Zebra Technologies (NASDAQ:ZBRA) Hits New 1-Year High After Better-Than-Expected Earnings

Shares of Zebra Technologies Co. (NASDAQ:ZBRA) hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $322.95 and last traded at $316.46, with a volume of 154280 shares traded. The stock had previously closed at $300.01.

The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.70. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Zebra Technologies had a return on equity of 15.30% and a net margin of 6.46%. The firm’s quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.59 EPS.

Analysts Set New Price Targets

Several brokerages recently commented on ZBRA. StockNews.com cut shares of Zebra Technologies from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Truist Financial began coverage on shares of Zebra Technologies in a research report on Thursday, March 14th. They set a “hold” rating and a $300.00 price target for the company. Barclays started coverage on Zebra Technologies in a research report on Tuesday, April 2nd. They issued an “equal weight” rating and a $292.00 price objective on the stock. Finally, 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. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $278.64.

Insider Activity at Zebra Technologies

In other Zebra Technologies news, CAO Colleen M. O’sullivan sold 135 shares of the company’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 value of $37,713.60. Following the completion of the sale, the chief accounting officer now owns 5,543 shares of the company’s stock, valued at $1,548,492.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zebra Technologies

Large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its stake in shares of Zebra Technologies by 60.2% during the third quarter. First Horizon Advisors Inc. now owns 149 shares of the industrial products company’s stock valued at $35,000 after buying an additional 56 shares during the last quarter. Global Retirement Partners LLC grew its position in Zebra Technologies by 210.3% during the 1st quarter. Global Retirement Partners LLC now owns 121 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 82 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Zebra Technologies in the 4th quarter worth approximately $44,000. Tortoise Investment Management LLC increased its stake in Zebra Technologies by 100.0% in the 4th quarter. Tortoise Investment Management LLC now owns 200 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 100 shares during the period. Finally, Centerpoint Advisors LLC bought a new stake in Zebra Technologies in the third quarter valued at approximately $59,000. Hedge funds and other institutional investors own 91.03% of the company’s stock.

Zebra Technologies Stock Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.54. The stock has a market cap of $16.16 billion, a PE ratio of 55.09 and a beta of 1.79. The business has a 50 day moving average price of $287.73 and a two-hundred day moving average price of $256.72.

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.