Boston Partners Lowers Holdings in Zebra Technologies Corporation (NASDAQ:ZBRA)

Key Points

• Boston Partners reduced its holdings in Zebra Technologies by 24.4%, selling 307,246 shares during the 1st quarter, resulting in ownership of approximately 1.86% of the company valued at $269 million.
• Zebra Technologies reported $3.61 EPS for the latest quarter, exceeding analyst expectations of $3.31, with revenue of $1.29 billion showing a 6.2% year-over-year growth.
• The company has approved a stock buyback program, allowing it to repurchase up to $250 million worth of shares, indicating confidence in its stock valuation.

Boston Partners decreased its holdings in Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 24.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 953,484 shares of the industrial products company's stock after selling 307,246 shares during the quarter. Boston Partners owned approximately 1.86% of Zebra Technologies worth $269,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Investment Management Corp VA ADV purchased a new stake in shares of Zebra Technologies during the 4th quarter worth about $27,000. Zions Bancorporation National Association UT purchased a new stake in shares of Zebra Technologies during the 1st quarter worth about $27,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Zebra Technologies during the 1st quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Zebra Technologies during the 1st quarter worth about $30,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Zebra Technologies during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 91.03% of the company's stock.

Zebra Technologies Stock Performance

Shares of ZBRA opened at $337.80 on Thursday. The business's 50 day moving average is $315.28 and its two-hundred day moving average is $298.82. Zebra Technologies Corporation has a 52-week low of $205.73 and a 52-week high of $427.76. The firm has a market cap of $17.18 billion, a price-to-earnings ratio of 31.90 and a beta of 1.75. The company has a quick ratio of 1.03, a current ratio of 1.46 and a debt-to-equity ratio of 0.59.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $3.61 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company posted $3.18 EPS. Zebra Technologies's quarterly revenue was up 6.2% on a year-over-year basis. Analysts forecast that Zebra Technologies Corporation will post 13.71 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZBRA. UBS Group decreased their target price on Zebra Technologies from $425.00 to $410.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Wall Street Zen lowered Zebra Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Morgan Stanley boosted their price target on Zebra Technologies from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Robert W. Baird boosted their price target on Zebra Technologies from $320.00 to $367.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Finally, BNP Paribas raised Zebra Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.44.

Zebra Technologies 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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