Zacks Investment Research cut shares of ZAGG Inc (NASDAQ:ZAGG) from a buy rating to a hold rating in a research report released on Saturday, July 22nd.
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 equities research analysts also recently commented on ZAGG. Roth Capital set a $9.00 price objective on ZAGG and gave the company a hold rating in a report on Saturday, June 17th. Wunderlich reissued a buy rating and issued a $10.00 price objective on shares of ZAGG in a report on Friday, June 9th. Finally, TheStreet raised ZAGG from a d+ rating to a c- rating in a report on Friday, May 5th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $9.75.
ZAGG (ZAGG) opened at 9.75 on Friday. ZAGG has a 12 month low of $5.15 and a 12 month high of $10.29. The firm’s market cap is $272.82 million. The company’s 50-day moving average is $8.75 and its 200 day moving average is $7.65.
ZAGG (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, August 1st. The specialty retailer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $115.20 million during the quarter, compared to the consensus estimate of $107.81 million. ZAGG had a positive return on equity of 5.34% and a negative net margin of 3.12%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. On average, equities research analysts predict that ZAGG will post $0.82 earnings per share for the current year.
A number of large investors have recently bought and sold shares of ZAGG. Seizert Capital Partners LLC boosted its stake in ZAGG by 2.7% in the second quarter. Seizert Capital Partners LLC now owns 300,999 shares of the specialty retailer’s stock worth $2,604,000 after buying an additional 7,989 shares during the period. Royce & Associates LP boosted its position in ZAGG by 43.4% in the second quarter. Royce & Associates LP now owns 576,154 shares of the specialty retailer’s stock valued at $4,984,000 after buying an additional 174,254 shares during the last quarter. Strs Ohio boosted its position in ZAGG by 170.9% in the second quarter. Strs Ohio now owns 61,500 shares of the specialty retailer’s stock valued at $531,000 after buying an additional 38,800 shares during the last quarter. Perkins Capital Management Inc. purchased a new position in ZAGG during the second quarter valued at $602,000. Finally, Acadian Asset Management LLC boosted its position in ZAGG by 610.3% in the second quarter. Acadian Asset Management LLC now owns 32,141 shares of the specialty retailer’s stock valued at $278,000 after buying an additional 27,616 shares during the last quarter. Institutional investors and hedge funds own 78.04% of the company’s stock.
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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