Janney Montgomery Scott Reiterates a 'Buy' on Hot Topic (HOTT); Small Cap Turnaround Play
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Price: $14.00 --0%
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Janney Montgomery Scott reiterates a 'Buy' on Hot Topic (NASDAQ: HOTT) price target of $13.00.
Analyst, Adrienne Tennant, said, "HOTT reported 2Q12 LPS of ($0.02) versus the Street and our estimate of ($0.02), and versus recently raised company guidance in the range of ($0.02) to ($0.03). The company previously reported 2Q12 comp store sales of +3.9% roughly in line with Retail Metrics 2Q12 consensus of +3.8%; comps by division for Hot Topic and Torrid were +3.9% and +4.0%, respectively."
"The company anticipates approximately 20% of the stores will be in strip center locations by the end of FY12. In addition, the Torrid customer is reacting positively to the rebranding, which began this fall. The company shifted its marketing strategy for the Torrid division to debut with back-to-school/fall floorsets, moving towards a more sexy, edgier feel for the fall season. We believe the company’s new marketing campaign creates a clearer point-of-view for the brand and would expect positive customer response as the brand becomes more defined." (FY12 EPS estimate raised from $0.43 to $0.44)
For an analyst ratings summary and ratings history on Hot Topic click here. For more ratings news on Hot Topic click here.
Shares of Hot Topic closed at $9.67 yesterday.
Analyst, Adrienne Tennant, said, "HOTT reported 2Q12 LPS of ($0.02) versus the Street and our estimate of ($0.02), and versus recently raised company guidance in the range of ($0.02) to ($0.03). The company previously reported 2Q12 comp store sales of +3.9% roughly in line with Retail Metrics 2Q12 consensus of +3.8%; comps by division for Hot Topic and Torrid were +3.9% and +4.0%, respectively."
"The company anticipates approximately 20% of the stores will be in strip center locations by the end of FY12. In addition, the Torrid customer is reacting positively to the rebranding, which began this fall. The company shifted its marketing strategy for the Torrid division to debut with back-to-school/fall floorsets, moving towards a more sexy, edgier feel for the fall season. We believe the company’s new marketing campaign creates a clearer point-of-view for the brand and would expect positive customer response as the brand becomes more defined." (FY12 EPS estimate raised from $0.43 to $0.44)
For an analyst ratings summary and ratings history on Hot Topic click here. For more ratings news on Hot Topic click here.
Shares of Hot Topic closed at $9.67 yesterday.
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