ZAGG Inc (ZAGG) Given Buy Rating at Wunderlich

Wunderlich reiterated their buy rating on shares of ZAGG Inc (NASDAQ:ZAGG) in a report issued on Friday, June 9th. They currently have a $10.00 price target on the specialty retailer’s stock.

ZAGG has been the topic of a number of other research reports. TheStreet cut shares of ZAGG from a c rating to a d+ rating in a research report on Tuesday, March 7th. Roth Capital set a $8.00 price objective on shares of ZAGG and gave the company a hold rating in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research upgraded shares of ZAGG from a hold rating to a strong-buy rating and set a $7.75 price objective on the stock in a research report on Friday, March 10th.

ZAGG (ZAGG) traded down 2.91% during midday trading on Friday, hitting $8.35. 426,048 shares of the stock were exchanged. The firm’s 50-day moving average price is $8.30 and its 200 day moving average price is $7.19. ZAGG has a 1-year low of $4.74 and a 1-year high of $9.15. The firm’s market capitalization is $233.47 million.

ZAGG (NASDAQ:ZAGG) last released its quarterly earnings results on Tuesday, May 2nd. The specialty retailer reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.01. The company had revenue of $92.95 million for the quarter, compared to the consensus estimate of $88.29 million. ZAGG had a negative net margin of 4.26% and a positive return on equity of 4.81%. Analysts expect that ZAGG will post $0.77 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of ZAGG. Penn Capital Management Co. Inc. bought a new position in ZAGG during the third quarter worth approximately $2,975,000. Mackenzie Financial Corp bought a new position in ZAGG during the third quarter worth approximately $1,825,000. Russell Investments Group Ltd. bought a new position in ZAGG during the fourth quarter worth approximately $1,278,000. Royce & Associates LP boosted its position in ZAGG by 64.6% in the first quarter. Royce & Associates LP now owns 401,900 shares of the specialty retailer’s stock worth $2,894,000 after buying an additional 157,700 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC boosted its position in ZAGG by 28.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 608,701 shares of the specialty retailer’s stock worth $4,383,000 after buying an additional 133,304 shares during the last quarter. Hedge funds and other institutional investors own 79.23% of the company’s stock.

About ZAGG

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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