Zagg (ZAGG) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Zagg (NASDAQ:ZAGG) from a hold rating to a buy rating in a research note released on Saturday.

Other equities research analysts have also recently issued research reports about the company. ValuEngine upgraded Zagg from a hold rating to a buy rating in a research note on Saturday, May 12th. Zacks Investment Research upgraded Zagg from a hold rating to a buy rating and set a $16.00 price target on the stock in a research note on Friday, May 11th. LADENBURG THALM/SH SH restated a buy rating and issued a $24.00 price target on shares of Zagg in a research note on Wednesday, May 9th. Finally, B. Riley increased their price target on Zagg from $16.00 to $17.00 and gave the company a hold rating in a research note on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Zagg has a consensus rating of Buy and a consensus price target of $19.43.

ZAGG opened at $16.00 on Friday. Zagg has a 1-year low of $10.90 and a 1-year high of $23.70. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $466.03 million, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 1.58 and a beta of 1.44.

Zagg (NASDAQ:ZAGG) last posted its quarterly earnings results on Tuesday, July 31st. The specialty retailer reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Zagg had a net margin of 5.18% and a return on equity of 30.17%. The business had revenue of $118.57 million during the quarter, compared to the consensus estimate of $116.44 million. equities analysts expect that Zagg will post 1.39 earnings per share for the current year.

In other Zagg news, President Brian Stech sold 10,000 shares of the company’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $17.09, for a total value of $170,900.00. Following the transaction, the president now directly owns 208,864 shares of the company’s stock, valued at approximately $3,569,485.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ZAGG. Wasatch Advisors Inc. grew its holdings in Zagg by 93.0% in the 1st quarter. Wasatch Advisors Inc. now owns 1,464,899 shares of the specialty retailer’s stock valued at $17,872,000 after buying an additional 705,844 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in Zagg by 25,879.6% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 545,571 shares of the specialty retailer’s stock valued at $6,656,000 after buying an additional 543,471 shares in the last quarter. BlackRock Inc. grew its holdings in Zagg by 25.2% in the 2nd quarter. BlackRock Inc. now owns 2,285,277 shares of the specialty retailer’s stock valued at $39,535,000 after buying an additional 459,802 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Zagg by 862.7% in the 1st quarter. Hsbc Holdings PLC now owns 435,663 shares of the specialty retailer’s stock valued at $5,315,000 after buying an additional 390,407 shares in the last quarter. Finally, Landscape Capital Management L.L.C. grew its holdings in Zagg by 523.6% in the 1st quarter. Landscape Capital Management L.L.C. now owns 405,456 shares of the specialty retailer’s stock valued at $4,947,000 after buying an additional 340,434 shares in the last quarter. 85.65% of the stock is currently 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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