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. “
Other equities research analysts have also issued reports about the company. Craig Hallum lowered Zagg from a buy rating to a hold rating in a research note on Thursday, March 12th. ValuEngine lowered Zagg from a hold rating to a sell rating in a research note on Thursday, April 30th. DA Davidson cut their price objective on Zagg from $17.00 to $9.00 and set a buy rating for the company in a research note on Thursday, March 12th. Finally, TheStreet lowered Zagg from a c- rating to a d rating in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $10.50.
Shares of Zagg stock opened at $3.14 on Friday. Zagg has a twelve month low of $2.06 and a twelve month high of $9.01. The business has a 50-day moving average price of $3.06 and a 200 day moving average price of $5.19. The company has a quick ratio of 1.01, a current ratio of 1.92 and a debt-to-equity ratio of 0.93. The firm has a market cap of $93.64 million, a PE ratio of -2.00 and a beta of 1.61.
Zagg (NASDAQ:ZAGG) last posted its quarterly earnings data on Thursday, May 28th. The specialty retailer reported ($1.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($1.59). Zagg had a positive return on equity of 9.56% and a negative net margin of 8.84%. The firm had revenue of $90.98 million for the quarter. On average, sell-side analysts expect that Zagg will post -3.34 EPS for the current year.
In related news, Director Edward Terino bought 30,000 shares of the stock in a transaction dated Friday, April 17th. The shares were acquired at an average cost of $3.45 per share, for a total transaction of $103,500.00. Following the acquisition, the director now directly owns 30,000 shares in the company, valued at approximately $103,500. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.50% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in shares of Zagg during the 1st quarter worth approximately $28,000. JPMorgan Chase & Co. boosted its holdings in shares of Zagg by 362.3% during the 1st quarter. JPMorgan Chase & Co. now owns 9,938 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 13,727 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Zagg during the 1st quarter worth approximately $34,000. Man Group plc acquired a new position in Zagg in the fourth quarter valued at approximately $137,000. Finally, Russell Investments Group Ltd. acquired a new position in Zagg in the fourth quarter valued at approximately $188,000. Institutional investors and hedge funds own 92.95% 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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