Zumiez (NASDAQ:ZUMZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday. They currently have a $22.00 target price on the apparel and footwear maker’s stock. Zacks Investment Research‘s price target would indicate a potential downside of 2.44% from the stock’s previous close.
According to Zacks, “Zumiez has outperformed the broader industry in the past six months riding on robust top and bottom line surprise trends, alongside solid comps performance in recent months. Though the company posted in line earnings in third-quarter fiscal 2017, it delivered positive earnings surprise in the preceding eight quarters. Moreover, sales topped estimates for the sixth straight quarter. It also reported positive comps for the fifth straight quarter. Further, the company’s favorable comps trend continued in November, which reflected a solid start to the holiday season. This along with robust merchandise strategies and integrated sales channels led Zumiez to provide an encouraging view for holiday season sales and earnings growth in the fourth quarter. However, the company continues to be troubled by a tough retail environment, characterized by sluggish mall traffic, volatile consumer spending and macroeconomic uncertainty.”
ZUMZ has been the topic of several other research reports. B. Riley set a $23.00 price target on shares of Zumiez and gave the stock a “buy” rating in a report on Friday, December 1st. Jefferies Group reaffirmed a “hold” rating and issued a $21.00 price target on shares of Zumiez in a report on Sunday, December 3rd. William Blair reaffirmed a “buy” rating on shares of Zumiez in a report on Thursday. Robert W. Baird reaffirmed a “hold” rating and issued a $17.00 price target on shares of Zumiez in a report on Friday, September 8th. Finally, BMO Capital Markets set a $16.00 price target on shares of Zumiez and gave the stock a “hold” rating in a report on Sunday, September 10th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.50.
Zumiez (NASDAQ:ZUMZ) opened at $22.55 on Friday. The firm has a market cap of $569.38, a price-to-earnings ratio of 22.11, a PEG ratio of 1.06 and a beta of 1.39. Zumiez has a 1-year low of $11.43 and a 1-year high of $24.44.
Zumiez (NASDAQ:ZUMZ) last released its quarterly earnings results on Thursday, November 30th. The apparel and footwear maker reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $244.50 million. Zumiez had a net margin of 2.84% and a return on equity of 7.99%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. equities analysts predict that Zumiez will post 1.18 earnings per share for the current fiscal year.
In related news, Director Scott Andrew Bailey sold 7,843 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $20.75, for a total value of $162,742.25. Following the completion of the transaction, the director now directly owns 9,908 shares in the company, valued at $205,591. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.50% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in ZUMZ. Thrivent Financial For Lutherans purchased a new position in Zumiez in the second quarter worth $130,000. Voya Investment Management LLC purchased a new position in Zumiez in the second quarter worth $142,000. Marshall Wace North America L.P. purchased a new position in Zumiez in the second quarter worth $155,000. BNP Paribas Arbitrage SA grew its position in Zumiez by 29.1% in the second quarter. BNP Paribas Arbitrage SA now owns 13,016 shares of the apparel and footwear maker’s stock worth $161,000 after acquiring an additional 2,934 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Zumiez in the third quarter worth $199,000. Institutional investors own 74.58% of the company’s stock.
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Zumiez Inc, including its subsidiaries, is a specialty retailer of apparel, footwear, accessories and hardgoods for young men and women through the fashion, music, art and culture of action sports, streetwear and other lifestyles. The Company operates under the names Zumiez, Blue Tomato and Fast Times.
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