Zebra Technologies Corporation (NASDAQ:ZBRA) traded up 9.7% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $107.35 and last traded at $106.65, with a volume of 1,203,860 shares. The stock had previously closed at $97.25.
The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.17. Zebra Technologies Corporation had a positive return on equity of 37.96% and a negative net margin of 2.98%. The firm had revenue of $897 million during the quarter, compared to the consensus estimate of $876.90 million. During the same period last year, the company earned $1.34 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis.
Several equities analysts have recently weighed in on the company. BidaskClub downgraded Zebra Technologies Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research downgraded Zebra Technologies Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. ValuEngine upgraded Zebra Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Morgan Stanley downgraded Zebra Technologies Corporation from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $95.00 to $100.00 in a report on Wednesday, May 31st. They noted that the move was a valuation call. Finally, Needham & Company LLC restated a “buy” rating and set a $107.00 price target on shares of Zebra Technologies Corporation in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $94.82.
In related news, SVP Hugh K. Gagnier sold 9,388 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $100.42, for a total transaction of $942,742.96. Following the sale, the senior vice president now directly owns 48,460 shares of the company’s stock, valued at $4,866,353.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard L. Keyser sold 6,132 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $106.26, for a total value of $651,586.32. Following the sale, the director now directly owns 23,632 shares in the company, valued at $2,511,136.32. The disclosure for this sale can be found here. Insiders have sold 18,881 shares of company stock worth $1,954,954 over the last ninety days. 2.50% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in ZBRA. BlackRock Inc. boosted its stake in Zebra Technologies Corporation by 15,105.8% in the first quarter. BlackRock Inc. now owns 4,142,827 shares of the industrial products company’s stock valued at $378,032,000 after buying an additional 4,115,582 shares during the period. Bank of New York Mellon Corp boosted its stake in Zebra Technologies Corporation by 118.7% in the second quarter. Bank of New York Mellon Corp now owns 1,485,758 shares of the industrial products company’s stock valued at $149,349,000 after buying an additional 806,297 shares during the period. MARSHALL WACE ASIA Ltd purchased a new position in shares of Zebra Technologies Corporation during the first quarter valued at about $41,048,000. Marshall Wace North America L.P. purchased a new position in shares of Zebra Technologies Corporation during the first quarter valued at about $41,048,000. Finally, Renaissance Technologies LLC boosted its position in shares of Zebra Technologies Corporation by 483.6% in the first quarter. Renaissance Technologies LLC now owns 272,731 shares of the industrial products company’s stock valued at $24,887,000 after buying an additional 226,000 shares during the last quarter. 94.49% of the stock is currently owned by institutional investors.
The stock has a 50-day moving average of $101.18 and a 200 day moving average of $94.61. The stock’s market cap is $5.48 billion.
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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