Zumiez Inc. (NASDAQ:ZUMZ) – Equities research analysts at DA Davidson upped their FY2020 earnings per share estimates for Zumiez in a report released on Monday, September 9th. DA Davidson analyst J. Morris now expects that the apparel and footwear maker will post earnings of $2.18 per share for the year, up from their prior estimate of $1.89. DA Davidson has a “Neutral” rating and a $28.00 price objective on the stock. DA Davidson also issued estimates for Zumiez’s FY2021 earnings at $2.28 EPS.
A number of other research analysts have also issued reports on the company. Wedbush set a $17.00 target price on Zumiez and gave the company a “sell” rating in a report on Friday, June 7th. B. Riley boosted their target price on Zumiez from $28.00 to $32.00 and gave the company a “buy” rating in a report on Friday, September 6th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Thursday. TheStreet raised Zumiez from a “c+” rating to a “b” rating in a report on Thursday, September 5th. Finally, Zacks Investment Research raised Zumiez from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Saturday, May 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.00.
NASDAQ:ZUMZ opened at $32.81 on Wednesday. The firm has a market cap of $850.48 million, a P/E ratio of 18.33, a PEG ratio of 1.14 and a beta of 1.54. The company has a current ratio of 2.06, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock’s 50 day simple moving average is $25.17 and its 200-day simple moving average is $24.62. Zumiez has a 12-month low of $17.57 and a 12-month high of $33.47.
Zumiez (NASDAQ:ZUMZ) last released its earnings results on Thursday, September 5th. The apparel and footwear maker reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.17. The business had revenue of $228.40 million for the quarter, compared to analyst estimates of $223.65 million. Zumiez had a return on equity of 13.59% and a net margin of 5.35%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Zumiez by 5.9% during the second quarter. BlackRock Inc. now owns 3,136,830 shares of the apparel and footwear maker’s stock worth $81,870,000 after acquiring an additional 176,084 shares during the period. Vanguard Group Inc. grew its holdings in Zumiez by 3.2% during the second quarter. Vanguard Group Inc. now owns 2,447,261 shares of the apparel and footwear maker’s stock worth $63,874,000 after acquiring an additional 75,460 shares during the period. JPMorgan Chase & Co. boosted its position in Zumiez by 90.7% during the first quarter. JPMorgan Chase & Co. now owns 837,793 shares of the apparel and footwear maker’s stock worth $20,852,000 after purchasing an additional 398,376 shares in the last quarter. Balyasny Asset Management LLC boosted its position in Zumiez by 1,215.9% during the second quarter. Balyasny Asset Management LLC now owns 715,510 shares of the apparel and footwear maker’s stock worth $18,675,000 after purchasing an additional 661,135 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its position in Zumiez by 36.7% during the second quarter. Maverick Capital Ltd. now owns 360,250 shares of the apparel and footwear maker’s stock worth $9,403,000 after purchasing an additional 96,730 shares in the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Richard Miles Brooks sold 124,144 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.07, for a total transaction of $4,105,442.08. Following the transaction, the chief executive officer now owns 2,893,024 shares of the company’s stock, valued at $95,672,303.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Christopher Ellis sold 8,315 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $32.51, for a total value of $270,320.65. The disclosure for this sale can be found here. Insiders have sold 325,221 shares of company stock worth $10,200,320 in the last ninety days. 23.10% of the stock is currently owned by corporate 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 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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