ValuEngine Lowers Zagg (ZAGG) to Sell

ValuEngine downgraded shares of Zagg (NASDAQ:ZAGG) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

A number of other research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Zagg from a buy rating to a hold rating in a report on Thursday, September 6th. B. Riley raised their price target on shares of Zagg from $16.00 to $17.00 and gave the company a hold rating in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $19.43.

ZAGG stock opened at $14.35 on Monday. Zagg has a 12-month low of $10.90 and a 12-month high of $23.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 1.02. The company has a market capitalization of $440.69 million, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.50 and a beta of 1.45.

Zagg (NASDAQ:ZAGG) last released its earnings results on Tuesday, July 31st. The specialty retailer reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Zagg had a return on equity of 30.17% and a net margin of 5.18%. The company had revenue of $118.57 million during the quarter, compared to analysts’ expectations of $116.44 million. research analysts expect that Zagg will post 1.39 earnings per share for the current fiscal year.

In other news, President Brian Stech sold 10,000 shares of the firm’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $17.09, for a total transaction of $170,900.00. Following the transaction, the president now owns 208,864 shares in the company, valued at approximately $3,569,485.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in ZAGG. BlackRock Inc. raised its holdings in shares of Zagg by 25.2% during the 2nd quarter. BlackRock Inc. now owns 2,285,277 shares of the specialty retailer’s stock valued at $39,535,000 after purchasing an additional 459,802 shares in the last quarter. Hsbc Holdings PLC grew its stake in Zagg by 862.7% in the 1st quarter. Hsbc Holdings PLC now owns 435,663 shares of the specialty retailer’s stock valued at $5,315,000 after buying an additional 390,407 shares during the last quarter. Landscape Capital Management L.L.C. grew its stake in Zagg by 523.6% in the 1st quarter. Landscape Capital Management L.L.C. now owns 405,456 shares of the specialty retailer’s stock valued at $4,947,000 after buying an additional 340,434 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Zagg in the 2nd quarter valued at $4,582,000. Finally, GSA Capital Partners LLP acquired a new position in Zagg in the 1st quarter valued at $2,688,000. Institutional investors and hedge funds own 85.69% of the company’s stock.

About 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. It operates in ZAGG and mophie segments. The company offers screen protection products; battery cases and power management products for tablets, smartphones, MP3 players, cameras, and other electronic mobile devices; device specific keyboards and device agnostic keyboards; and earbuds, headphones, wireless charging products, Bluetooth speakers, and cables under the ZAGG, InvisibleShield, IFROGZ, and mophie brands.

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Analyst Recommendations for Zagg (NASDAQ:ZAGG)

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