Janney Montgomery Scott Maintains a 'Neutral' on Zumiez, Inc. (ZUMZ); Raising Estimates as Strong Momentum Continues
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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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Janney Montgomery Scott maintains a 'Neutral' on Zumiez, Inc. (NASDAQ: ZUMZ) price target raised from $34 to $37.
Analyst, Adrienne Tennant, said, "On the pre-recorded call, management noted that May sales results trended higher than the previously stated 2Q12 guidance of net sales in the range of $128 to $130 million and a comp increase in the mid-single digit range. We expect that the company’s positive momentum will continue throughout 2Q12, and we believe positive sales performance could lead to raised 2Q12 guidance. We are projecting a June comp increase of +7%. Our checks continue to reflect clean levels of inventory, both full price and clearance, and ZUMZ continues to be one of the least promotional teen retailers. The diversified mix of third party brands and private label continues to resonate strongly with shoppers and provides the company with significant levers to pull. We continue to believe ZUMZ is a “go to” store for its target market and is taking market share."
"We are raising our 2Q12, FY12 and FY13 EPS estimates; 2Q12 goes to $0.11 from $0.09 (versus consensus of $0.09); FY12 goes to $1.54 from $1.49 (versus consensus of $1.53); and FY13 goes to $1.75 from $1.70 (versus consensus of $1.72)."
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 $34.77 yesterday.
Analyst, Adrienne Tennant, said, "On the pre-recorded call, management noted that May sales results trended higher than the previously stated 2Q12 guidance of net sales in the range of $128 to $130 million and a comp increase in the mid-single digit range. We expect that the company’s positive momentum will continue throughout 2Q12, and we believe positive sales performance could lead to raised 2Q12 guidance. We are projecting a June comp increase of +7%. Our checks continue to reflect clean levels of inventory, both full price and clearance, and ZUMZ continues to be one of the least promotional teen retailers. The diversified mix of third party brands and private label continues to resonate strongly with shoppers and provides the company with significant levers to pull. We continue to believe ZUMZ is a “go to” store for its target market and is taking market share."
"We are raising our 2Q12, FY12 and FY13 EPS estimates; 2Q12 goes to $0.11 from $0.09 (versus consensus of $0.09); FY12 goes to $1.54 from $1.49 (versus consensus of $1.53); and FY13 goes to $1.75 from $1.70 (versus consensus of $1.72)."
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 $34.77 yesterday.
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