Zebra Technologies (NASDAQ:ZBRA) Sets New 1-Year High After Better-Than-Expected Earnings

Zebra Technologies Co. (NASDAQ:ZBRA) hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $322.95 and last traded at $316.46, with a volume of 154280 shares trading hands. The stock had previously closed at $300.01.

The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.70. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zebra Technologies had a return on equity of 15.30% and a net margin of 6.46%. Zebra Technologies’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.59 earnings per share.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ZBRA. Truist Financial started coverage on Zebra Technologies in a research note on Thursday, March 14th. They set a “hold” rating and a $300.00 price target on the stock. Barclays began coverage on shares of Zebra Technologies in a research note on Tuesday, April 2nd. They set an “equal weight” rating and a $292.00 price target for the company. StockNews.com lowered Zebra Technologies from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Finally, Wolfe Research upgraded Zebra Technologies from a “peer perform” rating to an “outperform” rating and set a $337.00 price target on the stock in a research report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $278.64.

Insider Transactions at Zebra Technologies

In related news, CAO Colleen M. O’sullivan sold 135 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $279.36, for a total transaction of $37,713.60. Following the completion of the transaction, the chief accounting officer now owns 5,543 shares in the company, valued at $1,548,492.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On Zebra Technologies

Several institutional investors and hedge funds have recently bought and sold shares of ZBRA. Allspring Global Investments Holdings LLC grew its stake in shares of Zebra Technologies by 8.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 75,368 shares of the industrial products company’s stock worth $22,719,000 after acquiring an additional 5,885 shares during the period. Commonwealth Equity Services LLC boosted its position in Zebra Technologies by 30.3% during the first quarter. Commonwealth Equity Services LLC now owns 8,891 shares of the industrial products company’s stock worth $2,680,000 after purchasing an additional 2,069 shares during the period. Mcdaniel Terry & Co. increased its stake in shares of Zebra Technologies by 3.7% in the first quarter. Mcdaniel Terry & Co. now owns 42,374 shares of the industrial products company’s stock worth $12,773,000 after purchasing an additional 1,522 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Zebra Technologies by 0.8% in the first quarter. Principal Financial Group Inc. now owns 77,164 shares of the industrial products company’s stock valued at $23,260,000 after purchasing an additional 645 shares during the period. Finally, SlateStone Wealth LLC lifted its stake in shares of Zebra Technologies by 6.5% during the 1st quarter. SlateStone Wealth LLC now owns 6,428 shares of the industrial products company’s stock valued at $1,938,000 after buying an additional 395 shares in the last quarter. 91.03% of the stock is owned by institutional investors.

Zebra Technologies Stock Up 5.9 %

The company has a market capitalization of $16.32 billion, a PE ratio of 55.62 and a beta of 1.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.54 and a current ratio of 1.05. The stock’s 50 day moving average is $286.87 and its 200 day moving average is $255.96.

Zebra Technologies Company Profile

Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.