ZAGG Inc (ZAGG) Posts Earnings Results, Beats Expectations By $0.02 EPS

ZAGG Inc (NASDAQ:ZAGG) posted its earnings results on Tuesday, August 1st. The specialty retailer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02, Bloomberg Earnings reports. The firm had revenue of $115.20 million for the quarter, compared to analyst estimates of $107.81 million. ZAGG had a positive return on equity of 5.34% and a negative net margin of 3.12%. ZAGG’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 company posted $0.11 earnings per share.

ZAGG (NASDAQ:ZAGG) traded up 7.29% on Friday, reaching $10.30. 558,369 shares of the company traded hands. The company has a 50-day moving average price of $8.83 and a 200-day moving average price of $7.69. The company’s market capitalization is $288.03 million. ZAGG has a 12 month low of $5.15 and a 12 month high of $10.45.

Large investors have recently made changes to their positions in the company. American International Group Inc. boosted its stake in shares of ZAGG by 7.0% in the first quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock worth $122,000 after buying an additional 1,117 shares during the period. Wedbush Securities Inc. bought a new stake in shares of ZAGG during the first quarter worth approximately $130,000. Alliancebernstein L.P. bought a new stake in shares of ZAGG during the second quarter worth approximately $169,000. Brandes Investment Partners LP raised its stake in shares of ZAGG by 86.9% in the first quarter. Brandes Investment Partners LP now owns 19,621 shares of the specialty retailer’s stock worth $141,000 after buying an additional 9,122 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of ZAGG by 587.9% in the first quarter. Strs Ohio now owns 22,700 shares of the specialty retailer’s stock worth $163,000 after buying an additional 19,400 shares in the last quarter. Institutional investors and hedge funds own 78.04% of the company’s stock.

ZAGG has been the topic of several recent analyst reports. Roth Capital set a $8.00 target price on ZAGG and gave the company a “hold” rating in a report on Wednesday, May 3rd. Wunderlich dropped their target price on ZAGG from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, May 3rd. TheStreet upgraded shares of ZAGG from a “d+” rating to a “c-” rating in a research note on Friday, May 5th. Zacks Investment Research downgraded shares of ZAGG from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, Northland Securities set a $10.00 price objective on shares of ZAGG and gave the company a “buy” rating in a research note on Tuesday, July 25th. One research 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 company. ZAGG currently has a consensus rating of “Buy” and a consensus target price of $9.75.

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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.