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UPDATE: D.A. Davidson & Co. Reiterates On Zumiez On Encouraging 1Q Upside

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In a report published Friday, D.A. Davidson & Co. analyst Andrew Burns reiterated a Buy rating on Zumiez (NASDAQ: ZUMZ), and raised the price target from $31.00 to $32.00.

In the report, D.A. Davidson & Co. noted, “1Q exceeds guidance. Zumiez reported revenue and non-GAAP EPS of $162.9 million and $0.10 (GAAP EPS was $0.09), in excess of consensus at $161.2 million and $0.05, and our estimates of $162.6 million and $0.06. 1Q guidance called for a low single digit comp decline, revenue of $156-$160 million, and EPS of approximately $0.00-$0.05 (excluding ~$0.02 in acquisition costs).

"Gross margin of 31.0% was down 129bp year-over-year (y/y), reflecting a 130bp product margin decline driven by the discounting of excess inventory early in the quarter. Adjusted SG&A was $46.2 million, representing 28.4% of sales (flat y/y). Inventory was up 7.4% y/y.”

Zumiez closed on Thursday at $27.22.

Latest Ratings for ZUMZ

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

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Posted-In: Andrew Burns D.A. Davidson & Co.Analyst Color Price Target Analyst Ratings


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