Wedbush maintains a 'Neutral' on Zumiez, Inc. (ZUMZ); Anticipate Above Consensus May Comps with Continued AUR Gains
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Price: $18.64 -1.38%
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush maintains a 'Neutral' on Zumiez, Inc. (NASDAQ: ZUMZ), PT $28.
Wedbush analyst says, " With solid May checks, we anticipate May same store sales of +8-10% vs. +7.1% LY which would suggest upside to management’s Q2 +MSD guidance and consensus forecast of +6.3%. Thus far in Q2 and approaching H2, we believe the company’s distinctive product mix could allow ZUMZ to withstand and potentially pass through elevated input costs better than other retailers and recognize AUR gains (following two consecutive months in March and April). Moreover, we note the mix of hardgoods and accessories also diminishes exposure to cotton price hikes. With our expectation for upbeat May sales to set the tone for Q2 and eventually lead to an earnings beat, we believe the stock should maintain its premium multiple."
"On solid sales and leverage on expenses, our F11 EPS estimate remains
$1.15 vs. $0.86 LY with F12 earnings outlook of $1.32."
For more ratings news on Zumiez, Inc. click here and for the rating history of Zumiez, Inc. click here.
Shares of Zumiez, Inc. closed at $30.28 yesterday.
Wedbush analyst says, " With solid May checks, we anticipate May same store sales of +8-10% vs. +7.1% LY which would suggest upside to management’s Q2 +MSD guidance and consensus forecast of +6.3%. Thus far in Q2 and approaching H2, we believe the company’s distinctive product mix could allow ZUMZ to withstand and potentially pass through elevated input costs better than other retailers and recognize AUR gains (following two consecutive months in March and April). Moreover, we note the mix of hardgoods and accessories also diminishes exposure to cotton price hikes. With our expectation for upbeat May sales to set the tone for Q2 and eventually lead to an earnings beat, we believe the stock should maintain its premium multiple."
"On solid sales and leverage on expenses, our F11 EPS estimate remains
$1.15 vs. $0.86 LY with F12 earnings outlook of $1.32."
For more ratings news on Zumiez, Inc. click here and for the rating history of Zumiez, Inc. click here.
Shares of Zumiez, Inc. closed at $30.28 yesterday.
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