Pivotal Research reaffirmed their hold rating on shares of Zumiez (NASDAQ:ZUMZ) in a research report sent to investors on Monday, AnalystRatings.com reports. The brokerage currently has a $28.00 price objective on the apparel and footwear maker’s stock.
“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.”,” Pivotal Research’s analyst wrote.
ZUMZ has been the topic of several other research reports. BidaskClub raised shares of Zumiez from a sell rating to a hold rating in a report on Monday, February 25th. Zacks Investment Research lowered shares of Zumiez from a buy rating to a hold rating in a report on Saturday, January 26th. Finally, ValuEngine raised shares of Zumiez from a sell rating to a hold rating in a report on Saturday, March 30th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $25.50.
Zumiez (NASDAQ:ZUMZ) last posted its earnings results on Thursday, March 14th. The apparel and footwear maker reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $304.56 million for the quarter, compared to analyst estimates of $305.55 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts expect that Zumiez will post 1.85 earnings per share for the current year.
In other Zumiez news, Director Scott Andrew Bailey sold 5,986 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $25.94, for a total transaction of $155,276.84. Following the sale, the director now owns 3,189 shares of the company’s stock, valued at approximately $82,722.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 27.70% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Texas Permanent School Fund grew its holdings in Zumiez by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 12,363 shares of the apparel and footwear maker’s stock worth $237,000 after acquiring an additional 481 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Zumiez by 2.1% in the 4th quarter. Legal & General Group Plc now owns 40,656 shares of the apparel and footwear maker’s stock valued at $777,000 after purchasing an additional 841 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Zumiez by 0.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 233,080 shares of the apparel and footwear maker’s stock valued at $6,142,000 after purchasing an additional 1,196 shares during the last quarter. Pearl River Capital LLC bought a new position in shares of Zumiez in the 4th quarter valued at about $31,000. Finally, Arizona State Retirement System boosted its stake in shares of Zumiez by 6.2% in the 4th quarter. Arizona State Retirement System now owns 29,095 shares of the apparel and footwear maker’s stock valued at $558,000 after purchasing an additional 1,701 shares during the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.
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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