Zumiez (ZUMZ) Cut to “Sell” at BidaskClub

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BidaskClub cut shares of Zumiez (NASDAQ:ZUMZ) from a hold rating to a sell rating in a report issued on Friday morning.

Other equities analysts also recently issued research reports about the company. TheStreet upgraded Zumiez from a c+ rating to a b rating in a research note on Friday, September 7th. Pivotal Research restated a buy rating and issued a $30.00 target price on shares of Zumiez in a research note on Thursday, October 11th. B. Riley boosted their target price on Zumiez from $32.00 to $34.00 and gave the stock a buy rating in a research note on Friday, September 7th. ValuEngine upgraded Zumiez from a hold rating to a buy rating in a research note on Friday, August 10th. Finally, Robert W. Baird restated a hold rating and issued a $28.00 target price on shares of Zumiez in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $26.13.

ZUMZ stock opened at $21.35 on Friday. The stock has a market cap of $544.83 million, a price-to-earnings ratio of 15.58, a P/E/G ratio of 0.84 and a beta of 1.20. Zumiez has a 52-week low of $16.90 and a 52-week high of $32.70.

Zumiez (NASDAQ:ZUMZ) last released its quarterly earnings results on Thursday, September 6th. The apparel and footwear maker reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Zumiez had a return on equity of 9.82% and a net margin of 3.43%. The business had revenue of $219.00 million during the quarter, compared to the consensus estimate of $218.50 million. During the same quarter in the previous year, the business earned ($0.02) EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts expect that Zumiez will post 1.69 earnings per share for the current fiscal year.

In other news, CEO Richard Miles Brooks sold 45,827 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $30.01, for a total value of $1,375,268.27. Following the transaction, the chief executive officer now owns 3,199,509 shares in the company, valued at approximately $96,017,265.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris K. Visser sold 1,934 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $28.08, for a total value of $54,306.72. The disclosure for this sale can be found here. Insiders sold a total of 124,344 shares of company stock worth $3,788,085 in the last 90 days. Company insiders own 27.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in Zumiez by 2.5% in the first quarter. Principal Financial Group Inc. now owns 139,345 shares of the apparel and footwear maker’s stock valued at $3,330,000 after purchasing an additional 3,407 shares during the last quarter. Cambria Investment Management L.P. purchased a new position in Zumiez in the second quarter valued at approximately $262,000. Sun Life Financial INC purchased a new position in Zumiez in the second quarter valued at approximately $110,000. Renaissance Technologies LLC lifted its stake in Zumiez by 91.2% in the second quarter. Renaissance Technologies LLC now owns 465,900 shares of the apparel and footwear maker’s stock valued at $11,671,000 after purchasing an additional 222,200 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Zumiez by 10.5% in the first quarter. BlackRock Inc. now owns 2,894,789 shares of the apparel and footwear maker’s stock valued at $69,186,000 after purchasing an additional 274,813 shares during the last quarter. Institutional investors and hedge funds own 75.76% 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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Analyst Recommendations for Zumiez (NASDAQ:ZUMZ)

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