BidaskClub Lowers Zumiez (NASDAQ:ZUMZ) to Buy

Zumiez (NASDAQ:ZUMZ) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Friday, September 20th, BidAskClub reports.

ZUMZ has been the subject of a number of other reports. DA Davidson increased their price target on Zumiez to $28.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. B. Riley increased their price target on Zumiez from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Pivotal Research raised their price objective on Zumiez from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Thursday, September 12th. Finally, Robert W. Baird set a $33.00 price objective on Zumiez and gave the company a “hold” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Zumiez presently has an average rating of “Hold” and a consensus target price of $27.00.

ZUMZ stock opened at $30.07 on Friday. The company has a market cap of $783.99 million, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.54. The business has a 50-day simple moving average of $27.28 and a 200 day simple moving average of $25.10. Zumiez has a 52 week low of $17.57 and a 52 week high of $33.47. The company has a quick ratio of 1.23, a current ratio of 2.06 and a debt-to-equity ratio of 0.73.

Zumiez (NASDAQ:ZUMZ) last released its earnings results on Thursday, September 5th. The apparel and footwear maker reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.17. Zumiez had a return on equity of 13.59% and a net margin of 5.35%. The business had revenue of $228.40 million for the quarter, compared to the consensus estimate of $223.65 million. During the same period in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts anticipate that Zumiez will post 2.16 EPS for the current fiscal year.

In other news, CEO Richard Miles Brooks sold 180,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $30.07, for a total value of $5,412,600.00. Following the sale, the chief executive officer now directly owns 2,893,024 shares in the company, valued at $86,993,231.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Adam Christopher Ellis sold 8,315 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $32.51, for a total value of $270,320.65. The disclosure for this sale can be found here. Insiders sold a total of 326,421 shares of company stock valued at $10,238,720 over the last ninety days. Corporate insiders own 23.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Zumiez in the second quarter worth approximately $69,000. DekaBank Deutsche Girozentrale purchased a new position in Zumiez during the 2nd quarter worth $71,000. BNP Paribas Arbitrage SA increased its holdings in Zumiez by 853.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,310 shares of the apparel and footwear maker’s stock worth $107,000 after purchasing an additional 3,858 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Zumiez by 501.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,625 shares of the apparel and footwear maker’s stock worth $251,000 after purchasing an additional 8,025 shares during the period. Finally, CIBC World Markets Inc. purchased a new position in Zumiez during the 1st quarter worth $260,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

About Zumiez

Zumiez Inc, together with its subsidiaries, operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. Its hardgoods include skateboards, snowboards, bindings, components, and other equipment. As of September 1, 2018, the company operated 703 stores, including 610 stores in the United States, 50 stores in Canada, 36 stores in Europe, and 7 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.

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Analyst Recommendations for Zumiez (NASDAQ:ZUMZ)

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