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

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

ZUMZ has been the topic of several other research reports. TheStreet upgraded Zumiez from a c+ rating to a b rating in a report on Thursday, September 5th. B. Riley upped their target price 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 target price on Zumiez and gave the stock a hold rating in a report on Friday, September 6th. DA Davidson upped their target price on Zumiez to $28.00 and gave the stock a neutral rating in a report on Friday, September 6th. Finally, Pivotal Research upped their target price on Zumiez from $22.00 to $26.00 and gave the stock a hold rating in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Zumiez has a consensus rating of Hold and an average price target of $26.83.

Shares of Zumiez stock traded up $0.06 during trading on Wednesday, reaching $30.47. 297,100 shares of the company were exchanged, compared to its average volume of 282,825. The firm has a market capitalization of $783.48 million, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.18 and a beta of 1.50. The business has a 50-day moving average price of $31.53 and a 200-day moving average price of $26.60. Zumiez has a twelve month low of $17.57 and a twelve month high of $34.15. 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 (NASDAQ:ZUMZ) last issued its quarterly earnings results on Thursday, September 5th. The apparel and footwear maker reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.17. The company 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 quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. On average, equities research analysts forecast that Zumiez will post 2.16 EPS for the current fiscal year.

In other Zumiez news, insider Chris K. Visser sold 4,095 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $34.00, for a total value of $139,230.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard Miles Brooks sold 180,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $30.07, for a total value of $5,412,600.00. Following the completion of the sale, the chief executive officer now owns 2,893,024 shares in the company, valued at approximately $86,993,231.68. The disclosure for this sale can be found here. Insiders have sold 332,516 shares of company stock worth $10,439,390 in the last quarter. 23.10% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. raised its stake in Zumiez by 15.6% in the second quarter. Jacobs Levy Equity Management Inc. now owns 53,310 shares of the apparel and footwear maker’s stock valued at $1,391,000 after buying an additional 7,190 shares during the period. Ellington Management Group LLC bought a new stake in Zumiez in the second quarter valued at approximately $603,000. Morgan Stanley raised its stake in Zumiez by 128.9% in the second quarter. Morgan Stanley now owns 118,943 shares of the apparel and footwear maker’s stock valued at $3,105,000 after buying an additional 66,991 shares during the period. Mackay Shields LLC bought a new stake in Zumiez in the third quarter valued at approximately $881,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Zumiez in the third quarter valued at approximately $1,764,000. Hedge funds and other institutional investors own 83.62% 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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