Wolfe Research Remains Bearish on Zumiez, Inc. (ZUMZ) Following 2Q15 Results
Wolfe Research maintained an Underperform rating on Zumiez, Inc. (NASDAQ: ZUMZ), and cuts price target on price target to $16.00 (from $21.00), following the company's 2Q15 earnings results. ZUMZ reported EPS of $0.12, slightly above the Consensus of $0.11. 3Q trends are well off plan, leading to lowered guidance.
Analyst Adrienne Tennant commented, "AMC on 9/10/2015, ZUMZ reported 2Q15 EPS of $0.12, slightly above the Consensus of $0.11. However, 3QTD trends are well off plan, leading to lowered guidance; in reaction, the stock traded off ~20% in the aftermarket. August comparable sales were reported down 10.7%, and 3Q15 EPS guidance was $0.27 to $0.31 (versus Consensus of $0.53) on an anticipated comparable sales decrease in the 7% to 9%."
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Shares of Zumiez, Inc. closed at $21.66 yesterday.