Zumiez (NASDAQ:ZUMZ) Releases Earnings Results, Beats Expectations By $0.27 EPS

Zumiez (NASDAQ:ZUMZ) released its quarterly earnings results on Thursday. The apparel and footwear maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.27, FiscalAI reports. Zumiez had a net margin of 0.06% and a return on equity of 0.19%. The firm had revenue of $239.13 million during the quarter, compared to the consensus estimate of $234.66 million.

Zumiez Stock Performance

NASDAQ ZUMZ traded down $0.49 during trading on Thursday, reaching $27.26. 598,298 shares of the company’s stock were exchanged, compared to its average volume of 264,705. Zumiez has a 1 year low of $11.31 and a 1 year high of $28.00. The stock has a market cap of $467.62 million, a P/E ratio of -2,723.28 and a beta of 0.85. The company has a 50 day moving average price of $22.05 and a two-hundred day moving average price of $17.47.

Insider Activity

In other news, insider Chris K. Visser sold 5,618 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $20.09, for a total value of $112,865.62. Following the completion of the sale, the insider directly owned 44,303 shares of the company’s stock, valued at approximately $890,047.27. The trade was a 11.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Liliana Gil Valletta sold 3,655 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $21.30, for a total value of $77,851.50. Following the sale, the director directly owned 7,154 shares of the company’s stock, valued at approximately $152,380.20. This represents a 33.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 21.20% of the company’s stock.

Institutional Investors Weigh In On Zumiez

A number of institutional investors have recently added to or reduced their stakes in the business. Numerai GP LLC raised its position in Zumiez by 134.8% during the third quarter. Numerai GP LLC now owns 24,314 shares of the apparel and footwear maker’s stock worth $477,000 after acquiring an additional 13,958 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Zumiez during the 3rd quarter worth approximately $214,000. Algert Global LLC purchased a new stake in Zumiez in the 3rd quarter valued at approximately $335,000. Mackenzie Financial Corp purchased a new stake in Zumiez in the 3rd quarter valued at approximately $743,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Zumiez during the third quarter worth about $384,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZUMZ. Weiss Ratings reissued a “sell (d+)” rating on shares of Zumiez in a report on Wednesday, October 8th. Zacks Research lowered shares of Zumiez from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. B. Riley lifted their price objective on Zumiez from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Finally, Wall Street Zen raised shares of Zumiez from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $18.00.

Zumiez Company Profile

Zumiez Inc operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. The company provides hardgoods, including skateboards, snowboards, bindings, components, and other equipment. It operates stores in the United States, Canada, Europe, and Australia under the names of Zumiez, Blue Tomato, and Fast Times.