Zebra Technologies (NASDAQ:ZBRA) Upgraded to Equal Weight at Morgan Stanley

Zebra Technologies (NASDAQ:ZBRA) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Monday,Benzinga reports. The firm currently has a $400.00 price objective on the industrial products company’s stock, up from their prior price objective of $305.00. Morgan Stanley’s price objective would indicate a potential downside of 1.72% from the company’s current price.

A number of other brokerages have also issued reports on ZBRA. Truist Financial reissued a “hold” rating and issued a $383.00 target price (up previously from $379.00) on shares of Zebra Technologies in a research report on Wednesday, October 30th. Needham & Company LLC boosted their price objective on shares of Zebra Technologies from $394.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group increased their target price on shares of Zebra Technologies from $390.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird boosted their price target on shares of Zebra Technologies from $380.00 to $415.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, TD Cowen raised their price objective on Zebra Technologies from $380.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $393.82.

Zebra Technologies Stock Up 0.3 %

Shares of ZBRA stock opened at $407.00 on Monday. Zebra Technologies has a 12-month low of $232.29 and a 12-month high of $409.03. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average of $380.51 and a 200-day moving average of $344.40. The company has a market capitalization of $20.99 billion, a price-to-earnings ratio of 55.37 and a beta of 1.64.

Zebra Technologies (NASDAQ:ZBRA) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.57. Zebra Technologies had a net margin of 8.20% and a return on equity of 15.56%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, equities research analysts predict that Zebra Technologies will post 12.4 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Nathan Andrew Winters sold 1,837 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $381.73, for a total value of $701,238.01. Following the transaction, the chief financial officer now directly owns 11,421 shares of the company’s stock, valued at $4,359,738.33. This represents a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On Zebra Technologies

Several hedge funds have recently bought and sold shares of the stock. State Street Corp increased its position in Zebra Technologies by 3.4% during the 3rd quarter. State Street Corp now owns 2,149,839 shares of the industrial products company’s stock worth $796,128,000 after buying an additional 70,771 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Zebra Technologies by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,449,609 shares of the industrial products company’s stock valued at $447,828,000 after buying an additional 24,058 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Zebra Technologies by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,245,702 shares of the industrial products company’s stock valued at $459,766,000 after buying an additional 14,237 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Zebra Technologies by 4.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 426,660 shares of the industrial products company’s stock worth $158,001,000 after buying an additional 18,922 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Zebra Technologies by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 390,541 shares of the industrial products company’s stock worth $120,650,000 after acquiring an additional 21,534 shares during the period. 91.03% of the stock is currently owned by institutional investors and hedge funds.

About Zebra Technologies

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.