Northland Securities Reiterates “Buy” Rating for Zagg (ZAGG)

Zagg (NASDAQ:ZAGG)‘s stock had its “buy” rating reissued by stock analysts at Northland Securities in a note issued to investors on Friday. They presently have a $23.00 price objective on the specialty retailer’s stock. Northland Securities’ price objective would indicate a potential upside of 14.14% from the company’s current price.

Several other analysts have also issued reports on the company. TheStreet upgraded Zagg from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Zagg from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a research note on Thursday, October 26th. Roth Capital set a $17.00 target price on Zagg and gave the company a “hold” rating in a research note on Tuesday, October 17th. B. Riley set a $17.00 target price on Zagg and gave the company a “hold” rating in a research note on Monday, October 30th. Finally, Craig Hallum restated a “buy” rating and issued a $23.00 target price (up from $16.00) on shares of Zagg in a research note on Thursday, October 19th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $18.83.

Zagg (NASDAQ ZAGG) traded down $0.30 during mid-day trading on Friday, reaching $20.15. The company’s stock had a trading volume of 806,700 shares, compared to its average volume of 458,776. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 1.12. Zagg has a twelve month low of $5.90 and a twelve month high of $23.70. The stock has a market capitalization of $563.70, a PE ratio of 77.50, a P/E/G ratio of 4.02 and a beta of 0.93.

Zagg (NASDAQ:ZAGG) last issued its earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The firm had revenue of $134.40 million for the quarter, compared to analyst estimates of $128.23 million. Zagg had a return on equity of 6.59% and a net margin of 0.63%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. equities research analysts forecast that Zagg will post 1 earnings per share for the current year.

In related news, insider Brian Stech sold 20,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $18.08, for a total transaction of $361,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bradley J. Holiday sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $19.02, for a total value of $190,200.00. Following the sale, the chief financial officer now owns 89,587 shares in the company, valued at $1,703,944.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,830 shares of company stock worth $1,903,425. Corporate insiders own 4.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. 1st Global Advisors Inc. raised its stake in shares of Zagg by 1.6% during the 2nd quarter. 1st Global Advisors Inc. now owns 27,912 shares of the specialty retailer’s stock valued at $241,000 after purchasing an additional 448 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Zagg by 1.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 44,638 shares of the specialty retailer’s stock valued at $386,000 after purchasing an additional 604 shares during the period. American International Group Inc. raised its stake in shares of Zagg by 7.0% during the 1st quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock valued at $122,000 after purchasing an additional 1,117 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Zagg by 2.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 93,133 shares of the specialty retailer’s stock valued at $806,000 after purchasing an additional 2,261 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of Zagg by 5.0% during the 2nd quarter. Teachers Advisors LLC now owns 50,494 shares of the specialty retailer’s stock valued at $437,000 after purchasing an additional 2,401 shares during the period. Institutional investors own 82.75% of the company’s stock.

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About Zagg

ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.

Analyst Recommendations for Zagg (NASDAQ:ZAGG)

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