Zebra Technologies (NASDAQ:ZBRA) to Buyback $250.00 million in Stock

Key Points

• Zebra Technologies has authorized a stock buyback program valued at $250 million, allowing it to repurchase up to 1.4% of its shares.
• Recent analyst ratings show an overall positive outlook, with price targets ranging from $280.00 to $408.00, indicating expected growth for the company.
• The company reported $3.61 earnings per share for the latest quarter, surpassing expectations, with revenues also up by 6.2% year-over-year.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) declared that its board has authorized a stock repurchase plan on Tuesday, August 5th, RTT News reports. The company plans to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Zebra Technologies Trading Up 0.5%

Shares of ZBRA traded up $1.64 during mid-day trading on Friday, reaching $317.65. The company had a trading volume of 408,411 shares, compared to its average volume of 596,835. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of 30.00 and a beta of 1.75. The firm has a fifty day simple moving average of $312.50 and a 200-day simple moving average of $301.43. Zebra Technologies has a fifty-two week low of $205.73 and a fifty-two 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 (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.30. Zebra Technologies had a net margin of 10.56% and a return on equity of 18.95%. The company 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 business earned $3.18 earnings per share. The business's quarterly revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Zebra Technologies will post 13.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ZBRA has been the subject of several recent analyst reports. BNP Paribas raised Zebra Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. Citigroup reissued a "neutral" rating and issued a $342.00 target price (up previously from $280.00) on shares of Zebra Technologies in a research report on Monday, July 14th. Morgan Stanley lifted their price objective on Zebra Technologies from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Wednesday. Needham & Company LLC increased their target price on Zebra Technologies from $325.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, UBS Group dropped their target price 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. Five equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.