Zagg (ZAGG) Hits New 1-Year Low at $6.24

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Zagg Inc (NASDAQ:ZAGG) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.24 and last traded at $6.61, with a volume of 19497 shares changing hands. The stock had previously closed at $6.37.

A number of equities research analysts recently issued reports on ZAGG shares. Zacks Investment Research downgraded shares of Zagg from a “hold” rating to a “strong sell” rating in a report on Saturday, May 11th. ValuEngine downgraded shares of Zagg from a “sell” rating to a “strong sell” rating in a report on Thursday, March 14th. Finally, BidaskClub downgraded shares of Zagg from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Zagg presently has an average rating of “Sell” and an average price target of $13.50.

The stock has a market cap of $194.99 million, a price-to-earnings ratio of 4.66, a P/E/G ratio of 0.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.08 and a current ratio of 2.01.

Zagg (NASDAQ:ZAGG) last announced its quarterly earnings results on Tuesday, May 7th. The specialty retailer reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.09). The business had revenue of $78.80 million for the quarter, compared to analyst estimates of $78.75 million. Zagg had a net margin of 3.51% and a return on equity of 13.95%. The company’s quarterly revenue was down 29.7% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. As a group, research analysts predict that Zagg Inc will post 1.39 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Zagg by 11.5% during the third quarter. BlackRock Inc. now owns 2,548,418 shares of the specialty retailer’s stock valued at $37,590,000 after buying an additional 263,141 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Zagg by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,903,096 shares of the specialty retailer’s stock worth $17,261,000 after purchasing an additional 6,371 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its position in shares of Zagg by 28.8% during the first quarter. Pacific Ridge Capital Partners LLC now owns 785,320 shares of the specialty retailer’s stock worth $7,123,000 after purchasing an additional 175,722 shares in the last quarter. Tieton Capital Management LLC lifted its position in shares of Zagg by 18.0% during the first quarter. Tieton Capital Management LLC now owns 534,170 shares of the specialty retailer’s stock worth $4,845,000 after purchasing an additional 81,363 shares in the last quarter. Finally, Signia Capital Management LLC lifted its position in shares of Zagg by 103.6% during the first quarter. Signia Capital Management LLC now owns 369,542 shares of the specialty retailer’s stock worth $3,351,000 after purchasing an additional 188,051 shares in the last quarter. 77.92% of the stock is currently owned by hedge funds and other institutional investors.

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Zagg Company Profile (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. 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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