Zumiez (NASDAQ:ZUMZ) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Zumiez (NASDAQ:ZUMZ) from a sell rating to a hold rating in a report published on Friday.

Separately, B. Riley dropped their target price on shares of Zumiez from $19.00 to $16.00 and set a neutral rating on the stock in a research note on Wednesday, March 20th.

Zumiez Trading Down 2.4 %

Shares of NASDAQ:ZUMZ opened at $14.29 on Friday. The stock has a fifty day simple moving average of $16.00 and a two-hundred day simple moving average of $17.30. Zumiez has a 12-month low of $12.90 and a 12-month high of $21.49. The stock has a market capitalization of $283.37 million, a price-to-earnings ratio of -4.40 and a beta of 1.46.

Zumiez (NASDAQ:ZUMZ) last posted its quarterly earnings results on Thursday, March 14th. The apparel and footwear maker reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.14. The firm had revenue of $281.82 million during the quarter, compared to analyst estimates of $275.98 million. Zumiez had a negative return on equity of 5.70% and a negative net margin of 7.15%. As a group, equities research analysts predict that Zumiez will post -0.17 EPS for the current year.

Insiders Place Their Bets

In other Zumiez news, insider Adam Christopher Ellis purchased 10,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were purchased at an average cost of $14.31 per share, with a total value of $143,100.00. Following the completion of the acquisition, the insider now directly owns 57,917 shares in the company, valued at approximately $828,792.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 20.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in Zumiez by 4.1% in the second quarter. Envestnet Asset Management Inc. now owns 13,475 shares of the apparel and footwear maker’s stock worth $350,000 after acquiring an additional 528 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Zumiez by 1.6% in the 4th quarter. Legal & General Group Plc now owns 37,923 shares of the apparel and footwear maker’s stock worth $824,000 after purchasing an additional 590 shares during the period. Hsbc Holdings PLC increased its position in shares of Zumiez by 3.6% during the 4th quarter. Hsbc Holdings PLC now owns 17,608 shares of the apparel and footwear maker’s stock valued at $357,000 after purchasing an additional 615 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Zumiez by 19.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,100 shares of the apparel and footwear maker’s stock valued at $73,000 after buying an additional 658 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Zumiez by 4.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,838 shares of the apparel and footwear maker’s stock valued at $643,000 after buying an additional 672 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

About Zumiez

Zumiez Inc operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. The company provides hardgoods, including skateboards, snowboards, bindings, components, and other equipment. It operates stores in the United States, Canada, Europe, and Australia under the names of Zumiez, Blue Tomato, and Fast Times.