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Upgrade Alert for Zumiez (ZUMZ)

By Shiri Gupta

Zumiez (NASDAQ:ZUMZ) was upgraded from Neutral to Buy at B. Riley today. The stock closed yesterday at $21.15 on volume of 3.3 million shares, above average daily volume of 346,000.

Zumiez Inc., is a specialty retailer of action sports related apparel, footwear, equipment, and accessories.

Zumiez (NASDAQ:ZUMZ) defies analysts with a current price ($21.15) 6.6% above its average consensus price target of $19.75. The stock should discover initial support at its 50-day moving average (MA) of $18.85 and subsequent support at its 200-day MA of $18.51.

In the past 52 weeks, shares of Zumiez have traded between a low of $11.53 and a high of $41.96 and closed yesterday at $21.15, which is 83% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 1.9%.

SmarTrend recommended that subscribers consider buying shares of Zumiez on July 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.44. Since that recommendation, shares of Zumiez have risen 11.2%. We continue to monitor ZUMZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades zumiez

Ticker(s): ZUMZ