Zagg (NASDAQ:ZAGG) Upgraded at Zacks Investment Research

Zagg (NASDAQ:ZAGG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday, 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. “

Separately, ValuEngine upgraded shares of Zagg from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

Shares of NASDAQ ZAGG traded down $0.04 on Friday, reaching $7.67. 350,701 shares of the company’s stock traded hands, compared to its average volume of 424,528. Zagg has a 12 month low of $5.26 and a 12 month high of $12.43. The business’s 50 day simple moving average is $7.87 and its two-hundred day simple moving average is $6.98. The company has a market cap of $224.26 million, a price-to-earnings ratio of 5.33, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The company has a quick ratio of 0.94, a current ratio of 1.77 and a debt-to-equity ratio of 0.76.

Zagg (NASDAQ:ZAGG) last announced its earnings results on Wednesday, November 6th. The specialty retailer reported $0.42 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.42. Zagg had a net margin of 0.65% and a return on equity of 8.20%. The business had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.06 million. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts forecast that Zagg will post 0.8 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Divergent Wealth Advisors LLC grew its holdings in shares of Zagg by 66.0% during the fourth quarter. Divergent Wealth Advisors LLC now owns 41,696 shares of the specialty retailer’s stock valued at $338,000 after buying an additional 16,577 shares during the last quarter. K2 Principal Fund L.P. purchased a new stake in shares of Zagg during the third quarter valued at approximately $314,000. Ancora Advisors LLC grew its holdings in shares of Zagg by 53.9% during the third quarter. Ancora Advisors LLC now owns 170,343 shares of the specialty retailer’s stock valued at $1,068,000 after buying an additional 59,655 shares during the last quarter. State Street Corp grew its holdings in shares of Zagg by 0.3% during the third quarter. State Street Corp now owns 484,777 shares of the specialty retailer’s stock valued at $3,040,000 after buying an additional 1,619 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of Zagg during the third quarter valued at approximately $2,530,000. Hedge funds and other institutional investors own 88.31% 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.

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