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UPDATE: Piper Jaffray Downgrades Quiksilver to Neutral on Signs of Maturing Sector Cycle

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Piper Jaffray downgraded Quiksilver, Inc. (NYSE: ZQK) from Overweight to Neutral and maintained a $4.00 price target.

Piper Jaffray commented, "We are lowering our investment rating on ZQK from Overweight to Neutral on the heels of below-plan Holiday sales reports from PacSun and Tilly's. Both PacSun at 681-stores and Tilly's at 168-stores are important retail channels to the Quiksilver family of brands. We are increasingly cautious on the action sports category as evidence exists that the lifestyle is maturing domestically and related demand is likely to moderate over the next 3-5 years."

Quiksilver closed at $5.51 on Thursday.

Latest Ratings for ZQK

DateFirmActionFromTo
Sep 2014Credit SuisseMaintainsNeutral
Jun 2014Stifel NicolausDowngradesBuyHold
Jun 2014Monness Crespi HardtDowngradesBuyNeutral

View More Analyst Ratings for ZQK
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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