BidaskClub Downgrades Zagg (ZAGG) to Sell

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Zagg (NASDAQ:ZAGG) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Several other brokerages have also recently weighed in on ZAGG. ValuEngine upgraded Zagg from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 5th. Zacks Investment Research cut Zagg from a “buy” rating to a “hold” rating in a report on Saturday, February 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $17.00.

Shares of ZAGG stock opened at $9.91 on Friday. Zagg has a twelve month low of $7.96 and a twelve month high of $19.40. The firm has a market capitalization of $275.43 million, a price-to-earnings ratio of 6.88, a PEG ratio of 0.95 and a beta of 1.54. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.76 and a quick ratio of 1.13.

Zagg (NASDAQ:ZAGG) last issued its earnings results on Tuesday, March 12th. The specialty retailer reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. Zagg had a return on equity of 28.63% and a net margin of 7.28%. The business had revenue of $166.51 million during the quarter, compared to analysts’ expectations of $163.31 million. As a group, equities analysts forecast that Zagg will post 1.52 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ZAGG. Metropolitan Life Insurance Co. NY lifted its stake in shares of Zagg by 378.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,629 shares of the specialty retailer’s stock worth $94,000 after purchasing an additional 7,615 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Zagg by 13.4% during the 4th quarter. Prudential Financial Inc. now owns 11,435 shares of the specialty retailer’s stock worth $112,000 after purchasing an additional 1,355 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Zagg during the 3rd quarter worth $126,000. Alambic Investment Management L.P. purchased a new stake in shares of Zagg during the 4th quarter worth $156,000. Finally, Hancock Whitney Corp purchased a new stake in shares of Zagg during the 4th quarter worth $166,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

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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