NEW YORK (TheStreet) -- Zumiez (ZUMZ) shares are up 5% to $29.42 in pre-market trading today after the sports apparel retailer raised its second quarter guidance following Wednesday's closing bell.
Shares continue to rally following a 10% jump in after-hours trading yesterday after the company raised its EPS forecast to between 19 cents and 21 cents per share from between 12 cents and 16 cents per share.
The improved outlook is based on robust sales which the company estimates will be between $174 million to $176 million, up from its previous estimate of between $170 and $171 million.
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TheStreet Ratings team rates ZUMIEZ INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ZUMIEZ INC (ZUMZ) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, growth in earnings per share, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: