Zagg (NASDAQ:ZAGG) Raised to Hold at Zacks Investment Research

Zagg (NASDAQ:ZAGG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Saturday, Zacks.com reports.

According to Zacks, “ZAGG Inc. designs, manufactures and distributes protective clear coverings and accessories for consumer electronic and hand-held devices, worldwide. ZAGG’s flagship brand, the invisibleSHIELD, is a protective, high-tech patented film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices and other items. The patent-pending invisibleSHIELD application is the first scratch protection solution of its kind on the market, and has sold over one million units. Currently, ZAGG offers over 2,500 precision pre-cut designs with a lifetime replacement warranty through online channels, resellers, college bookstores, Mac stores and mall kiosks. The company continues to increase its product lines to offer additional electronic accessories to its tech-savvy customer base, as well as an expanded array of invisibleSHIELD products for other industries. “

Several other research analysts also recently commented on the stock. ValuEngine upgraded shares of Zagg from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Craig Hallum lowered their price objective on shares of Zagg from $17.50 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $13.00.

ZAGG traded up $0.04 during trading on Friday, hitting $6.39. 572,631 shares of the stock traded hands, compared to its average volume of 552,752. Zagg has a twelve month low of $5.26 and a twelve month high of $13.81. The company has a market cap of $182.48 million, a price-to-earnings ratio of 4.44, a PEG ratio of 0.74 and a beta of 1.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.86 and a quick ratio of 0.99. The business has a 50 day moving average price of $6.23 and a 200 day moving average price of $7.01.

Zagg (NASDAQ:ZAGG) last announced its quarterly earnings data on Tuesday, August 6th. The specialty retailer reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). Zagg had a net margin of 1.86% and a return on equity of 9.82%. The business had revenue of $106.80 million during the quarter, compared to the consensus estimate of $105.41 million. During the same period in the previous year, the business earned $0.11 earnings per share. The company’s revenue was down 9.9% on a year-over-year basis. On average, equities research analysts predict that Zagg will post 0.85 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its stake in shares of Zagg by 540.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,472 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 3,774 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Zagg in the second quarter worth $172,000. D.A. Davidson & CO. grew its stake in shares of Zagg by 86.3% in the second quarter. D.A. Davidson & CO. now owns 26,504 shares of the specialty retailer’s stock worth $184,000 after purchasing an additional 12,279 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Zagg by 34.4% in the second quarter. JPMorgan Chase & Co. now owns 39,985 shares of the specialty retailer’s stock worth $276,000 after purchasing an additional 10,233 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of Zagg by 56.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 41,290 shares of the specialty retailer’s stock worth $287,000 after purchasing an additional 14,950 shares during the last quarter. 81.40% of the stock is currently owned by institutional investors.

Zagg Company Profile

ZAGG Inc, together with its subsidiaries, designs, manufactures, and distributes mobile tech accessories for smartphones and tablets in the United States, Europe, and internationally. The company offers screen protection products; protective cases to protect device-specific mobile devices and tablets; power management products for tablets, smartphones, smartwatches, cameras, and other electronic mobile devices; power stations, wireless chargers, car and wall chargers, portable power products, and power wallets; earbuds, headphones, and speakers; and device specific keyboards and device agnostic keyboards under the ZAGG, InvisibleShield, mophie, IFROGZ, BRAVEN, Gear4, and HALO brands.

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