Other analysts also recently issued research reports about the stock. Craig Hallum reaffirmed a buy rating and set a $23.00 price target (up previously from $16.00) on shares of ZAGG in a report on Thursday, October 19th. Northland Securities set a $10.00 price target on shares of ZAGG and gave the stock a buy rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of ZAGG from a hold rating to a buy rating and set a $9.50 price target for the company in a report on Wednesday, July 19th. Roth Capital set a $9.00 price target on shares of ZAGG and gave the stock a hold rating in a report on Wednesday, August 2nd. Finally, BidaskClub raised shares of ZAGG from a buy rating to a strong-buy rating in a report on Saturday, August 5th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $17.17.
ZAGG (NASDAQ:ZAGG) last issued its quarterly earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. ZAGG had a negative net margin of 3.12% and a positive return on equity of 5.34%. The company had revenue of $134.40 million during the quarter, compared to the consensus estimate of $128.23 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in ZAGG. AJO LP acquired a new position in ZAGG during the 2nd quarter worth approximately $3,715,000. Royce & Associates LP increased its position in ZAGG by 43.4% during the 2nd quarter. Royce & Associates LP now owns 576,154 shares of the specialty retailer’s stock worth $4,984,000 after purchasing an additional 174,254 shares in the last quarter. California Public Employees Retirement System increased its position in ZAGG by 134.5% during the 1st quarter. California Public Employees Retirement System now owns 197,900 shares of the specialty retailer’s stock worth $1,416,000 after purchasing an additional 113,500 shares in the last quarter. American Century Companies Inc. acquired a new position in ZAGG during the 3rd quarter worth approximately $1,521,000. Finally, Wasatch Advisors Inc. increased its position in ZAGG by 7.3% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,370,557 shares of the specialty retailer’s stock worth $11,855,000 after purchasing an additional 93,551 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.
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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