Zebra Technologies Corporation (ZBRA) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Zebra Technologies Corporation (NASDAQ:ZBRA) from a buy rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Zebra Technologies Corporation and its wholly-owned subsidiaries design, manufacture and support a broad range of direct thermal and thermal transfer bar code label printers, receipt printers, instant-issuance plastic card printers and secure identification printing systems, related accessories, and support software. The company markets its products worldwide principally to manufacturing and service organizations for use in automatic identification, data collection, and personal identification systems. “

Several other equities research analysts have also recently issued reports on ZBRA. Needham & Company LLC reiterated a buy rating and issued a $118.00 price target (up from $107.00) on shares of Zebra Technologies Corporation in a research note on Thursday, August 10th. BidaskClub cut Zebra Technologies Corporation from a buy rating to a hold rating in a research note on Monday, July 24th. Finally, Barrington Research reiterated an outperform rating and issued a $125.00 price target (up from $110.00) on shares of Zebra Technologies Corporation in a research note on Tuesday, August 15th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $104.29.

Shares of Zebra Technologies Corporation (NASDAQ ZBRA) traded down 0.67% on Wednesday, hitting $111.38. The stock had a trading volume of 182,305 shares. Zebra Technologies Corporation has a one year low of $62.91 and a one year high of $113.12. The firm’s 50 day moving average is $107.65 and its 200-day moving average is $101.97. The stock’s market capitalization is $5.92 billion.

Zebra Technologies Corporation (NASDAQ:ZBRA) last posted its earnings results on Tuesday, August 8th. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.34 by $0.17. Zebra Technologies Corporation had a positive return on equity of 38.88% and a negative net margin of 1.14%. The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $876.90 million. During the same quarter in the prior year, the business earned $1.34 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Zebra Technologies Corporation will post $6.67 earnings per share for the current fiscal year.

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In other Zebra Technologies Corporation news, CEO Anders Gustafsson sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $106.04, for a total transaction of $2,651,000.00. Following the completion of the sale, the chief executive officer now directly owns 295,116 shares in the company, valued at $31,294,100.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Hugh K. Gagnier sold 20,682 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $106.42, for a total value of $2,200,978.44. Following the sale, the senior vice president now owns 39,072 shares of the company’s stock, valued at $4,158,042.24. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Highbridge Capital Management LLC bought a new stake in Zebra Technologies Corporation during the first quarter worth $362,000. Renaissance Technologies LLC lifted its stake in shares of Zebra Technologies Corporation by 483.6% in the 1st quarter. Renaissance Technologies LLC now owns 272,731 shares of the industrial products company’s stock valued at $24,887,000 after acquiring an additional 226,000 shares during the last quarter. State Street Corp lifted its stake in shares of Zebra Technologies Corporation by 2.1% in the 1st quarter. State Street Corp now owns 1,350,444 shares of the industrial products company’s stock valued at $123,234,000 after acquiring an additional 27,838 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of Zebra Technologies Corporation in the 2nd quarter valued at $100,000. Finally, Legal & General Group Plc lifted its stake in shares of Zebra Technologies Corporation by 23.6% in the 2nd quarter. Legal & General Group Plc now owns 43,984 shares of the industrial products company’s stock valued at $4,421,000 after acquiring an additional 8,404 shares during the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Zebra Technologies Corporation Company Profile

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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