Zebra Technologies (NASDAQ:ZBRA) Price Target Raised to $319.00

Key Points

• Truist Financial has raised its price target for Zebra Technologies' stock from $269.00 to $319.00, suggesting a potential upside of 5.42% from the current price.
• Zebra Technologies has announced a $250 million share buyback plan, indicating the company's management believes its stock is undervalued.
• The company reported earnings of $3.61 per share for the last quarter, exceeding the consensus estimate, with revenue of $1.29 billion, an increase of 6.2% compared to the previous year.

Zebra Technologies (NASDAQ:ZBRA - Free Report) had its target price increased by Truist Financial from $269.00 to $319.00 in a report issued on Wednesday,Benzinga reports. Truist Financial currently has a hold rating on the industrial products company's stock.

A number of other brokerages also recently commented on ZBRA. Needham & Company LLC increased their price objective on Zebra Technologies from $325.00 to $345.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays set a $301.00 price objective on Zebra Technologies and gave the company an "equal weight" rating in a research report on Tuesday. Wall Street Zen downgraded Zebra Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. UBS Group reduced 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. Finally, Robert W. Baird increased their target price on Zebra Technologies from $320.00 to $367.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $357.44.

Zebra Technologies Price Performance

Shares of NASDAQ:ZBRA traded up $1.65 on Wednesday, reaching $317.66. 597,790 shares of the company traded hands, compared to its average volume of 609,361. Zebra Technologies has a fifty-two week low of $205.73 and a fifty-two week high of $427.76. The company's 50 day moving average is $313.10 and its 200-day moving average is $300.74. The stock has a market capitalization of $16.15 billion, a PE ratio of 30.00 and a beta of 1.75. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.46 and a quick ratio of 1.02.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.61 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 during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm earned $3.18 EPS. The company's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, analysts anticipate that Zebra Technologies will post 13.71 earnings per share for the current fiscal year.

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

Institutional Trading of Zebra Technologies

Several hedge funds and other institutional investors have recently modified their holdings of ZBRA. American Century Companies Inc. raised its holdings in shares of Zebra Technologies by 11.7% during the fourth quarter. American Century Companies Inc. now owns 2,040 shares of the industrial products company's stock worth $788,000 after acquiring an additional 213 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Zebra Technologies by 98.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,928 shares of the industrial products company's stock worth $745,000 after acquiring an additional 958 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Zebra Technologies by 222.4% during the fourth quarter. Wellington Management Group LLP now owns 11,145 shares of the industrial products company's stock worth $4,304,000 after acquiring an additional 7,688 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Zebra Technologies during the fourth quarter worth $212,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Zebra Technologies by 298.1% during the fourth quarter. Russell Investments Group Ltd. now owns 49,166 shares of the industrial products company's stock worth $18,962,000 after acquiring an additional 36,815 shares in the last quarter. 91.03% of the stock is currently owned by hedge funds and other institutional investors.

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.