In a report released today, Mitch Kummetz from Pivotal Research reiterated a Buy rating on Zumiez Inc (ZUMZ), with a price target of $28. The company’s shares closed yesterday at $21.27.
Kummetz observed:
“We would also note that ZUMZ’ updated 4Q SSS outlook implies a (2)% January comp, which we believe is conservative. ZUMZ’ shares have been a roller coaster over the last six months, and, while they’ve appreciated nicely over the last few weeks, the stock still trades at an FTM P/E of <12x. Using history as a guide, it’s usually a good time to own this stock when the company’s FTM P/E is below its T52W average, which is 14.1x. That said, we’re reiterating our BUY rating."
According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 5.2% and a 60.5% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.
Zumiez Inc has an analyst consensus of Strong Buy, with a price target consensus of $27.25, which is a 28.1% upside from current levels. In a report released today, Jefferies also maintained a Buy rating on the stock with a $28 price target.
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Based on Zumiez Inc’s latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of $13.82 million. In comparison, last year the company had a net profit of $11.92 million.
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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.
