Jefferies Cautious on Zumiez (ZUMZ) as Comps Head South

Jefferies maintained a Hold rating on Zumiez, Inc. (NASDAQ: ZUMZ) and cut its price target to $20.00 (from $22.00).

Commenting on Thursday's Q3 earnings release, analysts Randal J. Konik said "3Q results were roughly in line with the company's recently lowered guidance range. However, November SSS missed and turned negative for the first time in three years."

Zumiez issued light guidance and expects continued declines in comps.

"While we think ZUMZ continues to have great market positioning and [long-term] growth opportunities, we are cautious on these slowing trends," cautioned Konik.

For an analyst ratings summary and ratings history on Zumiez, Inc. click here. For more ratings news on Zumiez, Inc. click here.

Shares of Zumiez, Inc. closed at $20.75 yesterday.

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