Bank of Nova Scotia Lowers Holdings in Zebra Technologies Corporation (NASDAQ:ZBRA)

Bank of Nova Scotia decreased its position in Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 22.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,373 shares of the industrial products company's stock after selling 1,513 shares during the period. Bank of Nova Scotia's holdings in Zebra Technologies were worth $1,518,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ZBRA. Investment Management Corp VA ADV bought a new position in shares of Zebra Technologies during the fourth quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Zebra Technologies in the 1st quarter worth about $30,000. Coppell Advisory Solutions LLC purchased a new position in Zebra Technologies in the 4th quarter worth about $36,000. Allworth Financial LP lifted its stake in Zebra Technologies by 29.7% during the 1st quarter. Allworth Financial LP now owns 192 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 44 shares during the period. Finally, GeoWealth Management LLC boosted its holdings in shares of Zebra Technologies by 103.8% during the 4th quarter. GeoWealth Management LLC now owns 161 shares of the industrial products company's stock valued at $62,000 after acquiring an additional 82 shares during the last quarter. 91.03% of the stock is owned by hedge funds and other institutional investors.

Zebra Technologies Trading Up 2.5%

Shares of ZBRA stock opened at $316.01 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.46. The stock has a fifty day simple moving average of $312.50 and a two-hundred day simple moving average of $301.43. The firm has a market capitalization of $16.07 billion, a PE ratio of 29.84 and a beta of 1.75. Zebra Technologies Corporation has a 52-week low of $205.73 and a 52-week high of $427.76.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.61 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $0.30. Zebra Technologies had a return on equity of 18.95% and a net margin of 10.56%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company posted $3.18 earnings per share. The business's quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Zebra Technologies Corporation will post 13.71 EPS for the current fiscal year.

Zebra Technologies announced that its board has initiated a stock repurchase plan on Tuesday, August 5th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZBRA. Needham & Company LLC boosted their price objective on shares of Zebra Technologies from $325.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday. Wall Street Zen lowered shares of Zebra Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Robert W. Baird raised their price target on Zebra Technologies from $320.00 to $367.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. UBS Group reduced their price objective on Zebra Technologies from $425.00 to $410.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Morgan Stanley increased their target price on Zebra Technologies from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $357.44.

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.

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