Zoe's Kitchen (ZOES) Numbers Cut at Jefferies Despite Better Than Feared Results
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Jefferies analyst Andy Barish lowered estimates and his price target on Hold-rated Zoe's Kitchen (NYSE: ZOES) to $26.00 (from $33.00) saying while results were better than feared, the environment is not getting any easier.
Barish commented, "EPS in line with Street and above our low-end est., while SSS was slightly below expectations, but better than feared with '16 guide lowered to only 4%-4.5% from 4.5%-5% given Hurricane Matthew. Unit growth remains strong with slightly higher expectations for '16 and +20% for '17, but the environment remains challenging and RLMs will compress further in the near term with higher investments and slower SSS."
The firm cut FY 2016 EPS from $0.12 to $0.04.
Shares of Zoe's Kitchen closed at $23.94 yesterday.
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