Wedbush Starts Zumiez, Inc. (ZUMZ) at Neutral
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Price: $18.18 +3.06%
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
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Wedbush initiated coverage on Zumiez, Inc. (NASDAQ: ZUMZ) with a Neutral rating and price target of $24.00. Analyst Morry Brown think it will be challenging to move to full-priced goods.
"ZUMZ has been significantly more disciplined on promotions and markdowns relative to peers over the last year. While maintaining pricing integrity has supported the company's margin structure, and we believe is the proper long-term strategy, the intensely promotional environment across the mall has weighed on the company's top-line. In the near term, we do not expect a significant shift in the promotional environment, which we believe restrains sales and earnings upside for ZUMZ. Long-term, we believe the company's business model appears more sustainable than many of its peers who are driving their business with heavy promotions," said Brown.
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 $23.71 yesterday.
"ZUMZ has been significantly more disciplined on promotions and markdowns relative to peers over the last year. While maintaining pricing integrity has supported the company's margin structure, and we believe is the proper long-term strategy, the intensely promotional environment across the mall has weighed on the company's top-line. In the near term, we do not expect a significant shift in the promotional environment, which we believe restrains sales and earnings upside for ZUMZ. Long-term, we believe the company's business model appears more sustainable than many of its peers who are driving their business with heavy promotions," said Brown.
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 $23.71 yesterday.
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