B. Riley Raises Zumiez (NASDAQ:ZUMZ) Price Target to $37.00

Zumiez (NASDAQ:ZUMZ) had its price objective hoisted by B. Riley from $32.00 to $37.00 in a research note published on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the apparel and footwear maker’s stock. B. Riley also issued estimates for Zumiez’s Q4 2020 earnings at $1.26 EPS and FY2020 earnings at $2.40 EPS.

Several other research firms have also weighed in on ZUMZ. Robert W. Baird lifted their target price on shares of Zumiez from $33.00 to $35.00 and gave the company a neutral rating in a report on Friday. Jefferies Financial Group increased their price target on shares of Zumiez from $34.00 to $38.00 and gave the stock a positive rating in a report on Tuesday, November 26th. TheStreet upgraded shares of Zumiez from a c+ rating to a b rating in a research report on Thursday, September 5th. ValuEngine upgraded shares of Zumiez from a strong sell rating to a sell rating in a research report on Tuesday, December 3rd. Finally, Pivotal Research reiterated a hold rating and set a $32.00 price target on shares of Zumiez in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Zumiez has an average rating of Hold and an average price target of $32.14.

NASDAQ:ZUMZ opened at $35.47 on Friday. The firm has a market capitalization of $787.34 million, a P/E ratio of 19.82, a PEG ratio of 1.19 and a beta of 1.44. The company’s fifty day moving average price is $31.18 and its 200-day moving average price is $27.11. Zumiez has a 1-year low of $17.57 and a 1-year high of $35.68. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.06 and a quick ratio of 1.23.

Zumiez (NASDAQ:ZUMZ) last issued its quarterly earnings data on Thursday, December 5th. The apparel and footwear maker reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.15. The business had revenue of $264.02 million during the quarter, compared to analysts’ expectations of $260.86 million. Zumiez had a return on equity of 14.67% and a net margin of 5.80%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. Equities analysts anticipate that Zumiez will post 2.43 EPS for the current fiscal year.

In other Zumiez news, Director Thomas D. Campion sold 1,200 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $32.00, for a total value of $38,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Christopher Ellis sold 8,315 shares of Zumiez stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $32.51, for a total value of $270,320.65. The disclosure for this sale can be found here. Insiders sold 95,610 shares of company stock worth $2,909,391 over the last ninety days. Corporate insiders own 23.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of ZUMZ. Maverick Capital Ltd. increased its holdings in Zumiez by 44.6% in the 3rd quarter. Maverick Capital Ltd. now owns 520,932 shares of the apparel and footwear maker’s stock valued at $16,501,000 after purchasing an additional 160,682 shares during the last quarter. Millennium Management LLC increased its stake in Zumiez by 29.1% during the 3rd quarter. Millennium Management LLC now owns 117,810 shares of the apparel and footwear maker’s stock worth $3,731,000 after buying an additional 26,528 shares during the period. Squarepoint Ops LLC boosted its position in Zumiez by 39.6% in the 3rd quarter. Squarepoint Ops LLC now owns 142,547 shares of the apparel and footwear maker’s stock valued at $4,515,000 after buying an additional 40,427 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Zumiez during the third quarter worth $1,203,000. Finally, Penserra Capital Management LLC acquired a new stake in shares of Zumiez in the third quarter valued at $265,000. 86.17% of the stock is currently owned by institutional investors.

Zumiez Company Profile

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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Analyst Recommendations for Zumiez (NASDAQ:ZUMZ)

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