Zagg Inc (ZAGG - Free Report) is a Zacks Rank #1 Strong Buy) and has an "A" for its growth style score. This helps the stock land on my radar, but to be honest, it has been on my screen for a long time now. About three months ago, I profiled ZAGG here and the stock is up about 103% since.
Previous Bull / Trade
In my previous Bull of the Day on ZAGG, i noted that the stock was in my investor service Stocks Under $10 as we bought it looking to capitalize on ever increasing iPhone sales. Seems the story that worked then has worked again, but only to a higher degree.
You can read the previous Bull of the Day on this link.
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 extended its beat streak to 3 in early November, as EPS topped the Zacks Consensus Estimate by 2 cents.
Included in the release was an increase of guidance, as the company now forecasts sales to be $500M to $520M, up from the previous guidance of $470M-$500M and comfortably higher than the $493M estimate at that time.
Estimates have moved higher since the earnings report, with the Zacks Consensus Estimate for 2017 moving from $0.85 to $0.99. The number for next year has also moved higher, going from $1.09 to $1.27.
The driver for these increases is clearly the strong launch of the new Apple iPhone.
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