NEW YORK (TheStreet) -- Shares of Zumiez (ZUMZ - Get Report) closed higher by 15.76% to $21.15 on heavy trading volume Thursday after the teen retailer said sales in September increased 11.5% year-over-year to $75 million.
Comparable-store sales rose 6.3% in September vs. a 1.8% decrease for the same period in 2015.
The Lynwood, WA-based company lifted its 2016 fiscal third-quarter revenue outlook to be in the range of $216 million to $217 million, while Wall Street is looking for $215.2 million in revenue.
Zumiez now expects to earn between 29 cents and 30 cents per share. Analysts are modeling earnings of 29 cents per share for the period.
B. Riley subsequently raised its rating on the stock to "buy" from "neutral," TheFly reports.
The firm also hiked its price target to $25 from $18.
About 3.34 million of the company's shares traded today vs. its average 30-day volume of 437,487 shares per day.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates Zumiez as a Hold with a ratings score of C. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, the team also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: ZUMZZUMZ data by YCharts