Zumiez (ZUMZ) Downgraded to Sell at ValuEngine

ValuEngine downgraded shares of Zumiez (NASDAQ:ZUMZ) from a hold rating to a sell rating in a research report released on Tuesday.

Several other brokerages have also recently commented on ZUMZ. BidaskClub cut shares of Zumiez from a strong-buy rating to a buy rating in a report on Friday, September 14th. B. Riley set a $34.00 target price on shares of Zumiez and gave the stock a buy rating in a report on Thursday, October 11th. Robert W. Baird restated a hold rating and set a $28.00 target price on shares of Zumiez in a report on Thursday, August 9th. Pivotal Research set a $30.00 target price on shares of Zumiez and gave the stock a buy rating in a report on Thursday, November 8th. Finally, Jefferies Financial Group initiated coverage on shares of Zumiez in a report on Thursday, October 25th. They set a buy rating and a $28.00 target price for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $26.88.

Shares of ZUMZ stock opened at $19.67 on Tuesday. Zumiez has a 12-month low of $18.25 and a 12-month high of $32.70. The firm has a market cap of $488.69 million, a PE ratio of 17.88, a P/E/G ratio of 0.91 and a beta of 1.23.

Zumiez (NASDAQ:ZUMZ) last issued its quarterly earnings data on Thursday, September 6th. The apparel and footwear maker reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. Zumiez had a net margin of 3.43% and a return on equity of 9.82%. The company had revenue of $219.00 million during the quarter, compared to the consensus estimate of $218.50 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. On average, research analysts expect that Zumiez will post 1.69 EPS for the current fiscal year.

In other Zumiez news, Director Travis Smith sold 3,193 shares of the stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $28.85, for a total value of $92,118.05. Following the completion of the sale, the director now owns 17,770 shares in the company, valued at $512,664.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris K. Visser sold 1,934 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $28.08, for a total transaction of $54,306.72. The disclosure for this sale can be found here. Insiders have sold 75,117 shares of company stock valued at $2,310,817 in the last 90 days. 27.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Zumiez by 3.2% in the second quarter. BlackRock Inc. now owns 2,986,304 shares of the apparel and footwear maker’s stock valued at $74,807,000 after acquiring an additional 91,515 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Zumiez by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,143,187 shares of the apparel and footwear maker’s stock valued at $53,688,000 after acquiring an additional 12,751 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Zumiez by 53.3% in the third quarter. Renaissance Technologies LLC now owns 714,400 shares of the apparel and footwear maker’s stock valued at $18,824,000 after acquiring an additional 248,500 shares during the last quarter. Matarin Capital Management LLC acquired a new stake in Zumiez in the third quarter valued at $14,910,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Zumiez by 1.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 558,554 shares of the apparel and footwear maker’s stock valued at $13,992,000 after acquiring an additional 5,746 shares during the last quarter. Hedge funds and other institutional investors own 78.25% of the company’s stock.

Zumiez Company Profile

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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