Zacks Investment Research upgraded shares of Zumiez Inc. (NASDAQ:ZUMZ) from a hold rating to a buy rating in a research note issued to investors on Wednesday, August 30th. Zacks Investment Research currently has $15.00 price target on the apparel and footwear maker’s stock.
According to Zacks, “Zumiez has outperformed the industry in the last three months, mainly backed the favorable comps and sales trend in recent months. Notably, the company delivered comps and sales growth for July, which marked the fifth straight month of comps growth. However, the company continues to battle soft mall traffic, volatile consumer spending and macroeconomic volatility. Further, retail industry is challenged by strong U.S. dollar, volatile commodity costs and global uncertainty. Nevertheless, we commend Zumiez’s efforts to keep pace with the evolving retail trends, as evident from its focus on omni-channel development. This helped Zumiez post seventh straight quarter of earnings surprise in first-quarter fiscal 2017. Also, its strategic initiatives, authentic lifestyle positioning and commitment to customer service position it for market share gains in the long term. Estimates have witnessed positive revisions ahead of the second quarter earnings.”
Several other equities analysts also recently weighed in on the company. BidaskClub raised Zumiez from a sell rating to a hold rating in a research report on Friday, August 25th. BMO Capital Markets set a $16.00 target price on Zumiez and gave the company a hold rating in a research report on Tuesday, August 8th. Jefferies Group LLC set a $15.00 target price on Zumiez and gave the company a hold rating in a research report on Thursday, July 6th. Finally, ValuEngine cut Zumiez from a buy rating to a hold rating in a research note on Friday, June 2nd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Zumiez has an average rating of Hold and an average target price of $19.50.
Zumiez (ZUMZ) traded up 3.67% during trading on Wednesday, hitting $16.95. 683,117 shares of the company traded hands. Zumiez has a 52 week low of $11.43 and a 52 week high of $26.55. The stock has a market capitalization of $427.65 million, a PE ratio of 17.67 and a beta of 1.27. The company’s 50 day moving average is $13.21 and its 200-day moving average is $14.99.
Zumiez (NASDAQ:ZUMZ) last released its earnings results on Thursday, September 7th. The apparel and footwear maker reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.04. The company had revenue of $192.20 million during the quarter, compared to the consensus estimate of $192.12 million. Zumiez had a return on equity of 7.83% and a net margin of 2.78%. Zumiez’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. Analysts predict that Zumiez will post $1.05 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Disciplined Growth Investors Inc. MN lifted its stake in Zumiez by 0.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 259,975 shares of the apparel and footwear maker’s stock valued at $3,211,000 after buying an additional 1,475 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Zumiez by 12.5% in the second quarter. The Manufacturers Life Insurance Company now owns 16,475 shares of the apparel and footwear maker’s stock valued at $204,000 after buying an additional 1,829 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in Zumiez in the second quarter valued at approximately $215,000. Gotham Asset Management LLC lifted its stake in Zumiez by 98.5% in the second quarter. Gotham Asset Management LLC now owns 24,742 shares of the apparel and footwear maker’s stock valued at $306,000 after buying an additional 12,277 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Zumiez by 56.1% in the second quarter. Goldman Sachs Group Inc. now owns 138,991 shares of the apparel and footwear maker’s stock valued at $1,717,000 after buying an additional 49,967 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.
Zumiez Company Profile
Zumiez Inc, including its subsidiaries, is a specialty retailer of apparel, footwear, accessories and hardgoods for young men and women through the fashion, music, art and culture of action sports, streetwear and other lifestyles. The Company operates under the names Zumiez, Blue Tomato and Fast Times.
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