DA Davidson Downgrades Zumiez, Inc. (ZUMZ) to Neutral; Valuation Adequately Reflects Positive Fundamentals

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.

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