Zumiez Inc (ZUMZ) Gets a Hold Rating from Pivotal Research


In a report released today, Mitch Kummetz from Pivotal Research reiterated a Hold rating on Zumiez Inc (ZUMZ), with a price target of $22. The company’s shares closed yesterday at $18.67, close to its 52-week low of $17.57.

Kummetz wrote:

“We don’t know if apparel will continue to comp negatively, but we do know that, for the balance of FY19, ZUMZ is lapping three years of positive apparel comps. In short, while we’re surprised that ZUMZ didn’t raise its FY19 guidance on the 1Q beat, we can see why the company has taken a somewhat conservative stance, given the background we just outlined. On these strong 1Q results, ZUMZ’s shares popped in after-hours trading, and understandably so, given the pressure they have been under. But, in a word, we’re conflicted, which makes it difficult to become more constructive. We’re conflicted because, while the stock seems cheap on its face, it’s not cheap relative to its peer group, which is a group very much out of favor.”

According to TipRanks.com, Kummetz is a 3-star analyst with an average return of 0.8% and a 54.4% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.

Zumiez Inc has an analyst consensus of Hold, with a price target consensus of $23.67.

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Based on Zumiez Inc’s latest earnings release for the quarter ending January 31, the company reported a quarterly net profit of $29.61 million. In comparison, last year the company had a GAAP net loss of $2.61 million.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.

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Zumiez, Inc. engages in retailing apparel, footwear and accessories for young men and women. It also offers hardgoods including skateboards, snowboards, bindings, components, and other equipment. It operates under the Zumiez, Blue Tomato, and Fast Times brands. The company was founded by Thomas D. Campion on July 3, 1978 and is headquartered in Lynnwood, WA.

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