Zacks Investment Research cut shares of Zumiez (NASDAQ:ZUMZ) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Zumiez has outperformed the industry in the past six months, owing to robust top and bottom line surprise trends, alongside solid comps performance in recent months. Though the company posted in line earnings in third-quarter fiscal 2017, it delivered positive earnings surprise for the preceding eight quarters. Moreover, sales topped estimates for the sixth straight quarter. Further, it delivered fifth straight quarter of positive comps in the third quarter. The company’s favorable comps trend continued in January as well. Backed by higher-than-anticipated sales in January, the company now expects earnings per share for the fourth quarter at the higher-end of its previous guidance of 88-90 cents. However, the company continues to be troubled by a tough retail environment, characterized by sluggish mall traffic and macroeconomic uncertainty. Estimates have been going up ahead of the fourth quarter earnings release.”
Other analysts have also issued reports about the stock. William Blair restated a buy rating on shares of Zumiez in a research note on Thursday, January 4th. B. Riley set a $25.50 target price on shares of Zumiez and gave the stock a buy rating in a research note on Thursday, January 4th. BidaskClub lowered shares of Zumiez from a buy rating to a hold rating in a research note on Friday, February 2nd. Jefferies Group set a $22.00 price target on shares of Zumiez and gave the company a hold rating in a research note on Thursday, January 4th. Finally, BMO Capital Markets set a $20.00 price target on shares of Zumiez and gave the company a hold rating in a research note on Friday, December 1st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $21.33.
Institutional investors have recently made changes to their positions in the business. Spark Investment Management LLC purchased a new position in shares of Zumiez during the fourth quarter worth approximately $8,684,000. Thrivent Financial For Lutherans grew its position in shares of Zumiez by 3,544.2% during the fourth quarter. Thrivent Financial For Lutherans now owns 404,143 shares of the apparel and footwear maker’s stock worth $8,416,000 after acquiring an additional 393,053 shares during the last quarter. BlackRock Inc. grew its position in shares of Zumiez by 11.5% during the fourth quarter. BlackRock Inc. now owns 2,619,976 shares of the apparel and footwear maker’s stock worth $54,562,000 after acquiring an additional 269,913 shares during the last quarter. Divisar Capital Management LLC purchased a new position in shares of Zumiez during the fourth quarter worth approximately $5,415,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Zumiez during the third quarter worth approximately $3,193,000. Institutional investors own 71.62% of the company’s stock.
Zumiez Company Profile
Zumiez Inc, including its subsidiaries, is a specialty retailer of apparel, footwear, accessories and hardgoods for young men and women through the fashion, music, art and culture of action sports, streetwear and other lifestyles. The Company operates under the names Zumiez, Blue Tomato and Fast Times.
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