Barclays Maintains an 'Equalweight' on Zumiez (ZUMZ); 3Q Review

Barclays maintains an 'Equalweight' on Zumiez, Inc. (NASDAQ: ZUMZ) price target of $22.00.

Barclays analyst says, "ZUMZ reported 3Q FY11 EPS of $0.45, $0.02 better than our estimate of $0.43 and above consensus of $0.41...While we believe the company's positioning and long-term growth story are solid, ZUMZ is up against an abundant snow season from last year in Q4/11. 2012 should benefit from the new assortment planning system and growth in Canada and costing could get better in the back of Q4/11 with the increase in hard goods in the mix. We think ZUMZ stores are unique in the mall and that management knows its niche customer. We are also believers in the company's long-term objective to grow operating profit faster than sales and we think the company should be able to achieve a double-digit margin."

"We are maintaining our 4Q 2011 EPS estimate of $0.54, raising FY 2011 to $1.14 from $1.12, and maintaining FY 2012 at $1.29."

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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