B. Riley Trims Zagg (ZAGG) Target Price to $15.00

Zagg (NASDAQ:ZAGG) had its price target trimmed by B. Riley from $17.00 to $15.00 in a research note released on Wednesday, Marketbeat reports. The brokerage currently has a neutral rating on the specialty retailer’s stock. B. Riley also issued estimates for Zagg’s Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.32 EPS and FY2019 earnings at $1.35 EPS.

ZAGG has been the subject of a number of other reports. ValuEngine cut Zagg from a buy rating to a hold rating in a research note on Wednesday, July 25th. BidaskClub raised Zagg from a hold rating to a buy rating in a research note on Saturday, August 25th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $19.50.

Shares of ZAGG stock traded down $0.18 on Wednesday, reaching $11.46. The company had a trading volume of 348,390 shares, compared to its average volume of 352,985. 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 stock has a market cap of $320.73 million, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.12 and a beta of 1.66. Zagg has a 12 month low of $10.60 and a 12 month high of $23.70.

Zagg (NASDAQ:ZAGG) last announced its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. The company had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $149.13 million. Zagg had a return on equity of 33.12% and a net margin of 6.00%. Zagg’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. As a group, research analysts anticipate that Zagg will post 1.35 earnings per share for the current year.

In related news, President Brian Stech sold 10,000 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the sale, the president now directly owns 198,864 shares of the company’s stock, valued at approximately $2,917,334.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ZAGG. Northern Trust Corp grew its stake in shares of Zagg by 1.6% during the 1st quarter. Northern Trust Corp now owns 375,910 shares of the specialty retailer’s stock worth $4,586,000 after acquiring an additional 5,830 shares in the last quarter. BlackRock Inc. grew its stake in shares of Zagg by 0.7% during the 1st quarter. BlackRock Inc. now owns 1,825,475 shares of the specialty retailer’s stock worth $22,270,000 after acquiring an additional 13,177 shares in the last quarter. Guggenheim Capital LLC bought a new position in shares of Zagg during the 1st quarter worth approximately $180,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Zagg during the 2nd quarter worth approximately $233,000. Finally, Bank of Montreal Can bought a new position in shares of Zagg during the 2nd quarter worth approximately $242,000. 84.53% of the stock is owned by institutional investors and hedge funds.

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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