In a report published Thursday, D.A. Davidson & Co. analyst Andrew Burns reiterated a Buy rating and $36.00 price target on Zumiez ZUMZ.
In the report, D.A. Davidson & Co. noted, “ZUMZ's +3.5% July comp exceeded consensus at +2.8% (Retail Metrics) and our +3.0% estimate. The positive comp was driven by an increase in both transactions and dollars per transaction, with gains in both AUR and UPT. Sales increased 11.9% y/y to $62.8 million. July's results bring final 2Q comps to 3.4% and revenue to $177.6 million, exceeding revenue guidance (updated in early July) that called for$174-$176 million; comps guidance called for a low single-digit increase. Current EPS guidance stands at $0.21-$0.23, which excludes ~$0.02 in acquisition costs. By category, accessories, hardgoods, men's, and juniors were up, while footwear and boys were down.”
Zumiez closed on Wednesday at $29.95.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in