Zumiez (ZUMZ) Upgraded to “Strong-Buy” by BidaskClub
BidaskClub upgraded shares of Zumiez (NASDAQ:ZUMZ) from a buy rating to a strong-buy rating in a report issued on Thursday morning.
Several other equities research analysts have also issued reports on the company. Pivotal Research assumed coverage on Zumiez in a research note on Monday. They issued a hold rating and a $30.00 price objective for the company. ValuEngine raised Zumiez from a hold rating to a buy rating in a research note on Friday, August 10th. B. Riley set a $32.00 price target on Zumiez and gave the stock a buy rating in a research note on Thursday, August 9th. Robert W. Baird reissued a hold rating and set a $28.00 price target on shares of Zumiez in a research note on Thursday, August 9th. Finally, TheStreet lowered Zumiez from a b- rating to a c+ rating in a research note on Monday, July 16th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $25.86.
ZUMZ traded up $0.25 during midday trading on Thursday, reaching $28.95. The company had a trading volume of 6,710 shares, compared to its average volume of 458,796. The stock has a market cap of $714.43 million, a price-to-earnings ratio of 26.09 and a beta of 1.01. Zumiez has a 1 year low of $11.43 and a 1 year high of $31.55.
In related news, CEO Richard Miles Brooks sold 3,957 shares of the firm’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $27.00, for a total transaction of $106,839.00. Following the completion of the sale, the chief executive officer now directly owns 3,709,067 shares of the company’s stock, valued at approximately $100,144,809. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Zumiez by 3.2% during the 2nd quarter. BlackRock Inc. now owns 2,986,304 shares of the apparel and footwear maker’s stock worth $74,807,000 after purchasing an additional 91,515 shares during the period. Dimensional Fund Advisors LP increased its holdings in Zumiez by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,143,187 shares of the apparel and footwear maker’s stock worth $53,688,000 after purchasing an additional 12,751 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Zumiez by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 558,554 shares of the apparel and footwear maker’s stock worth $13,992,000 after purchasing an additional 5,746 shares during the period. Matarin Capital Management LLC purchased a new position in Zumiez during the 1st quarter worth $12,026,000. Finally, Renaissance Technologies LLC increased its holdings in Zumiez by 91.2% during the 2nd quarter. Renaissance Technologies LLC now owns 465,900 shares of the apparel and footwear maker’s stock worth $11,671,000 after purchasing an additional 222,200 shares during the period. Institutional investors own 75.00% 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 February 3, 2018, the company operated 698 stores, including 607 stores in the United States, 50 stores in Canada, 34 stores in Europe, and 7 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.
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