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UPDATE: Piper Jaffray Reduces PT to $27 on Zumiez on Sales Composition Shift

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Piper Jaffray reiterated its Neutral rating on Zumiez (NASDAQ: ZUMZ) and reduced its price target from $34 to $27.

Piper Jaffray noted, "We are revisiting our valuation objective on ZUMZ shares and are lowering our price target from $34 to $27 based on 16x FY14E EPS (vs. 20x previously). Our estimates are unchanged and remain at the low end of the consensus range as our mid-month checks point to a deceleration in business trends from August, potentially at or below mid- single digit leverage thresholds. … A reduced multiple more appropriately reflects this risk going forward."

Zumiez closed at $26.51 on Monday.

Latest Ratings for ZUMZ

DateFirmActionFromTo
Dec 2018B. Riley FBRMaintainsBuyBuy
Oct 2018JefferiesInitiates Coverage OnBuy
Oct 2018BairdMaintainsNeutralNeutral

View More Analyst Ratings for ZUMZ
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Intraday Update Analyst Ratings

 

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