Jefferies Raises Price Target on Zumiez, Inc. (ZUMZ) to $23 Following 3Q
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Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
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Jefferies reiterated a Hold rating on Zumiez, Inc. (NASDAQ: ZUMZ), and raised the price target to $23.00 (from $21.00), following the company's 3Q earnings report. November SSS came in at +5.7%, below consensus despite an easy compare, but still admirable in a difficult environment. This quarter, North America grew +7.8% y/y and International grew +14.6% y/y. Management guided to FY'17 comps of +3-5% and EPS of $0.60-$0.66 with commentary citing macro and retail industry headwinds.
Analyst Randal Konik commented, "Above-consensus EPS was driven by better GM and tighter SG&A control, but inventories remain high. In a tough environment, ZUMZ is executing well aided by improved merchandising. Compares are easy heading into 4Q'17, but we remain on the sidelines given industry headwinds and until top-line momentum is more broad-based. Maintain Hold, PT to $23."
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 $24.55 yesterday.
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