Zacks Investment Research upgraded shares of Zumiez Inc. (ZUMZ) from NEUTRAL to OUTPERFORM on February 06, 2015, with a target price of $46.00.
We have upgraded our long-term recommendation on Zumiez driven by its solid comparable store sales performance for the past three months and encouraging fourth quarter guidance. The company reported comps growth of 6.3%, 8% and 12.3% respectively, for November, December and January. Further, the company expects fourth quarter sales in the range of $255-$256 million, along with 7% comps growth and earnings of $0.75 $0.77 per share. All this, coupled with an upward revision in estimates, further strengthen our confidence in the company's upcoming fourth quarter results. Zumiez's strength is also evident from its positive earnings surprise history. Moreover, we believe the company's store expansion policy, along with the improvement of its omni-channel capabilities will help boost its top and bottom lines.
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