Stifel Raises Price target on Zumiez, Inc. (ZUMZ) following 2Q Report
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Stifel reiterated a Hold rating on Zumiez, Inc. (NASDAQ: ZUMZ), and raised the price target to $17.00 (from $16.00), following the company's 2Q earnings report. The company established its 3Q EPS guidance in the range of $0.21-$0.26, below our previous estimate of $0.30 and consensus of $0.31. Comps are anticipated to be in the range of (2)% to flat.
Analyst Richard Jaffe commented, "Zumiez reported 2Q EPS of $(0.03), above our estimate and consensus of $(0.08), versus adjusted EPS of $0.12 LY. Adjusted EPS LY excludes $0.01 per share related to Blue Tomato. Comp sales decreased 4.9% due to soft traffic and lack of fashion trends that resonated with the ZUMZ customer. Management indicated that 3Q is off to a good start, evident in the positive comp quarter to date."
Shares of Zumiez, Inc. closed at $16.61 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stifel Remains Sidelined on Crane Co. (CR) Following Earnings Call
- Jefferies Cuts Price Target on Entergy (ETR) to $74 Following new Guidance
- AK Steel (AKS) PT, Estimates Raised at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesStifel, 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!