Zacks: Analysts Anticipate Zagg Inc (ZAGG) Will Post Quarterly Sales of $163.31 Million

Equities analysts expect Zagg Inc (NASDAQ:ZAGG) to post sales of $163.31 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Zagg’s earnings, with estimates ranging from $163.09 million to $163.55 million. Zagg reported sales of $176.92 million in the same quarter last year, which would suggest a negative year over year growth rate of 7.7%. The company is scheduled to report its next earnings report on Wednesday, March 6th.

According to Zacks, analysts expect that Zagg will report full year sales of $535.03 million for the current year, with estimates ranging from $534.81 million to $535.27 million. For the next year, analysts expect that the business will post sales of $570.31 million, with estimates ranging from $552.12 million to $593.84 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Zagg.

Zagg (NASDAQ:ZAGG) last issued its earnings results on Tuesday, November 6th. The specialty retailer reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.09. The business had revenue of $141.10 million for the quarter, compared to analyst estimates of $149.13 million. Zagg had a net margin of 6.00% and a return on equity of 32.36%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share.

A number of brokerages have recently commented on ZAGG. TheStreet lowered shares of Zagg from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. BidaskClub lowered shares of Zagg from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 10th. B. Riley reduced their target price on shares of Zagg from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 7th. Finally, ValuEngine lowered shares of Zagg from a “sell” rating to a “strong sell” rating in a research report on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Zagg presently has an average rating of “Hold” and a consensus target price of $19.50.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC boosted its stake in shares of Zagg by 53.9% during the third quarter. MetLife Investment Advisors LLC now owns 21,733 shares of the specialty retailer’s stock valued at $321,000 after purchasing an additional 7,615 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Zagg during the third quarter valued at approximately $232,000. Tower Research Capital LLC TRC bought a new position in shares of Zagg during the third quarter valued at approximately $181,000. Clark Estates Inc. NY boosted its stake in shares of Zagg by 59.6% during the third quarter. Clark Estates Inc. NY now owns 225,500 shares of the specialty retailer’s stock valued at $3,326,000 after purchasing an additional 84,193 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Zagg by 32.5% during the third quarter. Allianz Asset Management GmbH now owns 110,079 shares of the specialty retailer’s stock valued at $1,623,000 after purchasing an additional 27,018 shares in the last quarter. Hedge funds and other institutional investors own 86.88% of the company’s stock.

Shares of NASDAQ:ZAGG opened at $10.64 on Friday. The company has a market cap of $290.72 million, a PE ratio of 10.97, a P/E/G ratio of 1.10 and a beta of 1.66. Zagg has a one year low of $9.61 and a one year high of $23.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.76.

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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