Zagg (ZAGG) Stock Rating Lowered by TheStreet
Zagg (NASDAQ:ZAGG) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a report issued on Monday.
Several other brokerages have also commented on ZAGG. BidaskClub raised shares of Zagg from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. ValuEngine lowered shares of Zagg from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, B. Riley increased their price objective on shares of Zagg from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.50.
ZAGG stock opened at $10.82 on Monday. The stock has a market cap of $297.94 million, a price-to-earnings ratio of 6.83, a PEG ratio of 1.13 and a beta of 1.66. Zagg has a one year low of $10.52 and a one year high of $23.70. The company has a quick ratio of 1.13, a current ratio of 1.76 and a debt-to-equity ratio of 0.19.
In related news, President Brian Stech sold 10,000 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the transaction, the president now directly owns 198,864 shares of the company’s stock, valued at approximately $2,917,334.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in Zagg by 11.5% during the 3rd quarter. BlackRock Inc. now owns 2,548,418 shares of the specialty retailer’s stock worth $37,590,000 after buying an additional 263,141 shares during the last quarter. Wasatch Advisors Inc. raised its position in Zagg by 8.2% during the 3rd quarter. Wasatch Advisors Inc. now owns 1,584,698 shares of the specialty retailer’s stock worth $23,374,000 after buying an additional 120,541 shares during the last quarter. Baird Financial Group Inc. raised its position in Zagg by 3.2% during the 3rd quarter. Baird Financial Group Inc. now owns 623,065 shares of the specialty retailer’s stock worth $9,066,000 after buying an additional 19,494 shares during the last quarter. Tieton Capital Management LLC raised its position in Zagg by 34.1% during the 2nd quarter. Tieton Capital Management LLC now owns 453,667 shares of the specialty retailer’s stock worth $7,848,000 after buying an additional 115,260 shares during the last quarter. Finally, Northern Trust Corp raised its position in Zagg by 8.2% during the 2nd quarter. Northern Trust Corp now owns 406,625 shares of the specialty retailer’s stock worth $7,034,000 after buying an additional 30,715 shares during the last quarter. 86.09% of the stock is owned by institutional investors.
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. It operates in ZAGG and mophie segments. The company offers screen protection products; battery cases and power management products for tablets, smartphones, MP3 players, cameras, and other electronic mobile devices; device specific keyboards and device agnostic keyboards; and earbuds, headphones, wireless charging products, Bluetooth speakers, and cables under the ZAGG, InvisibleShield, IFROGZ, and mophie brands.
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