DA Davidson Upgrades Zumiez to Neutral (ZUMZ)
Zumiez (NASDAQ:ZUMZ) was upgraded by investment analysts at DA Davidson to a “neutral” rating in a note issued to investors on Thursday, American Banking and Market News reports. The firm currently has a $24.00 target price on the stock, down from their previous target price of $27.00. DA Davidson’s price objective suggests a potential upside of 10.91% from the stock’s previous close.
The analysts wrote, “January comps decline 7.6%, below consensus (per Retail Metrics) of -3.3% and our -0.5% estimate. The comp decline was driven by a decrease in both transactions and dollars per transaction (falling average unit retail was only partially offset by higher units per transaction). Sales decreased 24.3% year-over-year (y/y) to $38.1 million. Excluding the extra 53rd week included in January 2013 sales, revenue would have dropped 0.5% y/y. All product categories declined during the month. January’s results brought final 4Q revenue and comps down to $225.8 million and -2.2%. ZUMZ ended the month with 551 stores (down 2 from December), including 28 stores in Canada and 12 in Europe.”
Zumiez (NASDAQ:ZUMZ) opened at 21.51 on Thursday. Zumiez has a 52 week low of $20.68 and a 52 week high of $33.50. The stock has a 50-day moving average of $23.83 and a 200-day moving average of $26.87. The company has a market cap of $651.4 million and a price-to-earnings ratio of 15.19.
Zumiez (NASDAQ:ZUMZ) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.45 by $0.06. The company had revenue of $191.10 million for the quarter, compared to the consensus estimate of $190.72 million. During the same quarter last year, the company posted $0.51 earnings per share. Zumiez’s revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Zumiez will post $1.41 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Mizuho cut their price target on shares of Zumiez from $24.00 to $22.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at TheStreet upgraded shares of Zumiez from a “hold” rating to a “buy” rating in a research note to investors on Monday, January 20th. Finally, analysts at Imperial Capital cut their price target on shares of Zumiez from $28.00 to $25.00 in a research note to investors on Tuesday, January 14th. They now have an “in-line” rating on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Zumiez presently has a consensus rating of “Hold” and an average price target of $28.50.
Zumiez Inc (NASDAQ:ZUMZ) is a specialty retailer of action sports related apparel, footwear, equipment and accessories operating under the Zumiez brand name.
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