Zagg (ZAGG) Upgraded at ValuEngine

ValuEngine upgraded shares of Zagg (NASDAQ:ZAGG) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

A number of other research analysts have also commented on the company. TheStreet raised Zagg from a c rating to a b- rating in a report on Wednesday, November 1st. Zacks Investment Research raised Zagg from a hold rating to a strong-buy rating and set a $20.00 price target on the stock in a report on Thursday, October 26th. Roth Capital set a $17.00 price target on Zagg and gave the company a hold rating in a report on Tuesday, October 17th. B. Riley set a $17.00 price target on Zagg and gave the company a hold rating in a report on Monday, October 30th. Finally, Northland Securities reissued a buy rating and set a $23.00 price target on shares of Zagg in a report on Friday, December 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $19.17.

Shares of Zagg (ZAGG) opened at $17.30 on Tuesday. Zagg has a 52-week low of $5.90 and a 52-week high of $23.70. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $476.98, a price-to-earnings ratio of 65.58, a price-to-earnings-growth ratio of 2.58 and a beta of 0.93.

Zagg (NASDAQ:ZAGG) last issued its earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The firm had revenue of $134.40 million for the quarter, compared to analyst estimates of $128.23 million. Zagg had a return on equity of 6.59% and a net margin of 0.63%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. equities analysts anticipate that Zagg will post 0.98 EPS for the current fiscal year.

In related news, CEO Randall L. Hales sold 19,829 shares of Zagg stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $19.85, for a total transaction of $393,605.65. Following the transaction, the chief executive officer now directly owns 713,380 shares of the company’s stock, valued at $14,160,593. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brian Stech sold 20,000 shares of Zagg stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $18.08, for a total value of $361,600.00. The disclosure for this sale can be found here. Insiders have sold 99,830 shares of company stock worth $1,903,425 over the last three months. Corporate insiders own 4.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. grew its holdings in Zagg by 7.3% during the second quarter. Wasatch Advisors Inc. now owns 1,370,557 shares of the specialty retailer’s stock worth $11,855,000 after acquiring an additional 93,551 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Zagg during the third quarter worth about $523,000. Systematic Financial Management LP acquired a new position in Zagg during the third quarter worth about $582,000. Moors & Cabot Inc. grew its holdings in Zagg by 49.8% during the second quarter. Moors & Cabot Inc. now owns 119,900 shares of the specialty retailer’s stock worth $1,040,000 after acquiring an additional 39,850 shares during the period. Finally, EAM Investors LLC acquired a new position in Zagg during the third quarter worth about $6,040,000. 82.75% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This news story was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The legal version of this news story can be read at https://stocknewstimes.com/2018/01/20/zagg-zagg-upgraded-at-valuengine.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Zagg (NASDAQ:ZAGG)

Receive News & Ratings for Zagg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zagg and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply