Stifel Raises Price target on Zumiez, Inc. (ZUMZ) following 2Q Report

Stifel reiterated a Hold rating on Zumiez, Inc. (NASDAQ: ZUMZ), and raised the price target to $17.00 (from $16.00), following the company's 2Q earnings report. The company established its 3Q EPS guidance in the range of $0.21-$0.26, below our previous estimate of $0.30 and consensus of $0.31. Comps are anticipated to be in the range of (2)% to flat.

Analyst Richard Jaffe commented, "Zumiez reported 2Q EPS of $(0.03), above our estimate and consensus of $(0.08), versus adjusted EPS of $0.12 LY. Adjusted EPS LY excludes $0.01 per share related to Blue Tomato. Comp sales decreased 4.9% due to soft traffic and lack of fashion trends that resonated with the ZUMZ customer. Management indicated that 3Q is off to a good start, evident in the positive comp quarter to date."

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 $16.61 yesterday.

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