Zagg (ZAGG) Downgraded by ValuEngine

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ValuEngine lowered shares of Zagg (NASDAQ:ZAGG) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning.

Several other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of Zagg from a strong sell rating to a sell rating in a research report on Wednesday, January 2nd. Zacks Investment Research raised shares of Zagg from a hold rating to a strong-buy rating and set a $12.00 target price for the company in a research report on Saturday, January 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $17.75.

Shares of ZAGG stock traded up $0.25 during mid-day trading on Thursday, reaching $9.53. The company’s stock had a trading volume of 8,071 shares, compared to its average volume of 316,106. Zagg has a 12-month low of $7.96 and a 12-month high of $19.40. The company has a current ratio of 1.76, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. The company has a market cap of $301.00 million, a PE ratio of 6.49, a P/E/G ratio of 0.95 and a beta of 1.54.

Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Tuesday, March 12th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. Zagg had a net margin of 7.28% and a return on equity of 28.63%. The firm had revenue of $166.51 million for the quarter, compared to the consensus estimate of $163.31 million. Equities research analysts expect that Zagg will post 1.52 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Zagg by 11.5% during the 3rd quarter. BlackRock Inc. now owns 2,548,418 shares of the specialty retailer’s stock valued at $37,590,000 after purchasing an additional 263,141 shares during the period. Dimensional Fund Advisors LP boosted its stake in Zagg by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,896,725 shares of the specialty retailer’s stock valued at $18,549,000 after purchasing an additional 11,077 shares during the period. Baird Financial Group Inc. boosted its stake in Zagg by 3.2% during the 3rd quarter. Baird Financial Group Inc. now owns 623,065 shares of the specialty retailer’s stock valued at $9,066,000 after purchasing an additional 19,494 shares during the period. Tieton Capital Management LLC boosted its stake in Zagg by 1.0% during the 4th quarter. Tieton Capital Management LLC now owns 452,807 shares of the specialty retailer’s stock valued at $4,428,000 after purchasing an additional 4,270 shares during the period. Finally, Northern Trust Corp raised its position in shares of Zagg by 8.2% during the 2nd quarter. Northern Trust Corp now owns 406,625 shares of the specialty retailer’s stock worth $7,034,000 after buying an additional 30,715 shares in the last quarter. 80.95% of the stock is owned by institutional investors.

Zagg Company Profile

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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