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 brokerages have also recently weighed in on ZAGG. ValuEngine upgraded Zagg from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Craig Hallum decreased their price objective on Zagg from $17.50 to $12.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.00.
Shares of ZAGG traded up $0.04 during midday trading on Friday, hitting $6.39. The stock had a trading volume of 572,631 shares, compared to its average volume of 552,752. The firm has a market cap of $182.48 million, a price-to-earnings ratio of 4.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.37. The company has a 50 day simple moving average of $6.23 and a two-hundred day simple moving average of $7.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.86 and a quick ratio of 0.99. Zagg has a twelve month low of $5.26 and a twelve month high of $13.81.
Zagg (NASDAQ:ZAGG) last announced its quarterly earnings data on Tuesday, August 6th. The specialty retailer reported ($0.09) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). The company had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $105.41 million. Zagg had a return on equity of 9.82% and a net margin of 1.86%. Zagg’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. Analysts forecast that Zagg will post 0.85 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in Zagg by 540.7% during 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 period. D. E. Shaw & Co. Inc. bought a new position in Zagg during the second quarter worth about $172,000. D.A. Davidson & CO. grew its holdings in Zagg by 86.3% during 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 period. JPMorgan Chase & Co. grew its holdings in Zagg by 34.4% during 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 period. Finally, Municipal Employees Retirement System of Michigan grew its holdings in Zagg by 56.8% during 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 period. Institutional investors own 81.40% of the company’s stock.
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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