Zumiez Receives Neutral Rating from Zacks (ZUMZ)
Zumiez (NASDAQ:ZUMZ)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Wednesday. They currently have a $29.00 price target on the stock. Zacks‘s target price points to a potential upside of 6.30% from the stock’s previous close.
Zacks’ analyst wrote, “Zumiez posted better-than-expected first-quarter fiscal 2014 bottom-line results that was double the Zacks Consensus Estimate. The results gained from strong top line growth benefiting from the company’s successful execution of long-term growth strategies and the strength of its distinguished and varied assortments. Furthermore, we remain encouraged by the company’s May comps performance. Going forward, we believe that Zumiez’s store expansion policy, along with improvement of its omni-channel capabilities will help boost the company’s top and bottom lines. However, we are not very constructive on the stock due to intense competition from rival specialty retailers, the seasonal nature of the business and risks related to sourcing merchandise from foreign countries, which may undermine the company’s results. Thus, we retain our long-term Neutral recommendation on the stock.”
In other Zumiez news, VP Ford Wright sold 5,000 shares of Zumiez stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $26.70, for a total value of $133,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on ZUMZ. Analysts at Topeka Capital Markets reiterated a “buy” rating on shares of Zumiez in a research note on Thursday, June 5th. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Zumiez in a research note on Friday, May 23rd. They now have a $32.00 price target on the stock, up previously from $31.00. Finally, analysts at Bank of America reiterated a “buy” rating on shares of Zumiez in a research note on Friday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Zumiez has a consensus rating of “Buy” and a consensus target price of $28.93.
Shares of Zumiez (NASDAQ:ZUMZ) traded down 0.62% on Wednesday, hitting $27.11. The stock had a trading volume of 83,640 shares. Zumiez has a 1-year low of $20.68 and a 1-year high of $31.31. The stock has a 50-day moving average of $27.78 and a 200-day moving average of $24.98. The company has a market cap of $787.3 million and a price-to-earnings ratio of 17.73.
Zumiez (NASDAQ:ZUMZ) last released its earnings data on Thursday, May 22nd. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.04. The company had revenue of $162.90 million for the quarter, compared to the consensus estimate of $159.21 million. During the same quarter last year, the company posted $0.13 earnings per share. Zumiez’s revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that Zumiez will post $1.60 earnings per share for the current fiscal year.
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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