Janney Comments as Zumiez (ZUMZ) Comps Data Sends Stock into the Flames
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Price: $32.23 -2.78%
Rating Summary:
6 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 13
Rating Summary:
6 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 13
Trade ZUMZ Now!
Janney Montgomery Scott maintained a Neutral rating on Zumiez, Inc. (NASDAQ: ZUMZ) and trimmed its price target to $24.00 (from $29.00).
Commenting on Zumiez's October comp store sales data, which missed estimates (0.6% vs. 4.4% consensus) analyst Adrienne Tennant said, "We point out that ZUMZ has now reported monthly comp below consensus expectations for four of the past five months, prior to which they had not done so since July 2011."
Zumiez stock is trading lower by 16.5 percent as a result of the miss. Although ZUMZ sales softened significantly in October, experiencing negative comps in the first and last week, 3Q12 comps of 3.7 percent remains in line with the company's guided range, noted the report.
"Based on our methodology, we believe that ZUMZ will continue to grow the top line through unit growth, however has recently experienced decelerating comp performance. We currently remain on the sidelines as the company also anniversaries historically high product margins," said Tennant.
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 $25.32 yesterday, with a 52 week range of $20.74-$41.96.
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Commenting on Zumiez's October comp store sales data, which missed estimates (0.6% vs. 4.4% consensus) analyst Adrienne Tennant said, "We point out that ZUMZ has now reported monthly comp below consensus expectations for four of the past five months, prior to which they had not done so since July 2011."
Zumiez stock is trading lower by 16.5 percent as a result of the miss. Although ZUMZ sales softened significantly in October, experiencing negative comps in the first and last week, 3Q12 comps of 3.7 percent remains in line with the company's guided range, noted the report.
"Based on our methodology, we believe that ZUMZ will continue to grow the top line through unit growth, however has recently experienced decelerating comp performance. We currently remain on the sidelines as the company also anniversaries historically high product margins," said Tennant.
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 $25.32 yesterday, with a 52 week range of $20.74-$41.96.
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