Zebra Technologies (NASDAQ:ZBRA) Hits New 12-Month High After Strong Earnings

Zebra Technologies Co. (NASDAQ:ZBRA) shares reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $322.95 and last traded at $316.46, with a volume of 154280 shares. The stock had previously closed at $300.01.

The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.71. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zebra Technologies had a return on equity of 15.30% and a net margin of 6.46%. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.59 EPS.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group lifted their price target on shares of Zebra Technologies from $340.00 to $368.00 and gave the company a “buy” rating in a report on Wednesday. Stephens boosted their target price on Zebra Technologies from $335.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial restated a “hold” rating and set a $315.00 price target (up previously from $300.00) on shares of Zebra Technologies in a report on Wednesday. Wolfe Research upgraded Zebra Technologies from a “peer perform” rating to an “outperform” rating and set a $337.00 target price for the company in a research report on Monday, April 8th. Finally, StockNews.com cut shares of Zebra Technologies from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $310.64.

Insider Buying and Selling

In other Zebra Technologies news, CAO Colleen M. O’sullivan sold 135 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $279.36, for a total transaction of $37,713.60. Following the completion of the transaction, the chief accounting officer now owns 5,543 shares in the company, valued at $1,548,492.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZBRA. First Horizon Advisors Inc. increased its holdings in Zebra Technologies by 60.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 149 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 56 shares during the period. Global Retirement Partners LLC increased its stake in shares of Zebra Technologies by 210.3% during the first quarter. Global Retirement Partners LLC now owns 121 shares of the industrial products company’s stock valued at $36,000 after buying an additional 82 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in shares of Zebra Technologies during the first quarter valued at $36,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Zebra Technologies in the fourth quarter valued at about $44,000. Finally, Tortoise Investment Management LLC lifted its stake in Zebra Technologies by 100.0% in the fourth quarter. Tortoise Investment Management LLC now owns 200 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 100 shares during the period. 91.03% of the stock is currently owned by institutional investors.

Zebra Technologies Trading Down 1.8 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.54 and a current ratio of 1.05. The company has a market capitalization of $15.88 billion, a P/E ratio of 54.12 and a beta of 1.79. The company’s fifty day simple moving average is $288.42 and its 200-day simple moving average is $257.08.

Zebra Technologies Company Profile

Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.