Pivotal Research Keeps a Buy Rating on Zumiez Inc (ZUMZ)


Pivotal Research analyst Mitch Kummetz reiterated a Buy rating on Zumiez Inc (NASDAQ: ZUMZ) today and set a price target of $36. The company’s shares closed on Friday at $29.20.

Kummetz wrote:

“We upgraded ZUMZ a week ago, as we anticipated upside to 3Q, based on favorable B2S trends continuing into August. That’s now in the numbers, and we’ve raised our estimates accordingly. Beyond August, ZUMZ’ guidance reflects a more cautious view over the balance of the year, and we’re modeling this accordingly. As such, we view our estimates with an upward bias, and we see potential upside to our estimates as a catalyst for the stock.”

According to TipRanks.com, Kummetz is a 3-star analyst with an average return of 2.4% and a 54.8% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zumiez Inc with a $32.67 average price target, implying an 11.9% upside from current levels. In a report issued on September 7, B.Riley FBR also assigned a Buy rating to the stock with a $34 price target.

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Based on Zumiez Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly net profit of $4.38 million. In comparison, last year the company had a GAAP net loss of $608K.

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Zumiez, Inc. is a multi-channel retailer of apparel, footwear, accessories and hardgoods rooted in youth culture as expressed through music, art, fashion and action sports lifestyle for young men and women. The company’s stores cater to young men and women between the ages of 12 and 24 of popular brands such as action sport lifestyle centered on activities that include skateboarding, surfing, snowboarding, bicycle motocross, and motocross. Its apparels includes tops, bottoms, outerwear and accessories such as caps, bags and backpacks, belts, jewelry and sunglasses, footwear consists of action sports related athletic shoes and sandals, equipment offerings, or hardgoods include skateboards, snowboards and ancillary gear such as boots and bindings. The company also offer a selection of other items, such as novelties. Zumiez was founded by Thomas D. Campion in August 1978 and is headquartered in Lynnwood, WA.

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