Zumiez (NASDAQ:ZUMZ) Downgraded by ValuEngine to Sell

ValuEngine cut shares of Zumiez (NASDAQ:ZUMZ) from a hold rating to a sell rating in a research report report published on Thursday, ValuEngine reports.

A number of other research firms have also recently commented on ZUMZ. Pivotal Research lifted their price objective on Zumiez from $22.00 to $26.00 and gave the stock a hold rating in a research report on Tuesday, September 3rd. Wedbush set a $17.00 price objective on Zumiez and gave the stock a sell rating in a research report on Friday, June 7th. Robert W. Baird set a $33.00 price objective on Zumiez and gave the stock a hold rating in a research report on Friday, September 6th. BidaskClub upgraded Zumiez from a hold rating to a buy rating in a research report on Saturday, August 31st. Finally, TheStreet upgraded Zumiez from a c+ rating to a b rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Zumiez currently has a consensus rating of Hold and a consensus price target of $27.00.

Zumiez stock traded down $0.37 during midday trading on Thursday, reaching $32.44. The company’s stock had a trading volume of 31,454 shares, compared to its average volume of 610,312. Zumiez has a fifty-two week low of $17.57 and a fifty-two week high of $33.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 2.06. The stock’s 50 day simple moving average is $25.17 and its 200 day simple moving average is $24.62. The firm has a market capitalization of $837.58 million, a PE ratio of 18.15, a P/E/G ratio of 1.26 and a beta of 1.54.

Zumiez (NASDAQ:ZUMZ) last released its earnings results on Thursday, September 5th. The apparel and footwear maker reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.17. Zumiez had a return on equity of 13.59% and a net margin of 5.35%. The company had revenue of $228.40 million during the quarter, compared to the consensus estimate of $223.65 million. During the same quarter last year, the company earned $0.17 earnings per share. Zumiez’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts predict that Zumiez will post 2.16 earnings per share for the current year.

In related news, insider Chris K. Visser sold 12,762 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $32.28, for a total transaction of $411,957.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam Christopher Ellis sold 8,315 shares of the business’s stock in a transaction that occurred 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 sold a total of 325,221 shares of company stock worth $10,200,320 over the last ninety days. Corporate insiders own 23.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in Zumiez by 5.9% during the 2nd quarter. BlackRock Inc. now owns 3,136,830 shares of the apparel and footwear maker’s stock worth $81,870,000 after buying an additional 176,084 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $63,874,000 after purchasing an additional 75,460 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Zumiez by 90.7% during the first quarter. JPMorgan Chase & Co. now owns 837,793 shares of the apparel and footwear maker’s stock valued at $20,852,000 after purchasing an additional 398,376 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of 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 valued at $18,675,000 after purchasing an additional 661,135 shares during the last quarter. Finally, Maverick Capital Ltd. raised 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 valued at $9,403,000 after buying an additional 96,730 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

About Zumiez

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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