A number of other analysts have also recently commented on the stock. Zacks Investment Research raised shares of ZAGG from a hold rating to a strong-buy rating and set a $20.00 target price for the company in a research note on Thursday, October 26th. Northland Securities upped their price objective on shares of ZAGG from $12.00 to $16.00 and gave the company an outperform rating in a research note on Wednesday, September 13th. Roth Capital set a $17.00 price objective on shares of ZAGG and gave the company a hold rating in a research note on Tuesday, October 17th. B. Riley raised shares of ZAGG from a neutral rating to a buy rating and upped their price objective for the company from $17.00 to $20.00 in a research note on Thursday, November 2nd. Finally, Craig Hallum reiterated a buy rating and issued a $23.00 target price (up from $16.00) on shares of ZAGG in a report on Thursday, October 19th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $17.67.
ZAGG (NASDAQ ZAGG) opened at $19.85 on Wednesday. ZAGG has a fifty-two week low of $5.90 and a fifty-two week high of $20.43. 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 $538.52, a price-to-earnings ratio of 74.04, a price-to-earnings-growth ratio of 3.90 and a beta of 0.82.
ZAGG (NASDAQ:ZAGG) last released its quarterly earnings data on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $128.23 million. ZAGG had a net margin of 0.63% and a return on equity of 6.59%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. equities research analysts expect that ZAGG will post 0.99 EPS for the current fiscal year.
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In related news, CEO Randall L. Hales sold 50,001 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $19.16, for a total value of $958,019.16. Following the transaction, the chief executive officer now directly owns 713,380 shares of the company’s stock, valued at approximately $13,668,360.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Randall L. Hales sold 19,829 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $19.85, for a total transaction of $393,605.65. Following the completion of the transaction, the chief executive officer now directly owns 713,380 shares in the company, valued at $14,160,593. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,830 shares of company stock worth $1,903,425. 4.20% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Wasatch Advisors Inc. boosted its stake in ZAGG by 7.3% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,370,557 shares of the specialty retailer’s stock worth $11,855,000 after purchasing an additional 93,551 shares during the period. Vanguard Group Inc. lifted its stake in shares of ZAGG by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,183,161 shares of the specialty retailer’s stock worth $10,235,000 after acquiring an additional 76,913 shares during the period. Penn Capital Management Co. Inc. lifted its stake in shares of ZAGG by 1.1% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 624,911 shares of the specialty retailer’s stock worth $5,405,000 after acquiring an additional 7,041 shares during the period. Royce & Associates LP lifted its stake in shares of ZAGG by 43.4% in the 2nd quarter. Royce & Associates LP now owns 576,154 shares of the specialty retailer’s stock worth $4,984,000 after acquiring an additional 174,254 shares during the period. Finally, State Street Corp lifted its stake in shares of ZAGG by 8.0% in the 2nd quarter. State Street Corp now owns 451,148 shares of the specialty retailer’s stock worth $3,904,000 after acquiring an additional 33,602 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.
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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