Citigroup Initiates Coverage on Zebra Technologies (NASDAQ:ZBRA)

Equities researchers at Citigroup initiated coverage on shares of Zebra Technologies (NASDAQ:ZBRA) in a research note issued on Tuesday, Marketbeat reports. The firm set a “neutral” rating and a $430.00 price target on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 7.43% from the company’s current price.

ZBRA has been the topic of several other reports. Barclays boosted their price objective on Zebra Technologies from $347.00 to $407.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. TD Cowen boosted their price objective on Zebra Technologies from $380.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on Zebra Technologies from $390.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their target price on Zebra Technologies from $400.00 to $427.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Needham & Company LLC boosted their target price on Zebra Technologies from $394.00 to $430.00 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $401.17.

Zebra Technologies Stock Performance

ZBRA stock opened at $400.25 on Tuesday. The company has a market cap of $20.64 billion, a P/E ratio of 54.46 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.37 and a quick ratio of 0.96. The stock’s fifty day moving average price is $396.55 and its 200-day moving average price is $364.05. Zebra Technologies has a 1 year low of $233.95 and a 1 year high of $413.43.

Zebra Technologies (NASDAQ:ZBRA) last released its earnings results on Tuesday, October 29th. The industrial products company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.57. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. Zebra Technologies had a return on equity of 15.56% and a net margin of 8.20%. Zebra Technologies’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. On average, equities analysts forecast that Zebra Technologies will post 12.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Nathan Andrew Winters sold 1,837 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $381.73, for a total transaction of $701,238.01. Following the transaction, the chief financial officer now directly owns 11,421 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. 1.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zebra Technologies

A number of large investors have recently made changes to their positions in the business. State Street Corp increased its position in shares of Zebra Technologies by 3.4% during the third quarter. State Street Corp now owns 2,149,839 shares of the industrial products company’s stock worth $796,128,000 after purchasing an additional 70,771 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Zebra Technologies by 1.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,449,609 shares of the industrial products company’s stock worth $447,828,000 after purchasing an additional 24,058 shares during the period. Geode Capital Management LLC grew its position in Zebra Technologies by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,245,702 shares of the industrial products company’s stock worth $459,766,000 after purchasing an additional 14,237 shares during the period. JPMorgan Chase & Co. grew its position in Zebra Technologies by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 907,065 shares of the industrial products company’s stock worth $335,905,000 after purchasing an additional 89,765 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Zebra Technologies by 4.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 426,660 shares of the industrial products company’s stock worth $158,001,000 after acquiring an additional 18,922 shares in the last quarter. 91.03% of the stock is 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.