ZAGG Inc (ZAGG) Trading Up 5.9%
Shares of ZAGG Inc (NASDAQ:ZAGG) were up 5.9% during trading on Tuesday . The stock traded as high as $23.30 and last traded at $23.25. Approximately 1,237,931 shares were traded during mid-day trading, an increase of 181% from the average daily volume of 439,930 shares. The stock had previously closed at $21.95.
Several analysts recently commented on ZAGG shares. Zacks Investment Research upgraded ZAGG from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Thursday, October 26th. 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. Roth Capital set a $17.00 price target on ZAGG and gave the stock a “hold” rating in a report on Tuesday, October 17th. TheStreet upgraded ZAGG from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. Finally, B. Riley upgraded ZAGG from a “neutral” rating to a “buy” rating and increased their price target for the stock from $17.00 to $20.00 in a report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $17.67.
The stock has a market capitalization of $614.06, a price-to-earnings ratio of 82.50, a PEG ratio of 4.28 and a beta of 0.82. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 0.07.
ZAGG (NASDAQ:ZAGG) last posted its quarterly earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $134.40 million for the quarter, compared to analysts’ expectations of $128.23 million. ZAGG had a return on equity of 6.59% and a net margin of 0.63%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 EPS. research analysts expect that ZAGG Inc will post 1 earnings per share for the current fiscal year.
In related news, insider Brian Stech sold 20,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $18.08, for a total value of $361,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Randall L. Hales sold 50,001 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $19.16, for a total value of $958,019.16. Following the completion of the transaction, the chief executive officer now owns 713,380 shares in the company, valued at $13,668,360.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,830 shares of company stock worth $1,903,425. 4.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of ZAGG by 6.4% in the 1st quarter. Vanguard Group Inc. now owns 1,106,248 shares of the specialty retailer’s stock worth $7,964,000 after purchasing an additional 66,284 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of ZAGG by 7.3% in 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 in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of ZAGG by 49.8% in the 2nd quarter. Moors & Cabot Inc. now owns 119,900 shares of the specialty retailer’s stock worth $1,040,000 after purchasing an additional 39,850 shares in the last quarter. Perkins Capital Management Inc. bought a new position in shares of ZAGG in the 2nd quarter worth $602,000. Finally, Numeric Investors LLC bought a new position in shares of ZAGG in the 2nd quarter worth $707,000. Institutional investors own 80.94% of the company’s stock.
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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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