Zebra Technologies (NASDAQ:ZBRA) Stock Gets Price Target Cut from Citigroup

Zebra Technologies (NASDAQ:ZBRA) had its price target reduced by Citigroup from $400.00 to $398.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other research firms also recently weighed in on ZBRA. Zacks Research downgraded Zebra Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Barclays boosted their price target on Zebra Technologies from $416.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial increased their price objective on Zebra Technologies from $355.00 to $378.00 and gave the stock a “hold” rating in a report on Monday, October 5th. Cfra raised shares of Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, TD Cowen raised their price objective on shares of Zebra Technologies from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $388.67.

Zebra Technologies Stock Performance

ZBRA stock opened at $322.02 on Wednesday. The firm has a 50 day simple moving average of $364.61 and a 200 day simple moving average of $282.38. Zebra Technologies has a 52 week low of $199.05 and a 52 week high of $392.78. The stock has a market cap of $15.34 billion, a P/E ratio of 25.99 and a beta of 1.61. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.33 and a current ratio of 0.52.

Zebra Technologies (NASDAQ:ZBRA) last posted its quarterly earnings results on Tuesday, November 3rd. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.89 by $0.06. Zebra Technologies had a net margin of 9.22% and a return on equity of 22.29%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the company posted $3.88 EPS. Zebra Technologies’s revenue was up 22.3% on a year-over-year basis. Research analysts anticipate that Zebra Technologies will post 18.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Zebra Technologies

In related news, Director Linda Connly sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $377.68, for a total value of $188,840.00. Following the transaction, the director directly owned 3,708 shares of the company’s stock, valued at approximately $1,400,437.44. This trade represents a 11.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Zebra Technologies

A number of institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC acquired a new position in shares of Zebra Technologies during the first quarter valued at about $20,908,000. Calamos Wealth Management LLC bought a new position in Zebra Technologies during the first quarter valued at about $9,053,000. Bank of America Corp DE increased its stake in Zebra Technologies by 22.9% during the first quarter. Bank of America Corp DE now owns 291,031 shares of the industrial products company’s stock valued at $60,849,000 after acquiring an additional 54,222 shares during the period. VELA Investment Management LLC raised its holdings in Zebra Technologies by 1,400.8% in the 2nd quarter. VELA Investment Management LLC now owns 21,281 shares of the industrial products company’s stock valued at $5,602,000 after acquiring an additional 19,863 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in Zebra Technologies by 21.8% in the 2nd quarter. Tidal Investments LLC now owns 11,455 shares of the industrial products company’s stock valued at $3,016,000 after acquiring an additional 2,053 shares in the last quarter. Institutional investors own 91.03% of the company’s stock.

About Zebra Technologies

Zebra Technologies Corp. (NASDAQ: ZBRA) develops technologies that help businesses identify, track and manage assets, inventory and operational processes. Its solutions are used by organizations in retail, manufacturing, transportation and logistics, healthcare, government and other industries to improve visibility and productivity across their operations.

The company’s portfolio includes barcode and label printers, barcode scanners, mobile computers, radio-frequency identification (RFID) readers and tags, machine-vision systems, fixed industrial scanners and related software.