Zumiez (NASDAQ:ZUMZ) Sets New 1-Year High After Strong Earnings

Shares of Zumiez Inc. (NASDAQ:ZUMZ) reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $30.81 and last traded at $30.32, with a volume of 23398 shares trading hands. The stock had previously closed at $25.67.

The apparel and footwear maker reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.29. The company had revenue of $210.18 million during the quarter, compared to the consensus estimate of $201.93 million. Zumiez had a negative net margin of 7.01% and a negative return on equity of 5.47%. During the same quarter in the prior year, the firm posted ($0.44) EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis.

Analyst Upgrades and Downgrades

ZUMZ has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on shares of Zumiez from $14.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, June 7th. B. Riley raised their price objective on Zumiez from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, June 7th.

Hedge Funds Weigh In On Zumiez

A number of hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Zumiez by 51.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,251 shares of the apparel and footwear maker’s stock valued at $66,000 after purchasing an additional 1,108 shares during the period. Russell Investments Group Ltd. bought a new position in Zumiez during the fourth quarter worth $497,000. Victory Capital Management Inc. lifted its holdings in Zumiez by 7.8% in the fourth quarter. Victory Capital Management Inc. now owns 33,055 shares of the apparel and footwear maker’s stock valued at $672,000 after buying an additional 2,398 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Zumiez by 9.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 457,780 shares of the apparel and footwear maker’s stock valued at $9,311,000 after acquiring an additional 39,470 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Zumiez by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,605,551 shares of the apparel and footwear maker’s stock worth $32,657,000 after acquiring an additional 49,581 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Zumiez Stock Performance

The stock has a fifty day simple moving average of $24.16 and a two-hundred day simple moving average of $19.41. The stock has a market capitalization of $588.03 million, a price-to-earnings ratio of -9.33 and a beta of 1.25.

Zumiez Company Profile

Zumiez Inc operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. The company provides hardgoods, including skateboards, snowboards, bindings, components, and other equipment. It operates stores in the United States, Canada, Europe, and Australia under the names of Zumiez, Blue Tomato, and Fast Times.