Shares in DreamWorks Animation fell more than $4 in early morning trading Wednesday after Piper Jaffray downgraded the toon studio's stock to "underweight" from "neutral." Company also set a target price of $19 for DWA's shares, which closed at $35.20 on Tuesday.

Analysts at B. Riley were less harsh, remaining "neutral" on the stock and dropping their price targets to $33.50 from $32, in its own report released Wednesday.

In January, analysts at Zacks upgraded the stock from "neutral" to "outperform," and has a $38.70 price target, while Morgan Stanley, in December, issued a price target of $31 and an "underweight" rating.

DWA announced fourth quarter and full year 2013 earnings results on Tuesday.

SEE ALSO: DreamWorks Animation Profitable in Q4 Despite $13.5 Million 'Turbo' Loss


The stock immediately took a tumble Wednesday morning, falling 12.59% to $30.77 shortly after the market opened.

It was trading at $30.67 at 10 a.m. PST, down $4.53, losing nearly 12.9%.

Over the past year, DWA's stock has reached a low of $15.90 and a high of $36.01.

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