ZAGG Inc (ZAGG - Free Report) is a Zacks Rank #1 (Strong Buy) and carries a growth style score of “A” which automatically puts it on my radar screen. Following the recent beat the stock rallied over $10 and now that it is the Bull of the Day, it is on your radar screen!
I run Stocks Under $10 for Zacks and I used to have a position in this stock. It was about two years ago that I added the stock at $7.92 on July 28, 2015. The position was sold on 12/29/15 for $11.40 -- the subscribers that followed that trade took home just short of 44%.
ZAGG Inc, makes mobile tech accessories for smartphones and tablets. The company operates through ZAGG and mophie segments. It 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; earbuds, headphones, Bluetooth speakers, and cables under the ZAGG, InvisibleShield, IFROGZ, and mophie brands. ZAGG Inc is headquartered in Midvale, Utah.
The company reported a solid quarter at the start of the month. The company beat the top and bottom line expectations and the stock moved higher by 4.7% as a result. Revenues were $115M, $5M ahead of the expectation while EPS of $0.12 were $0.02 better than expected.
Estimates Move Higher
Back in February of this year, the Zacks Consensus Estimate was $0.53. A few beats later the number has shot higher to $0.82. That is the 2017 number and most investors are looking ahead to the 2018 number.
The 2018 number started out at $1.00 in May, that kicked higher to $1.10 in July. In early August following the most recent beat, the number has moved higher to $1.13.
This is the primary reason the stock is a Zacks Rank #1 (Strong Buy)
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