Zebra Technologies (NASDAQ:ZBRA) Given New $300.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised its price target for Zebra Technologies from $280 to $300 while maintaining an "equal weight" rating, indicating a potential downside of 1.32% from the previous close.
• The company announced a $250 million share buyback plan, suggesting management views the stock as undervalued.
• Zebra Technologies reported $3.61 EPS for its latest quarter, surpassing estimates, with revenues of $1.29 billion, reflecting a year-over-year increase of 6.2%.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) had its price target raised by investment analysts at Morgan Stanley from $280.00 to $300.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Morgan Stanley's price target indicates a potential downside of 6.65% from the company's previous close.

A number of other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Zebra Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. BNP Paribas raised Zebra Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. Barclays boosted their target price on Zebra Technologies from $263.00 to $301.00 and gave the stock an "equal weight" rating in a report on Tuesday. UBS Group reduced their price target on Zebra Technologies from $425.00 to $410.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Truist Financial increased their price target on shares of Zebra Technologies from $269.00 to $319.00 and gave the company a "hold" rating in a report on Wednesday. Five 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 company's stock. According to data from MarketBeat, Zebra Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $357.44.

Zebra Technologies Price Performance

Shares of ZBRA stock traded up $5.38 during trading hours on Wednesday, hitting $321.39. 173,501 shares of the company's stock were exchanged, compared to its average volume of 595,435. Zebra Technologies has a 12-month low of $205.73 and a 12-month high of $427.76. The company has a market capitalization of $16.34 billion, a PE ratio of 30.39 and a beta of 1.75. The business's 50 day simple moving average is $312.50 and its 200-day simple moving average is $301.43. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.29 billion. Zebra Technologies had a return on equity of 18.95% and a net margin of 10.56%. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $3.18 earnings per share. On average, equities research analysts anticipate that Zebra Technologies will post 13.71 earnings per share for the current year.

Zebra Technologies declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 5th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Zebra Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Trust Co. of Toledo NA OH purchased a new stake in Zebra Technologies during the second quarter valued at approximately $25,000. Investment Management Corp VA ADV purchased a new position in Zebra Technologies during the fourth quarter valued at $27,000. Zions Bancorporation National Association UT bought a new stake in Zebra Technologies during the first quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Zebra Technologies in the first quarter worth about $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Zebra Technologies in the first quarter worth about $30,000. Hedge funds and other institutional investors own 91.03% of the company's stock.

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.