Zagg (ZAGG) Rating Increased to Buy at Zacks Investment Research

Zagg (NASDAQ:ZAGG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $18.00 target price on the specialty retailer’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.11% from the stock’s previous close.

According to Zacks, “ZAGG Inc. designs, manufactures and distributes protective clear coverings and accessories for consumer electronic and hand-held devices, worldwide. ZAGG’s flagship brand, the invisibleSHIELD, is a protective, high-tech patented film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices and other items. The patent-pending invisibleSHIELD application is the first scratch protection solution of its kind on the market, and has sold over one million units. Currently, ZAGG offers over 2,500 precision pre-cut designs with a lifetime replacement warranty through online channels, resellers, college bookstores, Mac stores and mall kiosks. The company continues to increase its product lines to offer additional electronic accessories to its tech-savvy customer base, as well as an expanded array of invisibleSHIELD products for other industries. “

Other equities research analysts have also issued reports about the stock. Northland Securities reissued a “buy” rating and issued a $23.00 target price on shares of Zagg in a report on Friday, December 1st. Craig Hallum set a $24.00 target price on shares of Zagg and gave the stock a “buy” rating in a report on Wednesday, January 3rd. TheStreet raised shares of Zagg from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. ValuEngine raised shares of Zagg from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, B. Riley set a $17.00 target price on shares of Zagg and gave the stock a “hold” rating in a report on Monday, October 30th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $18.67.

Zagg (ZAGG) opened at $16.20 on Tuesday. Zagg has a one year low of $5.90 and a one year high of $23.70. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 0.07. The firm has a market cap of $453.20, a P/E ratio of 162.00, a PEG ratio of 2.31 and a beta of 0.88.

A number of institutional investors have recently added to or reduced their stakes in ZAGG. Gotham Asset Management LLC purchased a new stake in Zagg in the 2nd quarter worth approximately $100,000. SG Americas Securities LLC purchased a new stake in Zagg during the 4th quarter valued at approximately $108,000. Financial Gravity Companies Inc. purchased a new stake in Zagg during the 4th quarter valued at approximately $119,000. Voya Investment Management LLC grew its holdings in Zagg by 18.2% during the 2nd quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock valued at $153,000 after buying an additional 2,730 shares in the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in Zagg during the 2nd quarter valued at approximately $169,000. 82.32% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Zagg (NASDAQ:ZAGG)

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