Barclays Boosts Zebra Technologies (NASDAQ:ZBRA) Price Target to $301.00

Key Points

• Barclays has raised its price target for Zebra Technologies from $263 to $301, maintaining an "equal weight" rating, suggesting a potential downside of 0.53% from the company's prior close.
• Other firms like Citigroup and BNP Paribas have also adjusted their ratings, with Citigroup setting a target of $342 and BNP Paribas upgrading to a "strong-buy" with a target of $408.
• For the recent quarter, Zebra Technologies reported earnings per share of $3.61, exceeding expectations and noting a 6.2% year-over-year revenue growth of $1.29 billion.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) had its price target upped by analysts at Barclays from $263.00 to $301.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage presently has an "equal weight" rating on the industrial products company's stock. Barclays's price target points to a potential downside of 5.24% from the company's previous close.

Several other equities analysts have also recently issued reports on the stock. BNP Paribas Exane raised shares of Zebra Technologies from a "neutral" rating to an "outperform" rating and set a $408.00 price objective on the stock in a research note on Thursday, July 10th. Wall Street Zen cut shares of Zebra Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Truist Financial dropped their price objective on shares of Zebra Technologies from $379.00 to $254.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. UBS Group dropped their price objective on shares of Zebra Technologies from $425.00 to $410.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Citigroup reissued a "neutral" rating and issued a $342.00 price objective (up from $280.00) on shares of Zebra Technologies in a research note on Monday, July 14th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $357.44.

Zebra Technologies Stock Performance

Shares of Zebra Technologies stock opened at $317.66 on Tuesday. The firm's fifty day simple moving average is $313.10 and its 200-day simple moving average is $300.74. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 30.00 and a beta of 1.75. Zebra Technologies has a 12 month low of $205.73 and a 12 month high of $427.76. 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 earnings results 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. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.29 billion. Zebra Technologies had a net margin of 10.56% and a return on equity of 18.95%. The company's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.18 EPS. As a group, equities analysts forecast that Zebra Technologies will post 13.71 earnings per share for the current year.

Zebra Technologies announced that its Board of Directors has approved a stock repurchase program 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 purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Zebra Technologies

Institutional investors have recently made changes to their positions in the stock. Trust Co. of Toledo NA OH purchased a new stake in shares of Zebra Technologies during the 2nd quarter worth $25,000. Investment Management Corp VA ADV purchased a new stake in shares of Zebra Technologies in the 4th quarter worth about $27,000. Zions Bancorporation National Association UT purchased a new stake in shares of Zebra Technologies in the 1st quarter worth about $27,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Zebra Technologies in the 1st quarter worth about $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Zebra Technologies in the 1st quarter worth about $30,000. 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.