Zagg (ZAGG) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Zagg (NASDAQ:ZAGG) from a hold rating to a buy rating in a research report sent to investors on Sunday morning.

A number of other analysts have also issued reports on the company. Northland Securities reiterated a buy rating and issued a $23.00 price target on shares of Zagg in a report on Friday, December 1st. TheStreet upgraded Zagg from a c rating to a b- rating in a report on Wednesday, November 1st. B. Riley upgraded Zagg from a neutral rating to a buy rating and boosted their price target for the company from $17.00 to $20.00 in a report on Thursday, November 2nd. Zacks Investment Research upgraded Zagg from a hold rating to a strong-buy rating and set a $20.00 price target for the company in a report on Thursday, October 26th. Finally, Craig Hallum reiterated a buy rating and issued a $23.00 price target (up previously from $16.00) on shares of Zagg in a report on Thursday, October 19th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Zagg presently has an average rating of Buy and an average price target of $19.00.

Zagg (NASDAQ ZAGG) traded up $1.10 on Friday, hitting $20.05. The stock had a trading volume of 1,370,400 shares, compared to its average volume of 944,450. The company has a market capitalization of $530.13, a PE ratio of 200.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Zagg has a 1 year low of $5.90 and a 1 year high of $23.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 1.12.

Zagg (NASDAQ:ZAGG) last announced its quarterly earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $134.40 million during the quarter, compared to analyst estimates of $128.23 million. Zagg had a return on equity of 6.59% and a net margin of 0.63%. Zagg’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. sell-side analysts expect that Zagg will post 1 EPS for the current year.

In other Zagg news, insider Brian Stech sold 20,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $18.08, for a total transaction of $361,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Randall L. Hales sold 19,829 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $19.85, for a total value of $393,605.65. Following the sale, the chief executive officer now owns 713,380 shares of the company’s stock, valued at approximately $14,160,593. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,830 shares of company stock valued at $1,903,425. 4.20% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. 1st Global Advisors Inc. increased its position in shares of Zagg by 1.6% during the second quarter. 1st Global Advisors Inc. now owns 27,912 shares of the specialty retailer’s stock worth $241,000 after purchasing an additional 448 shares in the last quarter. Parametric Portfolio Associates LLC increased its position 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 in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Zagg by 2.5% during the second quarter. TIAA CREF Investment Management LLC now owns 93,133 shares of the specialty retailer’s stock worth $806,000 after purchasing an additional 2,261 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Zagg by 5.0% during the second quarter. Teachers Advisors LLC now owns 50,494 shares of the specialty retailer’s stock worth $437,000 after purchasing an additional 2,401 shares in the last quarter. Finally, Voya Investment Management LLC increased its position 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 in the last quarter. Institutional investors own 82.75% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Zagg (NASDAQ:ZAGG)

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