Zumiez Given “Neutral” Rating at Zacks (ZUMZ)
Zumiez (NASDAQ:ZUMZ)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Friday, AnalystRatings.Net reports. They currently have a $29.00 price objective on the stock. Zacks‘ price target would suggest a potential upside of 5.65% from the stock’s previous close.
Zacks‘ analyst wrote, “Building on its long-term growth strategies and strength in assortments, Zumiez beat earnings expectations in second-quarter fiscal 2013, marking its 19th consecutive quarterly beat. Going forward, we believe that Zumiez’s store expansion policy and enhancement of e-Commerce will help boost the company’s top and bottom lines. We also remain impressed with the Blue Tomato acquisition, which has provided the company a solid platform to capitalize on emerging opportunities. However, we are skeptical about the company’s future comps performance, due to the fall in comparable store transactions in recent times. Further, we believe that intense competition from rival specialty retailers, the seasonal nature of the business and risks associated with sourcing merchandise from foreign countries may undermine the company’s results. Hence, our long-term Neutral recommendation on the stock remains in place.”
Shares of Zumiez (NASDAQ:ZUMZ) traded up 0.87% during mid-day trading on Friday, hitting $27.69. The stock had a trading volume of 68,698 shares. Zumiez has a 1-year low of $17.93 and a 1-year high of $33.50. The stock’s 50-day moving average is $27.41 and its 200-day moving average is $27.74. The company has a market cap of $837.6 million and a price-to-earnings ratio of 19.64.
Zumiez (NASDAQ:ZUMZ) last released its earnings data on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.01. The company had revenue of $157.90 million for the quarter, compared to the consensus estimate of $157.81 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. Analysts expect that Zumiez will post $1.59 EPS for the current fiscal year.
A number of other firms have also recently commented on ZUMZ. Analysts at Susquehanna cut their price target on shares of Zumiez (NASDAQ:ZUMZ) from $33.00 to $31.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Wedbush cut their price target on shares of Zumiez (NASDAQ:ZUMZ) from $36.00 to $28.00 in a research note to investors on Friday, September 6th. They now have an “outperform” rating on the stock. Finally, analysts at Roth Capital cut their price target on shares of Zumiez (NASDAQ:ZUMZ) from $32.00 to $30.00 in a research note to investors on Friday, September 6th. They now have a “buy” rating on the stock.
Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $29.64.
Zumiez Inc (NASDAQ:ZUMZ) is a specialty retailer of action sports related apparel, footwear, equipment and accessories operating under the Zumiez brand name.
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