Zagg (ZAGG) Reaches New 12-Month Low at $9.37

Shares of Zagg Inc (NASDAQ:ZAGG) hit a new 52-week low on Thursday . The company traded as low as $9.37 and last traded at $9.60, with a volume of 4411 shares. The stock had previously closed at $9.63.

A number of analysts have weighed in on the company. BidaskClub raised Zagg from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. TheStreet cut Zagg from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. ValuEngine cut Zagg from a “sell” rating to a “strong sell” rating in a research report on Friday, October 19th. Finally, B. Riley reduced their price target on Zagg from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, November 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Zagg currently has a consensus rating of “Hold” and a consensus price target of $18.80.

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.76 and a quick ratio of 1.13. The company has a market capitalization of $269.04 million, a P/E ratio of 9.96, a PEG ratio of 0.95 and a beta of 1.68.

Zagg (NASDAQ:ZAGG) last posted its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The business had revenue of $141.10 million for the quarter, compared to analyst estimates of $149.13 million. Zagg had a return on equity of 32.36% and a net margin of 6.00%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. Equities analysts expect that Zagg Inc will post 1.36 EPS for the current fiscal year.

In other news, President Brian Stech sold 10,000 shares of Zagg 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 directly owns 198,864 shares in the company, valued at $2,917,334.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Capital Fund Management S.A. bought a new position in shares of Zagg in the second quarter worth about $386,000. Bowling Portfolio Management LLC bought a new position in Zagg during the third quarter valued at about $1,077,000. Globeflex Capital L P increased its stake in Zagg by 123.2% during the second quarter. Globeflex Capital L P now owns 79,000 shares of the specialty retailer’s stock valued at $1,367,000 after acquiring an additional 43,600 shares during the period. Baird Financial Group Inc. increased its stake in Zagg by 3.2% during the third quarter. Baird Financial Group Inc. now owns 623,065 shares of the specialty retailer’s stock valued at $9,066,000 after acquiring an additional 19,494 shares during the period. Finally, Strategic Wealth Advisors Group LLC bought a new position in Zagg during the second quarter valued at about $760,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

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About Zagg (NASDAQ: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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