on Friday, December 1st. TheStreet upgraded shares of Zagg from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. Craig Hallum restated a “buy” rating and set a $23.00 price target (up previously from $16.00) on shares of Zagg in a research note on Thursday, October 19th. B. Riley set a $17.00 price target on shares of Zagg and gave the stock a “hold” rating in a research note on Monday, October 30th. Finally, Roth Capital set a $17.00 price target on shares of Zagg and gave the stock a “hold” rating in a research note on Tuesday, October 17th.
Shares of Zagg (NASDAQ ZAGG) traded up $0.70 on Friday, hitting $20.25. 991,600 shares of the stock traded hands, compared to its average volume of 464,770. Zagg has a 52 week low of $5.90 and a 52 week high of $23.70. The firm has a market cap of $566.50, a price-to-earnings ratio of 75.19, a price-to-earnings-growth ratio of 3.90 and a beta of 0.93. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 0.07.
In related news, CEO Randall L. Hales sold 50,001 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $19.16, for a total value of $958,019.16. Following the transaction, the chief executive officer now directly owns 713,380 shares in the company, valued at approximately $13,668,360.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Randall L. Hales sold 19,829 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $19.85, for a total transaction of $393,605.65. Following the completion of the transaction, the chief executive officer now owns 713,380 shares in the company, valued at $14,160,593. The disclosure for this sale can be found here. Insiders sold a total of 99,830 shares of company stock worth $1,903,425 over the last quarter. 4.20% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of ZAGG. Gotham Asset Management LLC acquired a new position in Zagg in the 2nd quarter valued at $100,000. Voya Investment Management LLC grew its position in 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 last quarter. Alliancebernstein L.P. acquired a new stake in Zagg in the 2nd quarter worth $169,000. Martingale Asset Management L P acquired a new stake in Zagg in the 2nd quarter worth $213,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in Zagg in the 3rd quarter worth $231,000. Institutional investors and hedge funds own 82.75% 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.
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