UPDATE: Jefferies Downgrades Zumiez, Inc. (ZUMZ) to Hold

September 21, 2021 3:57 AM EDT
Get Alerts ZUMZ Hot Sheet
Price: $40.15 -1.67%

Rating Summary:
    7 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 19 | New: 48
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(Updated - September 21, 2021 5:11 AM EDT)

Jefferies analyst Janine Stichter downgraded Zumiez, Inc. (NASDAQ: ZUMZ) from Buy to Hold with a price target of $42.00 (from $52.00).

The analyst comments "We downgrade ZUMZ to Hold from Buy as we expect top-line and margin trends to lag peers near-term, keeping valuation constrained. We appear to be on the backside of the skate boom, which has driven significant growth in hardgoods, and lack a clear catalyst in apparel/footwear as an offset. The co.'s exceptional management pre-COVID leaves less low-hanging fruit for underlying margin improvement via self-help initiatives go forward. Move to Hold, $42 target."

For an analyst ratings summary and ratings history on Zumiez, Inc. click here. For more ratings news on Zumiez, Inc. click here.

Shares of Zumiez, Inc. closed at $40.90 yesterday.

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