Truist Financial Forecasts Strong Price Appreciation for Zebra Technologies (NASDAQ:ZBRA) Stock

Zebra Technologies (NASDAQ:ZBRA) had its target price increased by analysts at Truist Financial from $383.00 to $408.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s target price would indicate a potential upside of 3.81% from the stock’s previous close.

Several other analysts have also weighed in on the company. Barclays lifted their price objective on Zebra Technologies from $347.00 to $407.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. UBS Group upped their target price on shares of Zebra Technologies from $390.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. StockNews.com raised Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their target price on Zebra Technologies from $394.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on shares of Zebra Technologies from $400.00 to $427.00 and gave the company an “equal weight” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Zebra Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $398.55.

Zebra Technologies Trading Up 2.0 %

Zebra Technologies stock opened at $393.04 on Thursday. Zebra Technologies has a 12 month low of $233.95 and a 12 month high of $413.43. The company’s fifty day simple moving average is $390.86 and its 200-day simple moving average is $352.61. 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 stock has a market cap of $20.27 billion, a P/E ratio of 53.47 and a beta of 1.63.

Zebra Technologies (NASDAQ:ZBRA) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.57. The company had revenue of $1.26 billion during 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%. The firm’s revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 EPS. As a group, sell-side analysts forecast that Zebra Technologies will post 12.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Nathan Andrew Winters sold 1,837 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 11,421 shares in the company, valued at $4,359,738.33. The trade was a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.06% of the company’s stock.

Institutional Trading of Zebra Technologies

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Zebra Technologies by 2,423.5% in the 3rd quarter. FMR LLC now owns 275,949 shares of the industrial products company’s stock valued at $102,189,000 after purchasing an additional 265,014 shares during the period. AXA S.A. lifted its holdings in shares of Zebra Technologies by 62.3% during the second quarter. AXA S.A. now owns 277,864 shares of the industrial products company’s stock worth $85,841,000 after purchasing an additional 106,630 shares during the period. State Street Corp raised its holdings 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 purchasing an additional 70,771 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Zebra Technologies by 94.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 142,908 shares of the industrial products company’s stock valued at $52,922,000 after acquiring an additional 69,549 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Zebra Technologies by 158.4% in the third quarter. The Manufacturers Life Insurance Company now owns 100,875 shares of the industrial products company’s stock valued at $37,356,000 after buying an additional 61,842 shares during the period. 91.03% of the stock is owned by institutional investors and hedge funds.

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.