Zagg Inc (NASDAQ:ZAGG) – Equities researchers at B. Riley cut their FY2019 earnings estimates for shares of Zagg in a research report issued on Wednesday, November 7th. B. Riley analyst J. Van. Sinderen now expects that the specialty retailer will earn $1.35 per share for the year, down from their prior estimate of $1.49. B. Riley has a “Neutral” rating and a $15.00 price target on the stock.
Several other brokerages also recently weighed in on ZAGG. BidaskClub upgraded Zagg from a “hold” rating to a “buy” rating in a report on Saturday, August 25th. ValuEngine downgraded Zagg from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.50.
Zagg (NASDAQ:ZAGG) last issued its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.09. Zagg had a return on equity of 33.12% and a net margin of 6.00%. The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $149.13 million. During the same quarter in the prior year, the business earned $0.34 EPS. Zagg’s revenue was up 5.0% on a year-over-year basis.
In other news, President Brian Stech sold 10,000 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $14.67, for a total value of $146,700.00. Following the transaction, the president now owns 198,864 shares in the company, valued at approximately $2,917,334.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Zagg in the 3rd quarter valued at about $126,000. Prudential Financial Inc. bought a new stake in Zagg during the third quarter valued at approximately $149,000. Reliance Trust Co. of Delaware bought a new stake in Zagg during the second quarter valued at approximately $180,000. Victory Capital Management Inc. bought a new stake in Zagg during the third quarter valued at approximately $198,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Zagg during the second quarter valued at approximately $233,000. Institutional investors and hedge funds own 84.53% of the company’s stock.
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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