Zumiez Inc. (ZUMZ) Upgraded to “Hold” at BidaskClub
Zumiez Inc. (NASDAQ:ZUMZ) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday.
A number of other research firms have also recently issued reports on ZUMZ. BMO Capital Markets set a $16.00 price objective on Zumiez and gave the stock a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded Zumiez from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 1st. Jefferies Group LLC set a $15.00 price objective on Zumiez and gave the stock a “hold” rating in a report on Thursday, July 6th. Finally, ValuEngine cut Zumiez from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.85.
Shares of Zumiez (NASDAQ ZUMZ) traded up 2.31% on Friday, reaching $13.30. The company had a trading volume of 290,460 shares. Zumiez has a 52-week low of $11.43 and a 52-week high of $26.55. The firm has a market capitalization of $335.12 million, a price-to-earnings ratio of 14.01 and a beta of 1.22. The company’s 50-day moving average price is $12.44 and its 200-day moving average price is $15.62.
Zumiez (NASDAQ:ZUMZ) last posted its earnings results on Thursday, June 1st. The apparel and footwear maker reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. Zumiez had a return on equity of 7.98% and a net margin of 2.79%. The business had revenue of $181.20 million during the quarter, compared to analysts’ expectations of $179.35 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Zumiez will post $0.94 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Zumiez by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,136,908 shares of the apparel and footwear maker’s stock worth $26,391,000 after buying an additional 39,438 shares during the last quarter. Vanguard Group Inc. raised its position in Zumiez by 7.4% in the second quarter. Vanguard Group Inc. now owns 1,776,196 shares of the apparel and footwear maker’s stock worth $21,936,000 after buying an additional 123,142 shares during the last quarter. Hood River Capital Management LLC raised its position in Zumiez by 107.8% in the first quarter. Hood River Capital Management LLC now owns 743,383 shares of the apparel and footwear maker’s stock worth $13,604,000 after buying an additional 385,587 shares during the last quarter. Numeric Investors LLC acquired a new position in Zumiez during the second quarter worth approximately $7,672,000. Finally, FMR LLC raised its position in Zumiez by 6.5% in the second quarter. FMR LLC now owns 595,966 shares of the apparel and footwear maker’s stock worth $7,361,000 after buying an additional 36,144 shares during the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.
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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