Zagg (NASDAQ:ZAGG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The firm currently has a $21.00 target price on the specialty retailer’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.24% from the stock’s current price.

According to Zacks, “ZAGG Inc. designs, manufactures and distributes protective clear coverings and accessories for consumer electronic and hand-held devices, worldwide. ZAGG’s flagship brand, the invisibleSHIELD, is a protective, high-tech patented film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices and other items. The patent-pending invisibleSHIELD application is the first scratch protection solution of its kind on the market, and has sold over one million units. Currently, ZAGG offers over 2,500 precision pre-cut designs with a lifetime replacement warranty through online channels, resellers, college bookstores, Mac stores and mall kiosks. The company continues to increase its product lines to offer additional electronic accessories to its tech-savvy customer base, as well as an expanded array of invisibleSHIELD products for other industries. “

Several other research firms have also recently issued reports on ZAGG. Craig Hallum set a $24.00 price objective on Zagg and gave the stock a “buy” rating in a report on Wednesday. TheStreet upgraded Zagg from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. B. Riley upgraded Zagg from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $17.00 to $20.00 in a report on Thursday, November 2nd. Roth Capital set a $17.00 price objective on Zagg and gave the stock a “hold” rating in a report on Tuesday, October 17th. Finally, Northland Securities restated a “buy” rating and set a $23.00 price objective on shares of Zagg in a report on Friday, December 1st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.17.

Zagg (ZAGG) traded down $0.10 during mid-day trading on Friday, hitting $19.05. The stock had a trading volume of 411,396 shares, compared to its average volume of 582,975. Zagg has a 1-year low of $5.90 and a 1-year high of $23.70. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $535.72, a PE ratio of 211.67, a price-to-earnings-growth ratio of 2.96 and a beta of 0.93.

Zagg (NASDAQ:ZAGG) last posted its quarterly earnings data on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. Zagg had a return on equity of 6.59% and a net margin of 0.63%. The business had revenue of $134.40 million for the quarter, compared to analysts’ expectations of $128.23 million. During the same quarter last year, the firm earned $0.29 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. sell-side analysts forecast that Zagg will post 1 EPS for the current year.

In related news, insider Brian Stech sold 20,000 shares of Zagg stock in a transaction on Monday, November 6th. The stock was sold at an average price of $18.08, for a total value of $361,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bradley J. Holiday sold 10,000 shares of Zagg stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $19.02, for a total value of $190,200.00. Following the completion of the transaction, the chief financial officer now owns 89,587 shares in the company, valued at approximately $1,703,944.74. The disclosure for this sale can be found here. Insiders sold 99,830 shares of company stock worth $1,903,425 in the last quarter. 4.20% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of ZAGG. Gotham Asset Management LLC acquired a new position in Zagg in the second quarter valued at $100,000. Voya Investment Management LLC boosted its holdings in Zagg by 18.2% in the second quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock valued at $153,000 after acquiring an additional 2,730 shares during the last quarter. Alliancebernstein L.P. acquired a new position in Zagg in the second quarter valued at $169,000. Martingale Asset Management L P acquired a new position in Zagg in the second quarter valued at $213,000. Finally, Thompson Davis & CO. Inc. acquired a new position in Zagg in the third quarter valued at $231,000. Hedge funds and other institutional investors own 82.75% of the company’s stock.

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About Zagg

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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