Zagg Inc (NASDAQ:ZAGG) shares rose 6.3% during trading on Friday . The company traded as high as $13.45 and last traded at $13.40. Approximately 774,887 shares were traded during mid-day trading, an increase of 20% from the average daily volume of 647,188 shares. The stock had previously closed at $12.60.
ZAGG has been the subject of a number of recent research reports. B. Riley set a $20.00 target price on Zagg and gave the company a “buy” rating in a research note on Tuesday, March 6th. Zacks Investment Research upgraded Zagg from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, February 13th. Craig Hallum set a $24.00 price objective on Zagg and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. ValuEngine upgraded Zagg from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Northland Securities reiterated a “buy” rating and set a $23.00 price objective on shares of Zagg in a research note on Friday, December 1st. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Zagg currently has an average rating of “Buy” and a consensus target price of $17.57.
The company has a debt-to-equity ratio of 0.07, a current ratio of 1.12 and a quick ratio of 0.68. The firm has a market cap of $378.20, a P/E ratio of 12.76, a PEG ratio of 1.91 and a beta of 0.96.
A number of institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC grew its holdings in shares of Zagg by 1.4% during the second quarter. Parametric Portfolio Associates LLC now owns 44,638 shares of the specialty retailer’s stock worth $386,000 after purchasing an additional 604 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Zagg by 18.2% during the second quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock worth $153,000 after purchasing an additional 2,730 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Zagg by 13.1% during the fourth quarter. Wells Fargo & Company MN now owns 48,283 shares of the specialty retailer’s stock worth $890,000 after purchasing an additional 5,578 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Zagg during the fourth quarter worth $108,000. Finally, Cadence Capital Management LLC grew its holdings in shares of Zagg by 7.8% during the fourth quarter. Cadence Capital Management LLC now owns 97,559 shares of the specialty retailer’s stock worth $1,800,000 after purchasing an additional 7,026 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.
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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.
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