Janney Montgomery Scott Raises Estimates on Zumiez, Inc. (ZUMZ); Q1 Beats as Momentum Continues
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Price: $16.10 +1.45%
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
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Janney Montgomery Scott maintains a 'Neutral' on Zumiez, Inc. (NASDAQ: ZUMZ) price target of $34.00.
Analyst, Adrienne Tennant, said, "ZUMZ reported 1Q12 EPS beat of $0.14 (includes $0.01 per diluted share associated with the relocation of the company’s ecommerce center) versus the Street at $0.11 and management’s initial guidance of $0.07 to $0.09 pro forma, as management tends to be conservative. The company had previously reported 1Q12 comparable store sales of +12.9% compared to +12.6% in 1Q11...We expect that the company’s positive momentum will continue throughout 2Q12...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, especially as its most direct competitor, PacSun (Nasdaq: PSUN), is shrinking its footprint."
Tennant raises FY12 EPS estimate from $1.47 to $1.49 and FY13 from $1.68 to $1.70.
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 $35.16 yesterday.
Analyst, Adrienne Tennant, said, "ZUMZ reported 1Q12 EPS beat of $0.14 (includes $0.01 per diluted share associated with the relocation of the company’s ecommerce center) versus the Street at $0.11 and management’s initial guidance of $0.07 to $0.09 pro forma, as management tends to be conservative. The company had previously reported 1Q12 comparable store sales of +12.9% compared to +12.6% in 1Q11...We expect that the company’s positive momentum will continue throughout 2Q12...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, especially as its most direct competitor, PacSun (Nasdaq: PSUN), is shrinking its footprint."
Tennant raises FY12 EPS estimate from $1.47 to $1.49 and FY13 from $1.68 to $1.70.
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 $35.16 yesterday.
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