In a report released today, Mitch Kummetz from Pivotal Research reiterated a Hold rating on Zumiez Inc (ZUMZ), with a price target of $22. The company’s shares closed yesterday at $20.29.
Kummetz observed:
“We’re modeling 1Q at the high end of ZUMZ’ range, and we’d be surprised if the company didn’t meet/beat our estimates. In short, 1Q got off to a slow start, but ZUMZ wasn’t guiding to much sequential improvement over the balance of the quarter, and we suspect the company achieved/exceeded these modest expectations. On the other hand, we presume that 2Q is off to a slow start, with May likely comping similarly to February. Assuming such a slow start, we expect ZUMZ to provide conservative 2Q guidance, albeit maybe not quite as cautious as 1Q. The company will also likely address its FY19 guidance, and we don’t know if it will be revised, but we believe it will more likely go down than up. Since reinitiating coverage on ZUMZ nearly a year ago, we’ve been preaching that this stock is best owned when it cheap.”
According to TipRanks.com, Kummetz is a 3-star analyst with an average return of 0.9% and a 54.4% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.
Currently, the analyst consensus on Zumiez Inc is a Hold with an average price target of $23.67.
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Zumiez Inc’s market cap is currently $517.8M and has a P/E ratio of 11.32. The company has a Price to Book ratio of 1.29.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.
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Zumiez, Inc. engages in retailing apparel, footwear and accessories for young men and women. It also offers hardgoods including skateboards, snowboards, bindings, components, and other equipment. It operates under the Zumiez, Blue Tomato, and Fast Times brands. The company was founded by Thomas D. Campion on July 3, 1978 and is headquartered in Lynnwood, WA.
