Zumiez (NASDAQ:ZUMZ) Downgraded by ValuEngine to Strong Sell

Zumiez (NASDAQ:ZUMZ) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the stock. Pivotal Research lifted their price objective on shares of Zumiez from $22.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. B. Riley lifted their price objective on shares of Zumiez from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Robert W. Baird set a $33.00 price objective on shares of Zumiez and gave the company a “hold” rating in a research report on Friday, September 6th. BidaskClub cut shares of Zumiez from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Finally, DA Davidson lifted their price objective on shares of Zumiez to $28.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.00.

NASDAQ ZUMZ traded down $0.64 on Monday, reaching $30.53. 489,991 shares of the stock were exchanged, compared to its average volume of 448,268. Zumiez has a one year low of $17.57 and a one year high of $33.47. The firm has a market capitalization of $804.09 million, a PE ratio of 17.06, a PEG ratio of 1.21 and a beta of 1.53. The company’s 50-day simple moving average is $28.86 and its two-hundred day simple moving average is $25.43. The company has a current ratio of 2.06, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73.

Zumiez (NASDAQ:ZUMZ) last released its earnings results on Thursday, September 5th. The apparel and footwear maker reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.17. Zumiez had a net margin of 5.35% and a return on equity of 13.59%. The company had revenue of $228.40 million for the quarter, compared to analysts’ expectations of $223.65 million. During the same quarter last year, the business earned $0.17 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that Zumiez will post 2.16 earnings per share for the current fiscal year.

In other Zumiez news, CEO Richard Miles Brooks sold 124,144 shares of Zumiez stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.07, for a total transaction of $4,105,442.08. Following the completion of the transaction, the chief executive officer now directly owns 2,893,024 shares of the company’s stock, valued at $95,672,303.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Christopher Ellis sold 8,315 shares of Zumiez stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $32.51, for a total transaction of $270,320.65. The disclosure for this sale can be found here. Insiders sold 328,421 shares of company stock worth $10,300,160 in the last 90 days. 23.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its stake in Zumiez by 140.9% during the third quarter. State of Alaska Department of Revenue now owns 15,613 shares of the apparel and footwear maker’s stock worth $494,000 after buying an additional 9,131 shares during the period. Maverick Capital Ltd. boosted its stake in Zumiez by 36.7% during the second 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. Nuveen Asset Management LLC purchased a new position in Zumiez during the second quarter worth $7,724,000. Victory Capital Management Inc. boosted its stake in Zumiez by 40.2% during the second quarter. Victory Capital Management Inc. now owns 81,886 shares of the apparel and footwear maker’s stock worth $2,137,000 after buying an additional 23,467 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in Zumiez by 96.6% during the second quarter. UBS Asset Management Americas Inc. now owns 16,990 shares of the apparel and footwear maker’s stock worth $443,000 after buying an additional 8,347 shares during the period. 83.43% of the stock is owned by institutional investors.

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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Analyst Recommendations for Zumiez (NASDAQ:ZUMZ)

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