According to Zacks, “ZAGG Inc. designs, manufactures and distributes protective clear coverings and accessories for consumer electronic and hand-held devices, worldwide. ZAGG’s flagship brand, the invisibleSHIELD, is a protective, high-tech patented film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices and other items. The patent-pending invisibleSHIELD application is the first scratch protection solution of its kind on the market, and has sold over one million units. Currently, ZAGG offers over 2,500 precision pre-cut designs with a lifetime replacement warranty through online channels, resellers, college bookstores, Mac stores and mall kiosks. The company continues to increase its product lines to offer additional electronic accessories to its tech-savvy customer base, as well as an expanded array of invisibleSHIELD products for other industries. “
Separately, Roth Capital boosted their target price on Zagg from $5.00 to $6.00 and gave the stock a neutral rating in a research report on Thursday, July 14th.
Shares of Zagg (NASDAQ:ZAGG) opened at 7.65 on Thursday. The firm has a market capitalization of $215.14 million, a P/E ratio of 49.04 and a beta of 1.69. The company’s 50 day moving average price is $7.71 and its 200-day moving average price is $6.87. Zagg has a 12 month low of $4.71 and a 12 month high of $12.74.
Zagg (NASDAQ:ZAGG) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.14. Zagg had a return on equity of 8.43% and a net margin of 1.42%. The firm had revenue of $99.80 million for the quarter, compared to the consensus estimate of $93.07 million. During the same period in the previous year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was up 49.7% compared to the same quarter last year. On average, equities analysts predict that Zagg will post $0.45 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. Wesbanco Bank Inc. purchased a new stake in Zagg during the second quarter worth approximately $121,000. KCG Holdings Inc. increased its stake in shares of Zagg by 6.8% in the second quarter. KCG Holdings Inc. now owns 26,546 shares of the company’s stock valued at $139,000 after buying an additional 1,685 shares in the last quarter. Strs Ohio increased its stake in shares of Zagg by 8.2% in the second quarter. Strs Ohio now owns 27,700 shares of the company’s stock valued at $145,000 after buying an additional 2,100 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Zagg by 11.1% in the second quarter. Rhumbline Advisers now owns 30,540 shares of the company’s stock valued at $160,000 after buying an additional 3,060 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Zagg by 1,610.5% in the second quarter. BlackRock Inc. now owns 30,600 shares of the company’s stock valued at $161,000 after buying an additional 28,811 shares in the last quarter. Institutional investors own 77.68% 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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