Convergence Investment Partners LLC Takes Position in Zumiez Inc. (ZUMZ)
Convergence Investment Partners LLC purchased a new position in shares of Zumiez Inc. (NASDAQ:ZUMZ) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 31,047 shares of the apparel and footwear maker’s stock, valued at approximately $778,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wasatch Advisors Inc. boosted its position in shares of Zumiez by 6.3% during the 1st quarter. Wasatch Advisors Inc. now owns 47,783 shares of the apparel and footwear maker’s stock worth $1,142,000 after acquiring an additional 2,836 shares in the last quarter. SG Americas Securities LLC boosted its position in Zumiez by 16.8% in the first quarter. SG Americas Securities LLC now owns 21,575 shares of the apparel and footwear maker’s stock valued at $516,000 after buying an additional 3,109 shares in the last quarter. Principal Financial Group Inc. boosted its position in Zumiez by 2.5% in the first quarter. Principal Financial Group Inc. now owns 139,345 shares of the apparel and footwear maker’s stock valued at $3,330,000 after buying an additional 3,407 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Zumiez in the second quarter valued at approximately $107,000. Finally, Geode Capital Management LLC boosted its position in Zumiez by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 167,142 shares of the apparel and footwear maker’s stock valued at $3,480,000 after buying an additional 4,885 shares in the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.
A number of brokerages have weighed in on ZUMZ. BidaskClub upgraded shares of Zumiez from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Pivotal Research began coverage on shares of Zumiez in a research report on Monday, August 13th. They issued a “hold” rating and a $30.00 target price on the stock. ValuEngine upgraded shares of Zumiez from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. B. Riley set a $32.00 target price on shares of Zumiez and gave the company a “buy” rating in a research report on Thursday, August 9th. Finally, Robert W. Baird restated a “hold” rating and issued a $28.00 target price on shares of Zumiez in a research report on Thursday, August 9th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $25.86.
Shares of Zumiez stock opened at $29.15 on Friday. Zumiez Inc. has a fifty-two week low of $11.43 and a fifty-two week high of $31.55. The company has a market capitalization of $714.43 million, a price-to-earnings ratio of 26.50 and a beta of 1.01.
Zumiez (NASDAQ:ZUMZ) last released its quarterly earnings results on Thursday, June 7th. The apparel and footwear maker reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The firm had revenue of $206.29 million during the quarter, compared to the consensus estimate of $199.34 million. Zumiez had a net margin of 3.01% and a return on equity of 8.64%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) earnings per share. equities research analysts expect that Zumiez Inc. will post 1.68 EPS for the current fiscal year.
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 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.
Further Reading: Understanding Average Daily Trade Volume
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