Zagg (ZAGG) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Zagg (NASDAQ:ZAGG) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $18.00 price target on the specialty retailer’s stock.
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. “
A number of other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of Zagg from a buy rating to a strong-buy rating in a research note on Monday, February 5th. B. Riley set a $20.00 price target on shares of Zagg and gave the company a buy rating in a research note on Wednesday, January 17th. BidaskClub downgraded shares of Zagg from a buy rating to a hold rating in a research note on Tuesday, January 16th. Craig Hallum set a $24.00 price target on shares of Zagg and gave the company a buy rating in a research note on Wednesday, January 3rd. Finally, Northland Securities reissued a buy rating and issued a $23.00 price target on shares of Zagg in a research note on Friday, December 1st. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Zagg presently has an average rating of Buy and a consensus target price of $18.67.
Several hedge funds have recently made changes to their positions in ZAGG. EAM Investors LLC acquired a new position in shares of Zagg in the third quarter valued at approximately $6,040,000. Renaissance Technologies LLC grew its holdings in shares of Zagg by 345.6% in the fourth quarter. Renaissance Technologies LLC now owns 492,390 shares of the specialty retailer’s stock valued at $9,085,000 after purchasing an additional 381,890 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Zagg by 1,068.2% in the third quarter. Ameriprise Financial Inc. now owns 374,657 shares of the specialty retailer’s stock valued at $5,900,000 after purchasing an additional 342,585 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Zagg by 472.9% in the fourth quarter. Acadian Asset Management LLC now owns 219,968 shares of the specialty retailer’s stock valued at $4,059,000 after purchasing an additional 181,571 shares in the last quarter. Finally, Bogle Investment Management L P DE grew its holdings in shares of Zagg by 41.7% in the fourth quarter. Bogle Investment Management L P DE now owns 591,683 shares of the specialty retailer’s stock valued at $10,916,000 after purchasing an additional 174,230 shares in the last quarter. Hedge funds and other institutional investors own 82.32% of the company’s stock.
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Zagg Company Profile
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.
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