Janney Montgomery Scott Maintains a 'Neutral' on Zumiez, Inc. (ZUMZ); Raising Estimates as April Comps Beat

May 3, 2012 8:44 AM EDT
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Price: $20.25 -0.74%

Rating Summary:
    10 Buy, 16 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Janney Montgomery Scott maintains a 'Neutral' on Zumiez, Inc. (NASDAQ: ZUMZ) price target raised from $33 to $34.

Analyst, Adrienne Tennant, said, "ZUMZ reported a comp beat of +10.1% for April versus Retail Metrics consensus of +6.9%. We had been looking for a +8% April comp with expected upside...The company also reported 1Q12 comp of +12.9% compared to +12.6% in 1Q11, and a combined March and April comp ("Marpl") of +12.3% compared to +12.5% last year. 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."

"We are raising our FY12 and FY13 EPS estimates; FY12 goes to $1.47 from $1.45
(versus consensus of $1.48); and FY13 goes to $1.68 from $1.66 (versus consensus of $1.66)."

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 $37.13 yesterday.

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