Zumiez (NASDAQ:ZUMZ) Downgraded to Hold at BidaskClub
Several other analysts also recently weighed in on ZUMZ. DA Davidson restated a “positive” rating and issued a $33.00 price objective on shares of Zumiez in a report on Friday, December 6th. Robert W. Baird increased their target price on shares of Zumiez from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Pivotal Research reissued a “hold” rating and set a $32.00 target price on shares of Zumiez in a research report on Tuesday, December 3rd. ValuEngine lowered shares of Zumiez from a “sell” rating to a “strong sell” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group upped their price target on shares of Zumiez from $34.00 to $38.00 and gave the stock a “positive” rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Zumiez presently has a consensus rating of “Hold” and a consensus target price of $33.43.
ZUMZ traded up $0.42 during trading on Tuesday, hitting $34.33. 9,181 shares of the stock were exchanged, compared to its average volume of 391,637. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.16 and a current ratio of 2.20. The firm has a 50 day simple moving average of $32.79 and a 200 day simple moving average of $29.30. The firm has a market cap of $892.52 million, a price-to-earnings ratio of 19.17, a P/E/G ratio of 1.15 and a beta of 1.49. Zumiez has a 1 year low of $18.38 and a 1 year high of $35.68.
In related news, Director Sarah Gaines Mccoy sold 4,037 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $34.89, for a total transaction of $140,850.93. Following the sale, the director now owns 29,822 shares of the company’s stock, valued at $1,040,489.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris K. Visser sold 4,095 shares of Zumiez stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $34.00, for a total value of $139,230.00. The disclosure for this sale can be found here. Insiders sold a total of 174,231 shares of company stock worth $5,603,473 over the last quarter. Company insiders own 23.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Maverick Capital Ltd. lifted its position in shares of Zumiez by 44.6% during the third quarter. Maverick Capital Ltd. now owns 520,932 shares of the apparel and footwear maker’s stock valued at $16,501,000 after buying an additional 160,682 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Zumiez by 29.1% in the 3rd quarter. Millennium Management LLC now owns 117,810 shares of the apparel and footwear maker’s stock valued at $3,731,000 after buying an additional 26,528 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Zumiez by 39.6% in the 3rd quarter. Squarepoint Ops LLC now owns 142,547 shares of the apparel and footwear maker’s stock worth $4,515,000 after buying an additional 40,427 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Zumiez in the 3rd quarter worth approximately $1,203,000. Finally, Penserra Capital Management LLC bought a new position in shares of Zumiez during the 3rd quarter worth approximately $265,000. Institutional investors and hedge funds own 85.95% of the company’s stock.
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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