Zumiez (NASDAQ:ZUMZ) to Repurchase $15.00 million in Outstanding Shares

Zumiez (NASDAQ:ZUMZ - Get Free Report) announced that its board has initiated a stock buyback program on Thursday, June 5th, RTT News reports. The company plans to repurchase $15.00 million in outstanding shares. This repurchase authorization permits the apparel and footwear maker to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.Zumiez Price PerformanceIs Abercrombie & Fitch Stock's Next Stop $40 or $20?NASDAQ:ZUMZ traded up $0.28 during trading hours on Thursday, hitting $12.86. The stock had a trading volume of 510,138 shares, compared to its average volume of 300,167. The company has a 50 day simple moving average of $12.75 and a two-hundred day simple moving average of $15.78. The firm has a market capitalization of $251.63 million, a price-to-earnings ratio of -5.00 and a beta of 0.90. Zumiez has a one year low of $11.31 and a one year high of $31.37. Zumiez (NASDAQ:ZUMZ - Get Free Report) last announced its earnings results on Thursday, March 13th. The apparel and footwear maker reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.01). Zumiez had a negative net margin of 5.60% and a negative return on equity of 2.67%. The company had revenue of $279.16 million during the quarter, compared to analysts' expectations of $276.47 million. During the same period in the prior year, the business earned $0.40 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts anticipate that Zumiez will post -0.12 earnings per share for the current year. About Zumiez (Get Free Report)3 Small-Cap Stocks With Big CatalystsZumiez 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.Featured StoriesFive stocks we like better than ZumiezMost Volatile Stocks, What Investors Need to KnowIs Meta Plotting a Stablecoin Comeback Years After Libra's Flop?Expert Stock Trading Psychology TipsSilver's Options Sizzle: Are Traders Betting on a Breakout?Health Care Stocks Explained: Why You Might Want to InvestAT&T: Is This Telecom Giant a Buy or a Bye for Your Portfolio?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Is The Bottom In For Zumiez, Inc? Should You Invest $1,000 in Zumiez Right Now?Before you consider Zumiez, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zumiez wasn't on the list.While Zumiez currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here