Zumiez (NASDAQ:ZUMZ) announced its quarterly earnings data on Thursday. The apparel and footwear maker reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04, MarketWatch Earnings reports. The business had revenue of $219.00 million for the quarter, compared to analyst estimates of $218.50 million. Zumiez had a net margin of 3.01% and a return on equity of 8.64%. The company’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) EPS. Zumiez updated its Q3 guidance to $0.45 to $0.51 EPS.
NASDAQ ZUMZ traded down $0.95 during mid-day trading on Thursday, hitting $29.15. The company’s stock had a trading volume of 797,400 shares, compared to its average volume of 457,690. Zumiez has a 52-week low of $12.90 and a 52-week high of $32.70. The firm has a market capitalization of $793.39 million, a price-to-earnings ratio of 27.20 and a beta of 1.18.
Several brokerages have recently weighed in on ZUMZ. Pivotal Research upgraded shares of Zumiez from a “hold” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $36.00 in a report on Tuesday. BidaskClub upgraded shares of Zumiez from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 16th. ValuEngine upgraded shares of Zumiez from a “hold” rating to a “buy” rating in a report on Friday, August 10th. B. Riley set a $32.00 price objective on shares of Zumiez and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, Robert W. Baird reiterated a “hold” rating and set a $28.00 price objective on shares of Zumiez in a report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Zumiez has a consensus rating of “Buy” and an average price target of $26.71.
In related news, CFO Christopher Codington Work sold 5,746 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $32.00, for a total value of $183,872.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Miles Brooks sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $31.33, for a total transaction of $1,253,200.00. Following the completion of the transaction, the chief executive officer now owns 3,074,206 shares in the company, valued at approximately $96,314,873.98. The disclosure for this sale can be found here. Insiders sold 619,217 shares of company stock worth $17,491,660 in the last 90 days. 27.70% of the stock is currently owned by insiders.
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 February 3, 2018, the company operated 698 stores, including 607 stores in the United States, 50 stores in Canada, 34 stores in Europe, and 7 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.
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