Citigroup Initiates Coverage on Zebra Technologies (NASDAQ:ZBRA)

Investment analysts at Citigroup started coverage on shares of Zebra Technologies (NASDAQ:ZBRA) in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $430.00 price target on the industrial products company’s stock. Citigroup’s price objective would indicate a potential upside of 12.66% from the company’s previous close.

Several other brokerages have also recently commented on ZBRA. UBS Group boosted their price objective on shares of Zebra Technologies from $390.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC lifted their target price on shares of Zebra Technologies from $394.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Truist Financial lifted their target price on shares of Zebra Technologies from $383.00 to $408.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Barclays lifted their target price on shares of Zebra Technologies from $347.00 to $407.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, TD Cowen lifted their target price on shares of Zebra Technologies from $380.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zebra Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $401.17.

Zebra Technologies Price Performance

ZBRA opened at $381.69 on Tuesday. The firm has a 50-day moving average price of $396.13 and a 200-day moving average price of $363.20. The company has a market capitalization of $19.69 billion, a price-to-earnings ratio of 51.93 and a beta of 1.64. Zebra Technologies has a twelve month low of $233.95 and a twelve month high of $413.43. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 0.61.

Zebra Technologies (NASDAQ:ZBRA) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $3.49 EPS for the quarter, beating the consensus estimate of $2.92 by $0.57. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Zebra Technologies had a net margin of 8.20% and a return on equity of 15.56%. Zebra Technologies’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 earnings per share. Equities analysts expect that Zebra Technologies will post 12.4 EPS for the current year.

Insider Buying and Selling at Zebra Technologies

In other news, CFO Nathan Andrew Winters sold 1,837 shares of the company’s 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.06% of the company’s stock.

Institutional Trading of Zebra Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of ZBRA. Concord Wealth Partners bought a new position in Zebra Technologies in the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Zebra Technologies in the 2nd quarter worth about $27,000. Fortitude Family Office LLC boosted its stake in Zebra Technologies by 159.5% in the 4th quarter. Fortitude Family Office LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 59 shares in the last quarter. Blue Trust Inc. boosted its stake in Zebra Technologies by 136.7% in the 3rd quarter. Blue Trust Inc. now owns 116 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Zebra Technologies by 794.1% in the 3rd quarter. Assetmark Inc. now owns 152 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 135 shares in the last quarter. 91.03% of the stock is owned by hedge funds and other institutional investors.

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.