Roth Capital Reiterates “$17.00” Price Target for ZAGG Inc (NASDAQ:ZAGG)

ZAGG Inc (NASDAQ:ZAGG) received a $17.00 target price from equities researchers at Roth Capital in a note issued to investors on Tuesday, October 17th. The brokerage currently has a “hold” rating on the specialty retailer’s stock. Roth Capital’s price target points to a potential upside of 4.29% from the company’s current price.

A number of other research analysts have also commented on the company. Zacks Investment Research raised ZAGG from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Wednesday, July 19th. Northland Securities raised their target price on ZAGG from $12.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. Finally, BidaskClub raised ZAGG from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. ZAGG presently has a consensus rating of “Buy” and a consensus price target of $17.20.

Shares of ZAGG (NASDAQ ZAGG) opened at 16.30 on Tuesday. ZAGG has a one year low of $5.15 and a one year high of $18.20. The company has a 50-day moving average of $15.07 and a 200 day moving average of $10.43. The firm’s market cap is $455.81 million.

ZAGG (NASDAQ:ZAGG) last issued its quarterly earnings data on Tuesday, August 1st. The specialty retailer reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. The business had revenue of $115.20 million for the quarter, compared to analyst estimates of $107.81 million. ZAGG had a positive return on equity of 5.34% and a negative net margin of 3.12%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 EPS. On average, equities research analysts expect that ZAGG will post $0.87 EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in ZAGG. Wells Fargo & Company MN grew its holdings in shares of ZAGG by 0.4% during the 1st quarter. Wells Fargo & Company MN now owns 28,525 shares of the specialty retailer’s stock worth $205,000 after purchasing an additional 100 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of ZAGG by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 220,871 shares of the specialty retailer’s stock worth $1,591,000 after purchasing an additional 3,106 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of ZAGG by 0.4% during the 1st quarter. JPMorgan Chase & Co. now owns 24,142 shares of the specialty retailer’s stock worth $174,000 after purchasing an additional 91 shares in the last quarter. American International Group Inc. grew its holdings in shares of ZAGG by 7.0% during the 1st quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock worth $122,000 after purchasing an additional 1,117 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in shares of ZAGG by 11.6% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 84,700 shares of the specialty retailer’s stock worth $609,000 after purchasing an additional 8,800 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

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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