Jefferies Remains Sidelined on Zoe's Kitchen, Inc. (ZOES) Following 2Q
- Wall St. rises amid robust earnings, GDP data
- FBI to review more emails related to Clinton's private email use: letter
- Unusual 11 Mid-Day Movers 10/28: (GRVY) (VRTS) (ITGR) Higher; (OPXA) (SNMX) (STON) Lower
- ExxonMobil (XOM) Tops Q3 EPS by 5c; CapEx Light of Views
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies reiterated a Hold rating and $33.00 price target on Zoe's Kitchen (NYSE: ZOES) following the company's 2Q earnings report. The company's EPS and EBITDA upside came from 160 bps reduction in COGs with deflation, led by chicken.
Analyst Andy Barish commented, "EPS in line with Street and above our low-end estimate, but sss in line with us at +4% and below Street of +5%. Slower industry traffic appears to be impacting sss and 2H sss guidance is an implied 2-4%, with 3% price in place, which means flat-to-negative traffic. Even very strong positioned brands like ZOES facing competition with fast-casual unit proliferation. We tweak ests, maintain $33 PT, Hold rating and stock expected to react negatively to slowing sss."
Shares of Zoe's Kitchen closed at $37.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Raises Price Target on Vocera Communications, Inc. (VCRA) to $22
- Alphabet (GOOGL) (GOOG) PT Raised to $925 at Needham & Company
- Leerink Partners Downgrades McKesson (MCK) to Market Perform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!