Piper Jaffray Downgrades Zumiez to Neutral (ZUMZ)
Zumiez (NASDAQ:ZUMZ) was downgraded by stock analysts at Piper Jaffray from an “overweight” rating to a “neutral” rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $31.00 price target on the stock. Piper Jaffray’s price target would indicate a potential downside of 4.35% from the company’s current price.
Zumiez (NASDAQ:ZUMZ) traded down 11.02% during mid-day trading on Friday, hitting $28.84. The stock had a trading volume of 743,373 shares. Zumiez has a one year low of $20.68 and a one year high of $33.64. The stock has a 50-day moving average of $29.8 and a 200-day moving average of $27.00. The company has a market cap of $837.6 million and a P/E ratio of 21.06.
Zumiez (NASDAQ:ZUMZ) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.26 EPS for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.03. The company had revenue of $176.70 million for the quarter. During the same quarter last year, the company posted $0.20 earnings per share. Zumiez’s revenue was up 11.9% compared to the same quarter last year. Analysts expect that Zumiez will post $1.65 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Susquehanna raised their price target on shares of Zumiez from $28.00 to $32.00 in a research note on Friday, August 8th. They now have a “neutral” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Zumiez from $25.00 to $28.00 in a research note on Thursday, July 10th. They now have a “hold” rating on the stock. Finally, analysts at CRT Capital raised their price target on shares of Zumiez from $30.00 to $31.00 in a research note on Thursday, July 10th. They now have a “fair value” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.07.
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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