Janney Montgomery Scott Maintains a 'Neutral' on Zumiez, Inc. (ZUMZ); Adjusting Numbers on Mixed Results
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Price: $33.23 +0.97%
Rating Summary:
6 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Rating Summary:
6 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Trade ZUMZ Now!
Janney Montgomery Scott maintains a 'Neutral' on Zumiez, Inc. (NASDAQ: ZUMZ) price target of $29.00 (from $36.00).
Analyst, Adrienne Tennant, said, "...We believe the Blue Tomato acquisition provides room for future earnings growth, but note that it is now not expected to be accretive until 4Q12. Our checks continue to reflect clean levels of inventory, both full price and clearance, and ZUMZ continues to be one of the least promotional teen retailers. The diversified mix of third party brands and private label continues to resonate strongly with shoppers and provides the company with significant levers to pull. We do note that the stock reacted negatively to the comp miss and deceleration in August, trading down approximately -14% in the after market. We currently remain on the sidelines as the company anniversaries historically high product margins and given the near-term comp deceleration."
FY12 EPS estimate lifted from $1.59 to $1.62. FY13 remains at $1.78.
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 $32.22 yesterday, with a 52 week range of $15.85-$41.96.
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Analyst, Adrienne Tennant, said, "...We believe the Blue Tomato acquisition provides room for future earnings growth, but note that it is now not expected to be accretive until 4Q12. Our checks continue to reflect clean levels of inventory, both full price and clearance, and ZUMZ continues to be one of the least promotional teen retailers. The diversified mix of third party brands and private label continues to resonate strongly with shoppers and provides the company with significant levers to pull. We do note that the stock reacted negatively to the comp miss and deceleration in August, trading down approximately -14% in the after market. We currently remain on the sidelines as the company anniversaries historically high product margins and given the near-term comp deceleration."
FY12 EPS estimate lifted from $1.59 to $1.62. FY13 remains at $1.78.
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 $32.22 yesterday, with a 52 week range of $15.85-$41.96.
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