Zebra Technologies (NASDAQ:ZBRA) Reaches New 12-Month Low Following Analyst Downgrade

Zebra Technologies Co. (NASDAQ:ZBRA)’s stock price hit a new 52-week low on Wednesday after Morgan Stanley lowered their price target on the stock from $390.00 to $232.00. Morgan Stanley currently has an equal weight rating on the stock. Zebra Technologies traded as low as $205.73 and last traded at $213.49, with a volume of 448503 shares trading hands. The stock had previously closed at $213.54.

A number of other brokerages have also recently weighed in on ZBRA. Citigroup began coverage on shares of Zebra Technologies in a research report on Tuesday, January 14th. They set a “neutral” rating and a $430.00 price target on the stock. UBS Group reduced their target price on Zebra Technologies from $445.00 to $425.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Robert W. Baird lowered their price target on Zebra Technologies from $432.00 to $380.00 and set an “outperform” rating for the company in a report on Tuesday, February 18th. Barclays cut their price objective on Zebra Technologies from $407.00 to $326.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, Truist Financial decreased their price objective on Zebra Technologies from $379.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $359.73.

Insider Buying and Selling at Zebra Technologies

In related news, Director Anders Gustafsson acquired 500 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was acquired at an average cost of $311.00 per share, for a total transaction of $155,500.00. Following the completion of the acquisition, the director now directly owns 202,176 shares of the company’s stock, valued at approximately $62,876,736. This trade represents a 0.25 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On Zebra Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in Zebra Technologies during the 4th quarter worth $201,420,000. FMR LLC boosted its holdings in Zebra Technologies by 181.1% during the fourth quarter. FMR LLC now owns 775,685 shares of the industrial products company’s stock worth $299,585,000 after purchasing an additional 499,736 shares during the last quarter. Schroder Investment Management Group grew its position in Zebra Technologies by 62.8% in the 4th quarter. Schroder Investment Management Group now owns 983,715 shares of the industrial products company’s stock worth $379,930,000 after purchasing an additional 379,491 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Zebra Technologies in the 4th quarter valued at about $140,039,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Zebra Technologies by 434.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 396,633 shares of the industrial products company’s stock worth $153,188,000 after buying an additional 322,475 shares in the last quarter. Institutional investors own 91.03% of the company’s stock.

Zebra Technologies Price Performance

The stock has a market cap of $12.52 billion, a PE ratio of 23.95 and a beta of 1.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.43. The business has a 50 day moving average price of $299.82 and a two-hundred day moving average price of $358.44.

Zebra Technologies (NASDAQ:ZBRA) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.62 earnings per share for the quarter, missing the consensus estimate of $3.85 by ($0.23). Zebra Technologies had a return on equity of 18.34% and a net margin of 10.60%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Research analysts expect that Zebra Technologies Co. will post 13.71 earnings per share for the current fiscal year.

About Zebra Technologies

Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.