Jefferies Raises Price Target on Zumiez (ZUMZ) Following Solid Q3 Earnings, Q4 Guidance
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Price: $18.27 +4.58%
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies is maintaining its Hold rating on shares of Zumiez, Inc. (NASDAQ: ZUMZ) while increasing its price target from $20 to $23.
The company posted solid Q3 results with earnings, sales, and gross margins all topping expectations. Management also provided some positive insight on the near future as same store sales for November were up 8 percent.
Management offered Q4 guidance which entails earnings of $0.52-$0.54 per share and bakes in comps +MSD%. AS a result the firm is increasing its Q4 EPS estimate from $0.50 to $0.53.
An analyst at Jefferies comments, "We remain cautious as ZUMZ cycles past extremely strong results from last year, especially in light of the choppy economic backdrop and highly promotional environment. While thus far high AURs seem to be successfully driving comp, we remain cautious on this front."
For FY12 and FY13, the firm raised its EPS estimates from $1.05 and $1.28 to $1.13 and $1.35.
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 $23.37 yesterday.
The company posted solid Q3 results with earnings, sales, and gross margins all topping expectations. Management also provided some positive insight on the near future as same store sales for November were up 8 percent.
Management offered Q4 guidance which entails earnings of $0.52-$0.54 per share and bakes in comps +MSD%. AS a result the firm is increasing its Q4 EPS estimate from $0.50 to $0.53.
An analyst at Jefferies comments, "We remain cautious as ZUMZ cycles past extremely strong results from last year, especially in light of the choppy economic backdrop and highly promotional environment. While thus far high AURs seem to be successfully driving comp, we remain cautious on this front."
For FY12 and FY13, the firm raised its EPS estimates from $1.05 and $1.28 to $1.13 and $1.35.
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 $23.37 yesterday.
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