Zagg (ZAGG) Stock Price Up 5.8%

Zagg Inc (NASDAQ:ZAGG) shares rose 5.8% on Wednesday . The company traded as high as $20.81 and last traded at $20.05. Approximately 1,370,402 shares changed hands during trading, an increase of 45% from the average daily volume of 944,451 shares. The stock had previously closed at $18.95.

ZAGG has been the topic of a number of recent research reports. TheStreet raised shares of Zagg from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. Craig Hallum set a $24.00 price objective on shares of Zagg and gave the company a “buy” rating in a research note on Wednesday. ValuEngine upgraded shares of Zagg from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Northland Securities reiterated a “buy” rating and set a $23.00 price objective on shares of Zagg in a research note on Friday, December 1st. Finally, B. Riley upgraded shares of Zagg from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $17.00 to $20.00 in a research note on Thursday, November 2nd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Zagg has an average rating of “Buy” and an average price target of $19.00.

The firm has a market capitalization of $534.33, a P/E ratio of 191.50, a PEG ratio of 3.10 and a beta of 0.93. 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 (NASDAQ:ZAGG) last posted its quarterly earnings data on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $134.40 million for the quarter, compared to analyst estimates of $128.23 million. Zagg had a net margin of 0.63% and a return on equity of 6.59%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. equities research analysts forecast that Zagg Inc will post 1 earnings per share for the current year.

In related news, CEO Randall L. Hales sold 19,829 shares of Zagg stock in a transaction on Monday, November 13th. The shares were sold at an average price of $19.85, for a total value of $393,605.65. Following the completion of the sale, the chief executive officer now owns 713,380 shares in the company, valued at $14,160,593. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Randall L. Hales sold 50,001 shares of Zagg stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $19.16, for a total transaction of $958,019.16. Following the completion of the sale, the chief executive officer now owns 713,380 shares of the company’s stock, valued at approximately $13,668,360.80. The disclosure for this sale can be found here. Insiders have sold 99,830 shares of company stock worth $1,903,425 in the last quarter. Insiders own 4.20% of the company’s stock.

Several large investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in shares of Zagg in the third quarter worth $741,000. Algert Global LLC bought a new stake in shares of Zagg in the third quarter worth $1,711,000. Cubist Systematic Strategies LLC bought a new stake in shares of Zagg in the third quarter worth $523,000. Granahan Investment Management Inc. MA bought a new stake in Zagg during the third quarter valued at $2,537,000. Finally, Jane Street Group LLC bought a new stake in Zagg during the third quarter valued at $359,000. Institutional investors and hedge funds 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.

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