Zagg (NASDAQ:ZAGG) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Zagg (NASDAQ:ZAGG) from a sell rating to a hold rating in a report published on Thursday morning, Zacks.com reports.

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. “

Several other research firms have also recently weighed in on ZAGG. TheStreet cut shares of Zagg from a c- rating to a d rating in a report on Tuesday, June 9th. ValuEngine cut shares of Zagg from a hold rating to a sell rating in a report on Thursday, April 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $10.50.

Zagg stock opened at $2.85 on Thursday. The stock has a market capitalization of $80.80 million, a PE ratio of -1.82 and a beta of 1.58. Zagg has a twelve month low of $2.06 and a twelve month high of $9.01. The company has a quick ratio of 1.01, a current ratio of 1.92 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average of $3.02 and a 200-day moving average of $4.43.

Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Thursday, May 28th. The specialty retailer reported ($1.91) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($1.59). The company had revenue of $90.98 million during the quarter. Zagg had a negative net margin of 8.84% and a positive return on equity of 9.56%. Equities analysts anticipate that Zagg will post -3.34 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Zagg by 0.9% during the first quarter. BlackRock Inc. now owns 2,421,855 shares of the specialty retailer’s stock worth $7,531,000 after purchasing an additional 21,785 shares during the last quarter. Man Group plc acquired a new position in Zagg during the fourth quarter worth $137,000. Baird Financial Group Inc. boosted its holdings in Zagg by 1.0% during the first quarter. Baird Financial Group Inc. now owns 562,892 shares of the specialty retailer’s stock worth $1,751,000 after purchasing an additional 5,791 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Zagg by 7.0% during the first quarter. Geode Capital Management LLC now owns 410,002 shares of the specialty retailer’s stock worth $1,275,000 after purchasing an additional 26,972 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Zagg during the first quarter worth $136,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

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. The company offers screen protection products; protective cases to protect device-specific mobile devices and tablets; power management products for tablets, smartphones, smartwatches, cameras, and other electronic mobile devices; power stations, wireless chargers, car and wall chargers, portable power products, and power wallets; earbuds, headphones, and speakers; and device specific keyboards and device agnostic keyboards under the ZAGG, InvisibleShield, mophie, IFROGZ, BRAVEN, Gear4, and HALO brands.

See Also: What is an inverted yield curve?

Get a free copy of the Zacks research report on Zagg (ZAGG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Zagg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zagg and related companies with MarketBeat.com's FREE daily email newsletter.