Zagg’s (ZAGG) Buy Rating Reaffirmed at Northland Securities

Northland Securities reissued their buy rating on shares of Zagg (NASDAQ:ZAGG) in a research note released on Friday morning. The firm currently has a $23.00 price objective on the specialty retailer’s stock.

ZAGG has been the topic of several other reports. BidaskClub upgraded shares of Zagg from a buy rating to a strong-buy rating in a research report on Saturday, August 5th. Craig Hallum restated a buy rating and set a $23.00 target price (up previously from $16.00) on shares of Zagg in a research report on Thursday, October 19th. Zacks Investment Research lowered shares of Zagg from a strong-buy rating to a hold rating in a research report on Thursday, October 12th. B. Riley set a $17.00 target price on shares of Zagg and gave the stock a hold rating in a research report on Monday, October 30th. Finally, Roth Capital set a $17.00 target price on shares of Zagg and gave the stock a hold rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $18.83.

Zagg (NASDAQ ZAGG) traded down $0.30 during mid-day trading on Friday, hitting $20.15. 806,700 shares of the stock traded hands, compared to its average volume of 458,776. The firm has a market capitalization of $563.70, a price-to-earnings ratio of 77.50, a PEG ratio of 4.02 and a beta of 0.93. Zagg has a twelve month low of $5.90 and a twelve month 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.

Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $134.40 million for the quarter, compared to analyst estimates of $128.23 million. Zagg had a net margin of 0.63% and a return on equity of 6.59%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 earnings per share. sell-side analysts expect that Zagg will post 1 EPS for the current year.

In other Zagg news, CEO Randall L. Hales sold 19,829 shares of Zagg stock in a transaction on Monday, November 13th. The shares were sold at an average price of $19.85, for a total value of $393,605.65. Following the transaction, the chief executive officer now owns 713,380 shares in the company, valued at approximately $14,160,593. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian Stech sold 20,000 shares of Zagg stock in a transaction on Monday, November 6th. The shares were sold at an average price of $18.08, for a total transaction of $361,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,830 shares of company stock worth $1,903,425. 4.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ZAGG. Gotham Asset Management LLC acquired a new position in shares of Zagg in the 2nd quarter valued at $100,000. American International Group Inc. boosted its holdings in shares of Zagg by 7.0% in the 1st quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock valued at $122,000 after purchasing an additional 1,117 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Zagg by 18.2% in 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 during the last quarter. Alliancebernstein L.P. acquired a new position in shares of Zagg in the 2nd quarter valued at $169,000. Finally, Martingale Asset Management L P acquired a new position in shares of Zagg in the 2nd quarter valued at $213,000. Institutional investors own 82.75% of the company’s stock.

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Zagg Company Profile

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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