Zumiez Inc. (ZUMZ) Raised to “Hold” at Zacks Investment Research

Zumiez Inc. (NASDAQ:ZUMZ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, May 12th.

According to Zacks, “Zumiez has underperformed the Zacks categorized industry on a year to date basis, owing to a challenging retail landscape. The company is reeling under slow traffic, volatile consumer spending and macroeconomic uncertainty. These factors also led the company to issue a drab outlook for first-quarter fiscal 2017. However, the company reported sixth straight quarter of earnings and sales beat in fourth-quarter fiscal 2016, gaining from its solid omni-channel initiatives, favorable taxes, robust comps and store additions. Further, the company’s strategic initiatives, focus on omni-channel growth, authentic lifestyle positioning and commitment to customer service position it to gain market share in the long term. Estimates have been stable lately ahead of the company’s first quarter earnings release. Nonetheless, stiff competition and the persistence of foreign currency headwinds remain threats for Zumiez.”

A number of other equities research analysts have also recently commented on the stock. B. Riley reiterated a “neutral” rating and issued a $21.50 target price on shares of Zumiez in a research report on Saturday, March 11th. BMO Capital Markets reiterated a “hold” rating and issued a $19.00 target price on shares of Zumiez in a research report on Thursday, April 27th. Wolfe Research reduced their target price on shares of Zumiez from $23.00 to $21.00 and set a “peer perform” rating for the company in a research report on Monday, March 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $19.00 target price on shares of Zumiez in a research report on Friday, May 5th. Finally, Wedbush reiterated a “neutral” rating and issued a $16.00 target price (down from $21.00) on shares of Zumiez in a research report on Friday, March 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Zumiez has an average rating of “Hold” and a consensus target price of $20.50.

Analyst Recommendations for Zumiez (NASDAQ:ZUMZ)

Zumiez (NASDAQ:ZUMZ) traded down 4.20% on Friday, hitting $12.55. 1,249,409 shares of the stock traded hands. The company’s 50 day moving average price is $15.13 and its 200-day moving average price is $18.87. The stock has a market cap of $316.22 million, a price-to-earnings ratio of 13.22 and a beta of 1.23. Zumiez has a 52-week low of $12.43 and a 52-week high of $26.55.

Zumiez (NASDAQ:ZUMZ) last posted its quarterly earnings data on Thursday, June 1st. The apparel and footwear maker reported ($0.18) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. The business had revenue of $181.20 million for the quarter, compared to the consensus estimate of $179.35 million. Zumiez had a net margin of 2.79% and a return on equity of 7.98%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. On average, analysts forecast that Zumiez will post $0.91 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacad Investment Ltd. acquired a new position in Zumiez during the fourth quarter valued at approximately $114,000. First Mercantile Trust Co. raised its position in Zumiez by 44.1% in the first quarter. First Mercantile Trust Co. now owns 8,865 shares of the apparel and footwear maker’s stock valued at $162,000 after buying an additional 2,715 shares during the last quarter. Invictus RG purchased a new position in shares of Zumiez during the first quarter worth about $163,000. Thrivent Financial for Lutherans purchased a new position in shares of Zumiez during the fourth quarter worth about $206,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Zumiez by 4.6% in the first quarter. BNP Paribas Arbitrage SA now owns 10,082 shares of the apparel and footwear maker’s stock worth $185,000 after buying an additional 441 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

About Zumiez

Zumiez Inc, including its subsidiaries, is a specialty retailer of apparel, footwear, accessories and hardgoods for young men and women through the fashion, music, art and culture of action sports, streetwear and other lifestyles. The Company operates under the names Zumiez, Blue Tomato and Fast Times.

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