ZAGG Given New $12.50 Price Target at Northland Capital
Posted by Alphonse Anthony on Feb 27th, 2013
Equities research analysts at Northland Capital lowered their price target on shares of ZAGG (NASDAQ: ZAGG) from $18.00 to $12.50 in a research note issued to investors on Wednesday.
A number of other analysts have also recently weighed in on ZAGG. Analysts at Zacks downgraded shares of ZAGG from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, February 12th. They now have a $8.40 price target on the stock.
Four analysts have rated the stock with a buy rating, and one has issued a hold rating to the company. ZAGG has a consensus rating of “buy” and an average price target of $14.50.
ZAGG traded down 0.53% on Wednesday, hitting $7.44. ZAGG has a 1-year low of $6.48 and a 1-year high of $13.29. The stock’s 50-day moving average is currently $7.33. The company has a market cap of $227.8 million and a price-to-earnings ratio of 9.70.
Let me get this straight. These analysts downgraded Zagg after they beat on revs and guided higher for 2013???? Guess we know who is short now, eh? I listen to the end of the call when an analyst asked if the guidance would be easy to hit and raised possibly and the CEO stated that they always give guidance that they were very comfortable with and this was no exception. I read that as expect a raise of guidance sometime this year as a matter of course. Where would anyone come off lowering price targets of a stock that is trading at a 6.5 forward P/E and higher EPS estimates??????
The shorts are starting to come out of the closets I see. This should be at $14 minimum right now.