DA Davidson Raises Price Target on Zumiez (ZUMZ) Following Dec. Results and New Guidance
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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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DA Davidson is reaffirming its Buy rating on shares of Zumiez, Inc. (NASDAQ: ZUMZ) and is raising its price target from $31 to $33 following the release of the company's December results.
The company reported comps rose 10 percent during the month, while sales increased 18.1 percent year-over-year to $104.6 million.
Management at ZUMZ also increased its Q4 guidance. Sales and EPS are now forecasted to be $180- $181 million and $0.57-$0.58, up from its previous guidance of $174-$177 million and $0.52-$0.54. Q4 comps are also now expected to be in the high-single digits.
"With Q4 guidance reflecting 17%-20% earnings growth, Zumiez’ multi-faceted growth strategy is clearly working," reports an analyst at DA Davidson. "Behind continued store productivity improvements, new domestic stores, online growth and international expansion we believe Zumiez can maintain this momentum in 2012 with at least mid-teens earnings growth."
The firm has raised its Q4 and FY11 EPS estimates from $0.54 and $1.14 to $0.58 and $1.18. Sales for Q4 and FY11 are now expected to total $181.4 million and $553.4 million.
For FY12, DA Davidson is now forecasting EPS of $1.35 on $621.5 million in sales.
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 $26.33 yesterday.
The company reported comps rose 10 percent during the month, while sales increased 18.1 percent year-over-year to $104.6 million.
Management at ZUMZ also increased its Q4 guidance. Sales and EPS are now forecasted to be $180- $181 million and $0.57-$0.58, up from its previous guidance of $174-$177 million and $0.52-$0.54. Q4 comps are also now expected to be in the high-single digits.
"With Q4 guidance reflecting 17%-20% earnings growth, Zumiez’ multi-faceted growth strategy is clearly working," reports an analyst at DA Davidson. "Behind continued store productivity improvements, new domestic stores, online growth and international expansion we believe Zumiez can maintain this momentum in 2012 with at least mid-teens earnings growth."
The firm has raised its Q4 and FY11 EPS estimates from $0.54 and $1.14 to $0.58 and $1.18. Sales for Q4 and FY11 are now expected to total $181.4 million and $553.4 million.
For FY12, DA Davidson is now forecasting EPS of $1.35 on $621.5 million in sales.
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 $26.33 yesterday.
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