Zumiez Inc. (ZUMZ) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Zumiez Inc. (NASDAQ:ZUMZ) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $15.00 price target on the apparel and footwear maker’s stock.
According to Zacks, “Zumiez has outperformed the industry in the last three months, mainly backed the favorable comps and sales trend in recent months. Notably, the company delivered comps and sales growth for July, which marked the fifth straight month of comps growth. However, the company continues to battle soft mall traffic, volatile consumer spending and macroeconomic volatility. Further, retail industry is challenged by strong U.S. dollar, volatile commodity costs and global uncertainty. Nevertheless, we commend Zumiez’s efforts to keep pace with the evolving retail trends, as evident from its focus on omni-channel development. This helped Zumiez post seventh straight quarter of earnings surprise in first-quarter fiscal 2017. Also, its strategic initiatives, authentic lifestyle positioning and commitment to customer service position it for market share gains in the long term. Estimates have witnessed positive revisions ahead of the second quarter earnings.”
A number of other analysts have also weighed in on the company. BidaskClub upgraded Zumiez from a sell rating to a hold rating in a report on Friday, August 25th. BMO Capital Markets set a $16.00 target price on Zumiez and gave the company a hold rating in a report on Tuesday, August 8th. Jefferies Group LLC set a $15.00 target price on Zumiez and gave the company a hold rating in a report on Thursday, July 6th. Finally, ValuEngine downgraded Zumiez from a buy rating to a hold rating in a report on Friday, June 2nd. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $20.05.
Zumiez (ZUMZ) opened at 12.75 on Wednesday. Zumiez has a one year low of $11.43 and a one year high of $26.55. The company has a market cap of $321.26 million, a price-to-earnings ratio of 13.44 and a beta of 1.26. The company has a 50-day moving average of $12.53 and a 200-day moving average of $15.29.
Zumiez (NASDAQ:ZUMZ) last released its quarterly earnings data on Thursday, June 1st. The apparel and footwear maker reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.02. The firm had revenue of $181.20 million during the quarter, compared to analyst estimates of $179.35 million. Zumiez had a return on equity of 7.98% and a net margin of 2.79%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Equities research analysts expect that Zumiez will post $0.94 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in ZUMZ. Principal Financial Group Inc. boosted its position in shares of Zumiez by 3.6% in the first quarter. Principal Financial Group Inc. now owns 132,464 shares of the apparel and footwear maker’s stock valued at $2,424,000 after buying an additional 4,655 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Zumiez by 2.5% in the first quarter. Prudential Financial Inc. now owns 58,226 shares of the apparel and footwear maker’s stock valued at $1,066,000 after buying an additional 1,421 shares during the last quarter. Norges Bank purchased a new position in shares of Zumiez during the fourth quarter valued at about $1,616,000. Adams Diversified Equity Fund Inc. boosted its position in shares of Zumiez by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 50,100 shares of the apparel and footwear maker’s stock valued at $917,000 after buying an additional 1,400 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its position in shares of Zumiez by 7.3% in the first quarter. State of Tennessee Treasury Department now owns 16,441 shares of the apparel and footwear maker’s stock valued at $301,000 after buying an additional 1,123 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors.
Zumiez Company Profile
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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