Zagg Inc. (NASDAQ:ZAGG) has been given a $6.00 price objective by stock analysts at Roth Capital in a research report issued on Wednesday. The firm presently has a “hold” rating on the stock. Roth Capital’s price target suggests a potential downside of 16.08% from the stock’s previous close.
A number of other equities research analysts have also issued reports on the stock. Wunderlich dropped their price objective on shares of Zagg from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, November 2nd. Zacks Investment Research raised shares of Zagg from a “sell” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Thursday, October 20th.
Zagg (NASDAQ:ZAGG) traded up 0.70% during midday trading on Wednesday, hitting $7.15. 126,261 shares of the stock traded hands. The company’s 50-day moving average is $7.02 and its 200 day moving average is $6.63. Zagg has a 12-month low of $4.71 and a 12-month high of $12.74. The firm’s market cap is $201.14 million.
Zagg (NASDAQ:ZAGG) last issued its earnings results on Tuesday, November 1st. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.15. The business earned $124.70 million during the quarter. Zagg had a negative net margin of 1.77% and a positive return on equity of 12.02%. Zagg’s quarterly revenue was up 86.7% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. On average, analysts anticipate that Zagg will post ($0.17) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors Inc. raised its position in shares of Zagg by 122.6% in the third quarter. Wasatch Advisors Inc. now owns 1,462,658 shares of the company’s stock valued at $11,848,000 after buying an additional 805,692 shares during the period. Royal Bank of Canada raised its position in shares of Zagg by 19.2% in the second quarter. Royal Bank of Canada now owns 3,928,216 shares of the company’s stock valued at $20,623,000 after buying an additional 631,478 shares during the period. Tieton Capital Management LLC raised its position in shares of Zagg by 59.8% in the second quarter. Tieton Capital Management LLC now owns 1,099,517 shares of the company’s stock valued at $5,772,000 after buying an additional 411,437 shares during the period. Seizert Capital Partners LLC raised its position in shares of Zagg by 314.3% in the third quarter. Seizert Capital Partners LLC now owns 529,536 shares of the company’s stock valued at $4,289,000 after buying an additional 401,719 shares during the period. Finally, Penn Capital Management Co. Inc. bought a new position in shares of Zagg during the third quarter valued at $2,975,000. 83.00% of the stock is owned by institutional investors.