Imperial Capital Sees Near-Term Challenges at Zumiez (ZUMZ)

November 30, 2012 2:41 PM EST
Get Alerts ZUMZ Hot Sheet
Price: $19.75 +0.25%

Rating Summary:
    10 Buy, 16 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Following the release of Q3 results, Imperial Capital maintained an In-Line rating on Zumiez, Inc. (NASDAQ: ZUMZ) and trimmed its price target to $23.00 (from $25.00).

"Zumiez is facing near-term challenges including a difficult external environment in Europe as it integrates Blue Tomato, weakness in its snow related business, and a footwear cycle that favors athletic styles over skate," said analyst Lee J. Giordano.

However, despite these challenges Giordano thinks Zumiez should trade at least at a level consistent with its peer group average given "long-term organic square footage growth potential and above average earnings growth potential in the 15% range over the next few years".

Imperial reduced our pro forma 2012 and 2013 EPS estimates by $0.11 and $0.13, respectively to $1.34 and $1.54.

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 $20.75 yesterday.

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