Zagg Inc. (NASDAQ:ZAGG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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, Roth Capital raised their price objective on shares of Zagg from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, July 14th.

Zagg (NASDAQ:ZAGG) opened at 7.70 on Thursday. Zagg has a 1-year low of $4.71 and a 1-year high of $12.74. The firm has a 50-day moving average of $7.67 and a 200-day moving average of $6.91. The stock has a market capitalization of $216.55 million, a PE ratio of 49.36 and a beta of 1.69.

Zagg (NASDAQ:ZAGG) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14. The company had revenue of $99.80 million for the quarter, compared to the consensus estimate of $93.07 million. Zagg had a net margin of 1.42% and a return on equity of 8.43%. The firm’s revenue was up 49.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 earnings per share. Equities analysts expect that Zagg will post $0.45 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Wesbanco Bank Inc. acquired a new position in Zagg during the second quarter worth about $121,000. KCG Holdings Inc. increased its position in Zagg by 6.8% in the second quarter. KCG Holdings Inc. now owns 26,546 shares of the company’s stock worth $139,000 after buying an additional 1,685 shares during the last quarter. Strs Ohio increased its position in Zagg by 8.2% in the second quarter. Strs Ohio now owns 27,700 shares of the company’s stock worth $145,000 after buying an additional 2,100 shares during the last quarter. Rhumbline Advisers increased its position in Zagg by 11.1% in the second quarter. Rhumbline Advisers now owns 30,540 shares of the company’s stock worth $160,000 after buying an additional 3,060 shares during the last quarter. Finally, BlackRock Inc. increased its position in Zagg by 1,610.5% in the second quarter. BlackRock Inc. now owns 30,600 shares of the company’s stock worth $161,000 after buying an additional 28,811 shares during the last quarter. 77.75% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NASDAQ:ZAGG

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