DA Davidson Downgrades Zumiez, Inc. (ZUMZ) to Neutral; Valuation Adequately Reflects Positive Fundamentals
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Price: $32.44 +0.78%
Rating Summary:
6 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Rating Summary:
6 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Trade ZUMZ Now!
DA Davidson downgraded Zumiez, Inc. (NASDAQ: ZUMZ) from Buy to Neutral, price target lowered from $35 to $33.00.
DA analyst says, "Shifting to NEUTRAL as recent share appreciation restores ZUMZ growth multiple. During the stock market pullback in summer 2011, Zumiez shares fell below $18. Since then, shares have appreciated over 70% on positive earnings revisions and multiple expansion. While fundamentals remain positive, we find it difficult to continue recommending shares in the low-$30s."
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 $30.92 yesterday, with a 52 week range of $15.85-$32.49.
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DA analyst says, "Shifting to NEUTRAL as recent share appreciation restores ZUMZ growth multiple. During the stock market pullback in summer 2011, Zumiez shares fell below $18. Since then, shares have appreciated over 70% on positive earnings revisions and multiple expansion. While fundamentals remain positive, we find it difficult to continue recommending shares in the low-$30s."
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 $30.92 yesterday, with a 52 week range of $15.85-$32.49.
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