Oppenheimer Believes Peak Resorts (SKIS) Won’t Stop Here


Oppenheimer analyst Ian Zaffino maintained a Buy rating on Peak Resorts (NASDAQ: SKIS) yesterday and set a price target of $7. The company’s shares closed yesterday at $5.50, close to its 52-week high of $5.78.

Zaffino noted:

“SKIS delivered solid 4Q18 results, as solid Peak Pass sales and the benefits of enhanced snowmaking more than offset unfavorable holiday weather in the Northeast. Adjusted EBITDA of $21.5M compared to our/Street’s $20.9M/$21.6M estimates while revenue of $56.0M was above our/Street’s $51.6M/$52.7M estimates. Management remains focused on enhancing the guest experience and will complete the new at Mt. North terrain expansion ahead of the 2018/2019 ski season. Maintain Outperform.”

According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.1% and a 56.0% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Destinations Inc, and Six Flags.

Currently, the analyst consensus on Peak Resorts is a Moderate Buy with an average price target of $6, which is a 9.1% upside from current levels. In a report issued on July 13, B.Riley FBR also assigned a Buy rating to the stock with a $6 price target.

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Based on Peak Resorts’ latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $9.68 million. In comparison, last year the company had a net profit of $8.96 million.

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Peak Resorts, Inc. owns and operates ski resorts throughout the Midwest, Northeast, and Southeast United States. Its ski resort operations consists of snow skiing, snowboarding, and other snow sports. The company was founded on September 24, 1997 and is headquartered in Wildwood, MO.

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