Analysts Drop Quiksilver Rating to ‘Hold’

Quiksilver Inc. shares fell nearly 18% on Thursday after several industry analysts reduced their recommendations to “hold” from buy. The analysts’ actions apparently were linked to the surf wear manufacturer’s announcement Wednesday that Quiksilver’s president and chief operating officer, Randall L. Herrel, was leaving to take a job at Ashworth Inc., a Carlsbad-based golf apparel company.

Quiksilver stock dropped $4.75 a share to $21.75 in Nasdaq trading.