Zagg (ZAGG) Stock Rating Lowered by BidaskClub

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BidaskClub cut shares of Zagg (NASDAQ:ZAGG) from a hold rating to a sell rating in a research note published on Friday.

Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Zagg from a sell rating to a strong sell rating in a research note on Saturday, January 19th. Zacks Investment Research downgraded shares of Zagg from a buy rating to a hold rating in a research note on Saturday, February 16th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $17.00.

Shares of NASDAQ ZAGG opened at $9.91 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.76 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $275.43 million, a price-to-earnings ratio of 6.88, a PEG ratio of 0.95 and a beta of 1.54. Zagg has a 1 year low of $7.96 and a 1 year high of $19.40.

Zagg (NASDAQ:ZAGG) last announced its quarterly earnings data 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. The business had revenue of $166.51 million during the quarter, compared to the consensus estimate of $163.31 million. Zagg had a net margin of 7.28% and a return on equity of 28.63%. On average, sell-side analysts predict that Zagg will post 1.52 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Baird Financial Group Inc. raised its stake in shares of Zagg by 3.2% during the third quarter. Baird Financial Group Inc. now owns 623,065 shares of the specialty retailer’s stock valued at $9,066,000 after acquiring an additional 19,494 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Zagg during the third quarter valued at approximately $149,000. Sapphire Star Partners LP raised its stake in shares of Zagg by 49.7% during the third quarter. Sapphire Star Partners LP now owns 33,623 shares of the specialty retailer’s stock valued at $496,000 after acquiring an additional 11,167 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in shares of Zagg by 53.9% during the third quarter. MetLife Investment Advisors LLC now owns 21,733 shares of the specialty retailer’s stock valued at $321,000 after acquiring an additional 7,615 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Zagg by 52.9% during the second quarter. Bank of America Corp DE now owns 48,308 shares of the specialty retailer’s stock valued at $835,000 after acquiring an additional 16,711 shares in the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

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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