Zumiez Inc. (NASDAQ:ZUMZ) hit a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $35.25 and last traded at $33.90, with a volume of 858569 shares traded. The stock had previously closed at $29.97.
The apparel and footwear maker reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.15. The business had revenue of $264.02 million during the quarter, compared to analysts’ expectations of $260.86 million. Zumiez had a return on equity of 13.59% and a net margin of 5.35%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share.
Several equities analysts have recently weighed in on the stock. ValuEngine upgraded shares of Zumiez from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 3rd. TheStreet upgraded shares of Zumiez from a “c+” rating to a “b” rating in a report on Thursday, September 5th. Wedbush increased their target price on shares of Zumiez from $17.00 to $25.00 and gave the company an “underperform” rating in a research note on Friday. Jefferies Financial Group raised their target price on shares of Zumiez from $34.00 to $38.00 and gave the stock a “positive” rating in a report on Tuesday, November 26th. Finally, DA Davidson restated a “positive” rating and issued a $33.00 price target on shares of Zumiez in a research report on Friday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Zumiez has a consensus rating of “Hold” and a consensus price target of $32.14.
In related news, CEO Richard Miles Brooks sold 80,000 shares of Zumiez stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $30.00, for a total value of $2,400,000.00. Following the transaction, the chief executive officer now owns 2,653,024 shares of the company’s stock, valued at approximately $79,590,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris K. Visser sold 12,762 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $32.28, for a total value of $411,957.36. The disclosure for this sale can be found here. Insiders sold a total of 232,516 shares of company stock valued at $7,426,790 in the last quarter. 23.10% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ZUMZ. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Zumiez by 46.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,578 shares of the apparel and footwear maker’s stock valued at $50,000 after acquiring an additional 504 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Zumiez in the 2nd quarter valued at approximately $69,000. DekaBank Deutsche Girozentrale acquired a new position in Zumiez in the 2nd quarter worth approximately $71,000. Mason Street Advisors LLC boosted its stake in Zumiez by 8.7% in the 3rd quarter. Mason Street Advisors LLC now owns 6,911 shares of the apparel and footwear maker’s stock worth $219,000 after purchasing an additional 553 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Zumiez in the 3rd quarter worth approximately $226,000. Institutional investors own 86.17% of the company’s stock.
The firm’s 50-day simple moving average is $31.18 and its two-hundred day simple moving average is $27.11. 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 has a market capitalization of $913.85 million, a PE ratio of 19.82, a PEG ratio of 1.14 and a beta of 1.45.
About Zumiez (NASDAQ:ZUMZ)
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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