Zebra Technologies (NASDAQ:ZBRA) Shares Gap Down - Here's Why

Zebra Technologies Co. (NASDAQ:ZBRA - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $352.92, but opened at $329.48. Zebra Technologies shares last traded at $327.72, with a volume of 298,289 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ZBRA shares. TD Cowen lifted their price target on Zebra Technologies from $380.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Robert W. Baird lifted their target price on Zebra Technologies from $380.00 to $415.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Citigroup began coverage on shares of Zebra Technologies in a research note on Tuesday, January 14th. They issued a "neutral" rating and a $430.00 price target on the stock. Truist Financial dropped their price objective on shares of Zebra Technologies from $409.00 to $379.00 and set a "hold" rating for the company in a research note on Friday. Finally, Morgan Stanley decreased their target price on shares of Zebra Technologies from $427.00 to $390.00 and set an "equal weight" rating on the stock in a research report on Friday. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $386.00.

Zebra Technologies Price Performance

The company has a market capitalization of $16.42 billion, a price-to-earnings ratio of 43.31 and a beta of 1.63. The business has a 50 day moving average price of $390.48 and a 200-day moving average price of $373.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 1.37.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.62 earnings per share for the quarter, missing analysts' consensus estimates of $3.85 by ($0.23). Zebra Technologies had a net margin of 8.20% and a return on equity of 15.56%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Research analysts predict that Zebra Technologies Co. will post 11.8 EPS for the current fiscal year.

Institutional Trading of Zebra Technologies

A number of hedge funds have recently bought and sold shares of the business. Quantinno Capital Management LP raised its stake in shares of Zebra Technologies by 645.9% during the 4th quarter. Quantinno Capital Management LP now owns 17,335 shares of the industrial products company's stock worth $6,695,000 after purchasing an additional 15,011 shares during the period. Mufg Securities Americas Inc. purchased a new position in shares of Zebra Technologies during the 4th quarter valued at $294,000. Man Group plc increased its holdings in Zebra Technologies by 150.4% in the 4th quarter. Man Group plc now owns 125,869 shares of the industrial products company's stock worth $48,613,000 after acquiring an additional 75,593 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in Zebra Technologies by 1.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,263 shares of the industrial products company's stock valued at $2,437,000 after purchasing an additional 102 shares during the last quarter. Finally, Occudo Quantitative Strategies LP boosted its position in Zebra Technologies by 43.8% during the fourth quarter. Occudo Quantitative Strategies LP now owns 1,711 shares of the industrial products company's stock worth $661,000 after purchasing an additional 521 shares during the period. 91.03% of the stock is currently owned by 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.