Zebra Technologies (NASDAQ:ZBRA) Hits New 12-Month High Following Earnings Beat

Shares of Zebra Technologies Co. (NASDAQ:ZBRA) hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $372.93 and last traded at $362.07, with a volume of 177329 shares changing hands. The stock had previously closed at $335.09.

The industrial products company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.70. Zebra Technologies had a net margin of 5.28% and a return on equity of 11.77%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company earned $3.24 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year.

Analyst Ratings Changes

ZBRA has been the subject of a number of analyst reports. BNP Paribas raised Zebra Technologies from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $258.00 to $305.00 in a report on Thursday, June 13th. Wolfe Research raised shares of Zebra Technologies from a “peer perform” rating to an “outperform” rating and set a $337.00 price target for the company in a report on Monday, April 8th. StockNews.com raised shares of Zebra Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Needham & Company LLC raised their price objective on shares of Zebra Technologies from $370.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays boosted their target price on Zebra Technologies from $314.00 to $347.00 and gave the stock an “equal weight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Zebra Technologies presently has an average rating of “Moderate Buy” and an average target price of $340.92.

Insider Activity at Zebra Technologies

In other Zebra Technologies news, insider Michael Cho sold 1,657 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $320.51, for a total transaction of $531,085.07. Following the completion of the sale, the insider now owns 3,809 shares in the company, valued at approximately $1,220,822.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zebra Technologies

Institutional investors have recently modified their holdings of the stock. Transcendent Capital Group LLC acquired a new stake in shares of Zebra Technologies in the 2nd quarter valued at approximately $32,000. Global Retirement Partners LLC increased its stake in Zebra Technologies by 210.3% in the first quarter. Global Retirement Partners LLC now owns 121 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 82 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of Zebra Technologies during the first quarter worth $36,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Zebra Technologies by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 118 shares of the industrial products company’s stock valued at $36,000 after buying an additional 33 shares during the period. Finally, Webster Bank N. A. increased its position in shares of Zebra Technologies by 792.9% in the 2nd quarter. Webster Bank N. A. now owns 125 shares of the industrial products company’s stock valued at $39,000 after buying an additional 111 shares in the last quarter. 91.03% of the stock is currently owned by institutional investors and hedge funds.

Zebra Technologies Price Performance

The company has a 50 day moving average of $315.57 and a 200 day moving average of $294.31. The company has a current ratio of 1.28, a quick ratio of 0.56 and a debt-to-equity ratio of 0.63. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 69.68 and a beta of 1.66.

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.