Zagg Inc (ZAGG) Given Average Recommendation of “Hold” by Brokerages

Shares of Zagg Inc (NASDAQ:ZAGG) have been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $19.50.

A number of research firms recently issued reports on ZAGG. BidaskClub upgraded Zagg from a “hold” rating to a “buy” rating in a report on Saturday, August 25th. TheStreet lowered Zagg from a “b-” rating to a “c+” rating in a report on Monday, November 12th. B. Riley lifted their target price on Zagg from $16.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Finally, ValuEngine lowered Zagg from a “hold” rating to a “sell” rating in a report on Monday, September 24th.

In related news, President Brian Stech sold 10,000 shares of Zagg stock in a transaction on Monday, October 1st. The stock was sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the transaction, the president now directly owns 198,864 shares in the company, valued at $2,917,334.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ZAGG. BlackRock Inc. raised its stake in Zagg by 25.2% in the second quarter. BlackRock Inc. now owns 2,285,277 shares of the specialty retailer’s stock valued at $39,535,000 after buying an additional 459,802 shares in the last quarter. American Century Companies Inc. acquired a new stake in Zagg in the third quarter valued at $4,514,000. Dalton Greiner Hartman Maher & Co. acquired a new stake in Zagg in the third quarter valued at $2,800,000. Chicago Equity Partners LLC raised its stake in Zagg by 308.5% in the second quarter. Chicago Equity Partners LLC now owns 240,510 shares of the specialty retailer’s stock valued at $4,161,000 after buying an additional 181,635 shares in the last quarter. Finally, Baird Financial Group Inc. raised its stake in Zagg by 26.1% in the second quarter. Baird Financial Group Inc. now owns 603,571 shares of the specialty retailer’s stock valued at $10,442,000 after buying an additional 125,035 shares in the last quarter. Institutional investors own 86.88% of the company’s stock.

Shares of ZAGG traded up $0.18 during midday trading on Friday, hitting $10.64. 4,930 shares of the stock were exchanged, compared to its average volume of 362,335. Zagg has a 52-week low of $9.61 and a 52-week high of $23.70. The firm has a market cap of $290.72 million, a P/E ratio of 10.97, a P/E/G ratio of 1.10 and a beta of 1.66. The company has a quick ratio of 1.13, a current ratio of 1.76 and a debt-to-equity ratio of 0.19.

Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. Zagg had a return on equity of 32.36% and a net margin of 6.00%. The business had revenue of $141.10 million during the quarter, compared to analyst estimates of $149.13 million. During the same period last year, the business posted $0.34 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts expect that Zagg will post 1.36 earnings per share for the current year.

About Zagg

ZAGG Inc, together with its subsidiaries, designs, manufactures, and distributes mobile tech accessories for smartphones and tablets in the United States, Europe, and internationally. It operates in ZAGG and mophie segments. The company offers screen protection products; battery cases and power management products for tablets, smartphones, MP3 players, cameras, and other electronic mobile devices; device specific keyboards and device agnostic keyboards; and earbuds, headphones, wireless charging products, Bluetooth speakers, and cables under the ZAGG, InvisibleShield, IFROGZ, and mophie brands.

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Analyst Recommendations for Zagg (NASDAQ:ZAGG)

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