Zumiez (NASDAQ:ZUMZ)‘s stock had its “hold” rating reissued by equities research analysts at Pivotal Research in a research report issued on Monday, AnalystRatings.com reports. They presently have a $28.00 target price on the apparel and footwear maker’s stock. Pivotal Research’s price objective would indicate a potential upside of 5.34% from the stock’s current price.
The analysts wrote, “We had ZUMZ on the road last week, and the trip reinforced our long-held view that they are a best-in-class retailer. We say this for a handful of key reasons. First, they understand their customer as well as anyone. Second, they merchandise to that customer as well as anyone. Third, their sales associates are as well trained as anyone. Fourth, they are ahead of the curve on contemplating and adjusting to the dynamic retail landscape. Fifth, they are more insulated than most other branded retailers from the mounting secular pressure of vendor-direct sales. That said, we also recognize that, using history as our guide, there are better times than others to buy ZUMZ. Simply put, we believe the stock is best bought when it’s cheap, and we define cheap as trading at an FTM P/E below its TTM average. ZUMZ currently trades at 14.1x, slightly above its TTM average of 13.6x.””
Other research analysts have also issued reports about the stock. ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Zacks Investment Research lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Wednesday, December 26th. Finally, BidaskClub upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.50.
Zumiez (NASDAQ:ZUMZ) last issued its earnings results on Thursday, March 14th. The apparel and footwear maker reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.07. Zumiez had a net margin of 4.62% and a return on equity of 12.24%. The company had revenue of $304.56 million for the quarter, compared to analyst estimates of $305.55 million. During the same period in the prior year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Zumiez will post 1.85 EPS for the current fiscal year.
In other news, Director Scott Andrew Bailey sold 5,986 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $25.94, for a total value of $155,276.84. Following the sale, the director now directly owns 3,189 shares in the company, valued at $82,722.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.70% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in ZUMZ. Pearl River Capital LLC purchased a new position in shares of Zumiez during the fourth quarter valued at approximately $31,000. Pacer Advisors Inc. lifted its stake in shares of Zumiez by 246.0% during the third quarter. Pacer Advisors Inc. now owns 4,637 shares of the apparel and footwear maker’s stock valued at $122,000 after buying an additional 3,297 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in shares of Zumiez by 339.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,388 shares of the apparel and footwear maker’s stock valued at $122,000 after buying an additional 4,933 shares during the period. Oregon Public Employees Retirement Fund purchased a new position in shares of Zumiez during the fourth quarter valued at approximately $138,000. Finally, Bowling Portfolio Management LLC purchased a new position in shares of Zumiez during the first quarter valued at approximately $208,000. Institutional investors and hedge funds own 79.90% of the company’s stock.
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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