Quiksilver CFO Buys $338,000 in Stock (ZQK)
Quiksilver (NYSE:ZQK) CFO Richard J. Shields purchased 100,000 shares of Quiksilver stock on the open market in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $3.38 per share, with a total value of $338,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 800,000 shares in the company, valued at approximately $2,704,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Quiksilver (NYSE:ZQK) traded up 11.64% on Friday, hitting $3.74. 8,764,750 shares of the company’s stock traded hands. Quiksilver has a one year low of $3.13 and a one year high of $9.29. The stock has a 50-day moving average of $6.06 and a 200-day moving average of $7.39. The company’s market cap is $634.9 million. Quiksilver also was the recipient of some unusual options trading activity on Tuesday. Investors bought 15,666 call options on the company. This represents an increase of approximately 1,353% compared to the average daily volume of 1,078 call options.
Quiksilver (NYSE:ZQK) last posted its quarterly earnings results on Monday, June 2nd. The company reported ($0.15) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.02) by $0.13. The company had revenue of $408.00 million for the quarter, compared to the consensus estimate of $448.60 million. During the same quarter last year, the company posted ($0.12) earnings per share. Quiksilver’s revenue was down 10.5% compared to the same quarter last year. Analysts expect that Quiksilver will post $-0.14 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at DA Davidson cut their price target on shares of Quiksilver from $10.00 to $5.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Stifel downgraded shares of Quiksilver from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, analysts at Zacks downgraded shares of Quiksilver from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $5.50 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Quiksilver presently has an average rating of “Hold” and an average price target of $7.36.
Quiksilver, Inc is a diversified company that designs, develops and distributes branded apparel, footwear, accessories and related products, catering to the casual, youth lifestyle associated with the sports of surfing, skateboarding and snowboarding.
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