ZAGG Inc (ZAGG) Price Target Raised to $16.00

ZAGG Inc (NASDAQ:ZAGG) had its target price increased by analysts at Northland Securities from $12.00 to $16.00 in a report issued on Wednesday. The firm presently has an “outperform” rating on the specialty retailer’s stock. Northland Securities’ price target would suggest a potential upside of 31.69% from the company’s previous close.

ZAGG has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of ZAGG from a “hold” rating to a “strong-buy” rating and set a $10.00 price target on the stock in a research note on Friday, August 4th. BidaskClub upgraded shares of ZAGG from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Wunderlich reiterated a “buy” rating and set a $10.00 price target on shares of ZAGG in a research note on Friday, June 9th. Finally, Roth Capital set a $9.00 price target on shares of ZAGG and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $11.25.

Shares of ZAGG (ZAGG) traded up 8.23% during mid-day trading on Wednesday, hitting $13.15. 454,156 shares of the company’s stock were exchanged. ZAGG has a 52 week low of $5.15 and a 52 week high of $13.25. The firm has a 50 day moving average price of $10.56 and a 200-day moving average price of $8.44. The company’s market capitalization is $367.73 million.

ZAGG (NASDAQ:ZAGG) last posted its quarterly earnings results on Tuesday, August 1st. The specialty retailer reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. ZAGG had a negative net margin of 3.12% and a positive return on equity of 5.34%. The firm had revenue of $115.20 million for the quarter, compared to the consensus estimate of $107.81 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The business’s revenue was up 15.4% compared to the same quarter last year. On average, equities analysts anticipate that ZAGG will post $0.85 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece was published by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.themarketsdaily.com/2017/09/13/zagg-inc-zagg-price-target-raised-to-16-00.html.

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of ZAGG by 6.4% during the first quarter. Vanguard Group Inc. now owns 1,106,248 shares of the specialty retailer’s stock valued at $7,964,000 after acquiring an additional 66,284 shares during the period. Perkins Capital Management Inc. bought a new position in shares of ZAGG during the second quarter valued at $602,000. Seizert Capital Partners LLC lifted its holdings in shares of ZAGG by 2.7% during the second quarter. Seizert Capital Partners LLC now owns 300,999 shares of the specialty retailer’s stock valued at $2,604,000 after acquiring an additional 7,989 shares during the period. American International Group Inc. lifted its holdings in shares of ZAGG by 7.0% during the first quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock valued at $122,000 after acquiring an additional 1,117 shares during the period. Finally, Strs Ohio lifted its holdings in shares of ZAGG by 587.9% during the first quarter. Strs Ohio now owns 22,700 shares of the specialty retailer’s stock valued at $163,000 after acquiring an additional 19,400 shares during the period. 81.77% of the stock is owned by institutional investors.

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.

Receive News & Ratings for ZAGG Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ZAGG Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply