Zumiez (NASDAQ:ZUMZ) Reaches New 52-Week High Following Earnings Beat

Zumiez Inc. (NASDAQ:ZUMZ) reached a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $30.81 and last traded at $30.32, with a volume of 23398 shares trading hands. The stock had previously closed at $25.67.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Zumiez

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZUMZ. Acadian Asset Management LLC raised its holdings in shares of Zumiez by 225.2% during the 2nd 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 grew its position in Zumiez by 261.0% in the second quarter. AQR Capital Management LLC now owns 148,095 shares of the apparel and footwear maker’s stock valued at $2,885,000 after acquiring an additional 107,073 shares during the last quarter. Marshall Wace LLP raised its stake 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 worth $2,353,000 after acquiring an additional 104,514 shares in the last quarter. Bank of Montreal Can acquired a new position in Zumiez during the second quarter worth about $1,979,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of 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 worth $2,378,000 after acquiring an additional 75,717 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

Zumiez Trading Up 4.0 %

The business’s 50 day moving average price is $24.31 and its two-hundred day moving average price is $19.48. The company has a market capitalization of $541.01 million, a price-to-earnings 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.