Zumiez (NASDAQ:ZUMZ) Rating Lowered to Buy at BidaskClub

BidaskClub downgraded shares of Zumiez (NASDAQ:ZUMZ) from a strong-buy rating to a buy rating in a research report report published on Wednesday, BidAskClub reports.

A number of other analysts have also issued reports on ZUMZ. Pivotal Research raised their target price on Zumiez from $22.00 to $26.00 and gave the company a hold rating in a report on Tuesday, September 3rd. TheStreet raised Zumiez from a c+ rating to a b rating in a report on Thursday, September 5th. B. Riley lifted their price objective on Zumiez from $28.00 to $32.00 and gave the stock a buy rating in a report on Friday, September 6th. Robert W. Baird set a $33.00 price objective on Zumiez and gave the stock a hold rating in a report on Friday, September 6th. Finally, DA Davidson lifted their price objective on Zumiez to $28.00 and gave the stock a neutral rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Zumiez has an average rating of Hold and a consensus price target of $26.83.

Shares of NASDAQ ZUMZ traded up $0.06 during mid-day trading on Wednesday, hitting $30.47. 297,100 shares of the company traded hands, compared to its average volume of 282,825. The stock has a market capitalization of $783.48 million, a price-to-earnings ratio of 17.02, a PEG ratio of 1.18 and a beta of 1.50. The business has a 50 day moving average of $31.53 and a two-hundred day moving average of $26.60. The company has a quick ratio of 1.23, a current ratio of 2.06 and a debt-to-equity ratio of 0.73. Zumiez has a 1 year low of $17.57 and a 1 year high of $34.15.

Zumiez (NASDAQ:ZUMZ) last released its earnings results on Thursday, September 5th. The apparel and footwear maker reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.17. The firm had revenue of $228.40 million for the quarter, compared to analyst estimates of $223.65 million. Zumiez had a return on equity of 13.59% and a net margin of 5.35%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. As a group, research analysts anticipate that Zumiez will post 2.16 EPS for the current year.

In related news, Director Scott Andrew Bailey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $30.72, for a total transaction of $61,440.00. Following the completion of the transaction, the director now owns 5,451 shares in the company, valued at approximately $167,454.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas D. Campion sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $32.00, for a total value of $38,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 332,516 shares of company stock worth $10,439,390 in the last three months. 23.10% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Zumiez by 5.9% during the 2nd quarter. BlackRock Inc. now owns 3,136,830 shares of the apparel and footwear maker’s stock worth $81,870,000 after buying an additional 176,084 shares during the period. Vanguard Group Inc. lifted its position in shares of Zumiez by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,447,261 shares of the apparel and footwear maker’s stock worth $63,874,000 after buying an additional 75,460 shares during the period. Balyasny Asset Management LLC lifted its position in shares of Zumiez by 1,215.9% during the 2nd quarter. Balyasny Asset Management LLC now owns 715,510 shares of the apparel and footwear maker’s stock worth $18,675,000 after buying an additional 661,135 shares during the period. Maverick Capital Ltd. lifted its position in shares of Zumiez by 36.7% during the 2nd quarter. Maverick Capital Ltd. now owns 360,250 shares of the apparel and footwear maker’s stock worth $9,403,000 after buying an additional 96,730 shares during the period. Finally, Nuveen Asset Management LLC bought a new position in shares of Zumiez during the 2nd quarter worth approximately $7,724,000. Institutional investors and hedge funds own 83.62% of the company’s stock.

Zumiez Company Profile

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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