Zumiez (NASDAQ:ZUMZ) Reaches New 1-Year High Following Better-Than-Expected Earnings

Zumiez Inc. (NASDAQ:ZUMZ) shares reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $30.81 and last traded at $30.32, with a volume of 23398 shares. The stock had previously closed at $25.67.

The apparel and footwear maker reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.29. Zumiez had a negative net margin of 7.01% and a negative return on equity of 5.47%. The firm had revenue of $210.18 million for the quarter, compared to analyst estimates of $201.93 million. During the same period last year, the firm earned ($0.44) earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year.

Analysts Set New Price Targets

Several research firms recently commented on ZUMZ. B. Riley raised their price objective on shares of Zumiez from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday. Jefferies Financial Group increased their price target on shares of Zumiez from $14.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, June 7th.

Hedge Funds Weigh In On Zumiez

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in shares of Zumiez by 225.2% in the second quarter. Acadian Asset Management LLC now owns 213,722 shares of the apparel and footwear maker’s stock worth $4,161,000 after buying an additional 147,996 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Zumiez by 261.0% during the 2nd quarter. AQR Capital Management LLC now owns 148,095 shares of the apparel and footwear maker’s stock valued at $2,885,000 after buying an additional 107,073 shares during the period. Marshall Wace LLP increased its position in Zumiez by 641.2% during the second quarter. Marshall Wace LLP now owns 120,814 shares of the apparel and footwear maker’s stock valued at $2,353,000 after acquiring an additional 104,514 shares during the last quarter. Bank of Montreal Can purchased a new stake in Zumiez during the second quarter valued at $1,979,000. Finally, GSA Capital Partners LLP lifted its holdings in Zumiez by 183.8% in the fourth quarter. GSA Capital Partners LLP now owns 116,914 shares of the apparel and footwear maker’s stock valued at $2,378,000 after acquiring an additional 75,717 shares during the period. Institutional investors own 95.45% of the company’s stock.

Zumiez Price Performance

The firm has a 50-day simple moving average of $24.31 and a 200-day simple moving average of $19.47. The firm has a market capitalization of $541.01 million, a PE ratio of -8.47 and a beta of 1.25.

Zumiez Company Profile

Zumiez Inc operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. The company provides hardgoods, including skateboards, snowboards, bindings, components, and other equipment. It operates stores in the United States, Canada, Europe, and Australia under the names of Zumiez, Blue Tomato, and Fast Times.