Zumiez Given Underperform Rating at Bank of America (ZUMZ)
Zumiez (NASDAQ: ZUMZ)‘s stock had its “underperform” rating reaffirmed by Bank of America in a research note issued on Friday. They currently have a $21.00 price target on the stock, up from their previous price target of $19.00.
The analysts wrote, “Zumiez reported adjusted 4Q EPS of $0.75, $0.01 ahead of our estimate and management’s recently updated guidance. The beat was driven by better than expected tax rate. Management laid out a more rapid store growth plan for 2013 than expected, which includes Zumiez stores in North America and Canada and Blue Tomato stores in Europe. Despite the new growth plan, we remain concerned about ongoing negative comps, increasing competition, and the strength of the action-sports consumer.”
A number of other firms have also recently commented on ZUMZ. Analysts at Wedbush cut their price target on shares of Zumiez from $24.00 to $23.00 in a research note to investors on Thursday, March 7th. They now have a “neutral” rating on the stock. Separately, analysts at Janney Montgomery Scott cut their price target on shares of Zumiez from $23.00 to $22.00 in a research note to investors on Thursday, March 7th. They now have a “neutral” rating on the stock. Finally, analysts at CL King initiated coverage on shares of Zumiez in a research note to investors on Friday, February 15th. They set a “neutral” rating on the stock.
Four equities research analysts have rated the stock with a buy rating, one has assigned an overweight rating, twelve have given a hold rating, one has assigned an underweight rating, and one has given a sell rating to the company’s stock. The company presently has an average rating of “hold” and an average target price of $25.47.
Shares of Zumiez (NASDAQ: ZUMZ) traded up 3.63% during mid-day trading on Friday, hitting $25.10. Zumiez has a 52 week low of $17.93 and a 52 week high of $41.96. The stock’s 50-day moving average is currently $22.59. The company has a market cap of $786.9 million and a P/E ratio of 20.07.
Zumiez (NASDAQ: ZUMZ) last announced its earnings results on Thursday, March 14th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.73 by $0.02. The company had revenue of $224.40 million for the quarter, compared to the consensus estimate of $223.37 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. Zumiez has set its Q1 guidance at $0.04-0.07 EPS. On average, analysts predict that Zumiez will post $1.63 earnings per share for the current fiscal year.
Zumiez Inc. (Zumiez) is a specialty retailer of action sports related apparel, footwear, equipment and accessories operating under the Zumiez brand name.
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