Wall Street Rates Heelys HLYS

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To summerize,

17-Jan-07 CIBC Wrld Mkts Initiated   Sector Perform
17-Jan-07 JP Morgan Initiated   Overweight
17-Jan-07 Bear Stearns Initiated   Outperform
17-Jan-07 Wachovia Initiated   Mkt Perform

The full story is here. I would not take their ratings too seriously (I would like to read their analysis instead). The 60% sales increase in California (No. 6 economy in the world if considered as a country) in 2006 is a good sign. Is California a mature market as the analyst suggested? I don’t know.

I did a little analysis on its sales in past two years (from its S1 form). Here are the data

                       2004             2005       2005 9m         2006 9m  9m growth
 Sales      $21,310,000 $43,950,000 $29,052,000 $117,107,000  303%
# of pairs       697,000     1,411,000       927,000      3,858,000 
$ per pair          $30.57        $31.15         $31.34           $30.35  

Disclosure: I am long (overweight) on Heelys.

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