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Friday, June 5, 2015
Zoe's Kitchen (ZOES) : 1-year performance
Zoe’s Kitchen Inc. (ZOES), the Mediterranean restaurant company, reported better-than-expected Q1 earnings. Positive EPS and revenue above consensus estimates paved the way for several analysts’ upgrades and price target increases. Technically ZOES appears to be breaking out of a substantiated intermediate consolidation rectangle in the $31 to $34 range on heavy volume (810,000 shares traded in the first half hour of trading versus 400,000 shares average) but a previous resistance around $36 may act as a glass ceiling for the time being. Heavy volume in the 6/19/15 35.00 Put option is of note in early trading with more than 3,000 contracts traded versus open interest of 455 contracts.
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