Zagg (NASDAQ:ZAGG) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Zagg (NASDAQ:ZAGG) from a hold rating to a sell rating in a research report sent to investors on Friday 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. “

ZAGG has been the subject of several other reports. BidaskClub downgraded shares of Zagg from a sell rating to a strong sell rating in a research note on Tuesday, April 16th. Craig Hallum lowered their price objective on shares of Zagg from $17.50 to $12.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $13.00.

Shares of ZAGG stock opened at $5.51 on Friday. The stock has a market capitalization of $166.53 million, a price-to-earnings ratio of 3.83, a price-to-earnings-growth ratio of 0.67 and a beta of 1.43. The company’s 50 day simple moving average is $6.74. The company has a current ratio of 1.86, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70. Zagg has a 52-week low of $5.26 and a 52-week high of $16.70.

Zagg (NASDAQ:ZAGG) last issued its quarterly earnings data on Tuesday, August 6th. The specialty retailer reported ($0.09) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). Zagg had a net margin of 1.86% and a return on equity of 9.82%. The company had revenue of $106.80 million for the quarter, compared to analyst estimates of $105.41 million. During the same period last year, the company posted $0.11 earnings per share. Zagg’s revenue was down 9.9% compared to the same quarter last year. On average, analysts anticipate that Zagg will post 0.85 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its position in shares of Zagg by 3.9% in the 2nd quarter. First Trust Advisors LP now owns 52,721 shares of the specialty retailer’s stock valued at $367,000 after purchasing an additional 1,968 shares during the last quarter. Teton Advisors Inc. increased its holdings in Zagg by 2.3% during the 2nd quarter. Teton Advisors Inc. now owns 90,630 shares of the specialty retailer’s stock valued at $631,000 after acquiring an additional 2,030 shares in the last quarter. Cadence Capital Management LLC increased its holdings in Zagg by 1.8% during the 1st quarter. Cadence Capital Management LLC now owns 210,046 shares of the specialty retailer’s stock valued at $1,905,000 after acquiring an additional 3,707 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Zagg by 34.5% during the 1st quarter. Victory Capital Management Inc. now owns 18,800 shares of the specialty retailer’s stock valued at $171,000 after acquiring an additional 4,819 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Zagg by 9,137.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,635 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 5,574 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Zagg Company Profile

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.

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