Market Overview

UPDATE: D.A. Davidson Reiterates Neutral Rating, Raises PT on Zumiez Following Good 1Q Results

Related ZUMZ
Mid-Afternoon Market Movers For July 10, 2014
Lumber Liquidators Falls On Weak Forecast; Zumiez Shares Spike Higher

In a report published Friday, D.A. Davidson analyst Andrew Burns reiterated a Neutral rating on Zumiez (NASDAQ: ZUMZ), and raised the price target from $32.00 to $33.00.

In the report, Burns noted, “1Q results exceed consensus. Zumiez reported 1Q revenue and non-GAAP EPS of $148.5 million and $0.13 (GAAP EPS of $0.08 including acquisition-related costs), compared to consensus of $148.1 million and $0.12 and our estimates of $148.5 million and $0.14. Guidance called for a mid-single digit comp decline, revenue of $141-$144 million and EPS of $0.04-$0.07 ($0.08-$0.11 excluding ~$2 million in acquisition-related costs). Gross margin was 32.3%, down 34bp year-over-year (y/y). SG&A, excluding a $1.7 million in acquisition costs, was $42.2 million, or 28.4% of sales, compared to 26.8% of sales in 1Q12.”

Zumiez closed on Thursday at $32.00.

Posted-In: D.A. DavidsonAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (ZUMZ)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional