Zagg (ZAGG) Raised 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 report released on Tuesday, February 13th. The brokerage presently has a $18.00 price target on the specialty retailer’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.92% from the company’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. “

ZAGG has been the subject of several other reports. Northland Securities reissued a “buy” rating and issued a $23.00 price objective on shares of Zagg in a research report on Friday, December 1st. Craig Hallum restated a “buy” rating and issued a $23.00 target price (up from $16.00) on shares of Zagg in a research note on Thursday, October 19th. Roth Capital set a $17.00 price target on Zagg and gave the company a “hold” rating in a research note on Tuesday, October 17th. TheStreet upgraded Zagg from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. Finally, B. Riley upgraded Zagg from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $20.00 in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Zagg presently has a consensus rating of “Buy” and an average price target of $18.67.

Shares of Zagg (ZAGG) traded down $0.30 during trading hours on Tuesday, reaching $15.80. The company had a trading volume of 308,600 shares, compared to its average volume of 610,265. Zagg has a twelve month low of $5.90 and a twelve month high of $23.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 1.12. The company has a market cap of $450.40, a price-to-earnings ratio of 175.56, a P/E/G ratio of 2.37 and a beta of 0.88.

Large investors have recently bought and sold shares of the stock. 1st Global Advisors Inc. raised its holdings in Zagg by 1.6% during the 2nd quarter. 1st Global Advisors Inc. now owns 27,912 shares of the specialty retailer’s stock valued at $241,000 after acquiring an additional 448 shares during the period. Parametric Portfolio Associates LLC raised its holdings in Zagg by 1.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 44,638 shares of the specialty retailer’s stock valued at $386,000 after acquiring an additional 604 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Zagg by 2.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 93,133 shares of the specialty retailer’s stock valued at $806,000 after acquiring an additional 2,261 shares during the period. Teachers Advisors LLC grew its position in shares of Zagg by 5.0% during the 2nd quarter. Teachers Advisors LLC now owns 50,494 shares of the specialty retailer’s stock valued at $437,000 after purchasing an additional 2,401 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in shares of 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 purchasing an additional 2,730 shares in the last quarter. 77.35% of the stock is currently 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.

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