BidaskClub Upgrades Zumiez (ZUMZ) to Hold

Zumiez (NASDAQ:ZUMZ) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Other analysts have also recently issued research reports about the company. TheStreet upgraded Zumiez from a “c+” rating to a “b” rating in a research report on Friday, September 7th. Pivotal Research restated a “buy” rating and issued a $30.00 price target on shares of Zumiez in a research report on Thursday, October 11th. B. Riley upped their price target on Zumiez from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. ValuEngine upgraded Zumiez from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Finally, Jefferies Financial Group assumed coverage on Zumiez in a research report on Thursday, October 25th. They issued a “buy” rating and a $28.00 price target for the company. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $26.88.

Zumiez stock traded up $0.75 during mid-day trading on Tuesday, reaching $24.36. 389,800 shares of the stock traded hands, compared to its average volume of 452,232. The stock has a market cap of $603.78 million, a PE ratio of 22.15, a price-to-earnings-growth ratio of 1.11 and a beta of 1.20. Zumiez has a 12-month low of $16.90 and a 12-month high of $32.70.

Zumiez (NASDAQ:ZUMZ) last posted its quarterly earnings data on Thursday, September 6th. The apparel and footwear maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $218.50 million. Zumiez had a return on equity of 9.82% and a net margin of 3.43%. Zumiez’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Equities research analysts anticipate that Zumiez will post 1.7 EPS for the current fiscal year.

In other Zumiez news, insider Chris K. Visser sold 1,934 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $28.08, for a total value of $54,306.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher Codington Work sold 5,746 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $32.00, for a total value of $183,872.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,344 shares of company stock valued at $3,788,085. Company insiders own 27.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ZUMZ. BlackRock Inc. grew its position in shares of Zumiez by 10.5% during the first quarter. BlackRock Inc. now owns 2,894,789 shares of the apparel and footwear maker’s stock worth $69,186,000 after purchasing an additional 274,813 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Zumiez by 298.0% during the first quarter. JPMorgan Chase & Co. now owns 118,230 shares of the apparel and footwear maker’s stock worth $2,826,000 after purchasing an additional 88,524 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Zumiez by 2.5% during the first quarter. Principal Financial Group Inc. now owns 139,345 shares of the apparel and footwear maker’s stock worth $3,330,000 after purchasing an additional 3,407 shares in the last quarter. Millennium Management LLC grew its position in shares of Zumiez by 677.5% during the first quarter. Millennium Management LLC now owns 404,602 shares of the apparel and footwear maker’s stock worth $9,670,000 after purchasing an additional 352,562 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Zumiez by 17.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 65,900 shares of the apparel and footwear maker’s stock worth $1,651,000 after purchasing an additional 9,700 shares in the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.

About Zumiez

Zumiez Inc, together with its subsidiaries, operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. Its hardgoods include skateboards, snowboards, bindings, components, and other equipment. As of September 1, 2018, the company operated 703 stores, including 610 stores in the United States, 50 stores in Canada, 36 stores in Europe, and 7 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.

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Analyst Recommendations for Zumiez (NASDAQ:ZUMZ)

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