Canaccord Genuity Maintains a 'Hold' on Hibbett Sports (HIBB); Q2 Beat, But We're Not Sold
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Price: $60.80 +1.33%
Rating Summary:
4 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
4 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade HIBB Now!
Canaccord Genuity maintains a 'Hold' on Hibbett Sports (NASDAQ: HIBB) price target of $55.00 (from $52.00).
Analyst, Camilo Lyon, said, "HIBB’s Q2 EPS of $0.30 came in ahead of our $0.26 estimate and consensus of $0.28. While comps of 4.8% disappointed (we were at 6%), gross margin was impressive and drove the beat. A one-week delay in the start of school in five of its key states (~1/3 of sales) pushed sales into Q3 from Q2 (~100bps comp impact). We believe HIBB will make up the transfer of sales but at the expense of margins due to planned BTS promotions. With valuation not compelling, we maintain our rating but are raising our target."
For an analyst ratings summary and ratings history on Hibbett Sports click here. For more ratings news on Hibbett Sports click here.
Shares of Hibbett Sports closed at $59.22 yesterday, with a 52 week range of $31.03-$63.39.
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Analyst, Camilo Lyon, said, "HIBB’s Q2 EPS of $0.30 came in ahead of our $0.26 estimate and consensus of $0.28. While comps of 4.8% disappointed (we were at 6%), gross margin was impressive and drove the beat. A one-week delay in the start of school in five of its key states (~1/3 of sales) pushed sales into Q3 from Q2 (~100bps comp impact). We believe HIBB will make up the transfer of sales but at the expense of margins due to planned BTS promotions. With valuation not compelling, we maintain our rating but are raising our target."
For an analyst ratings summary and ratings history on Hibbett Sports click here. For more ratings news on Hibbett Sports click here.
Shares of Hibbett Sports closed at $59.22 yesterday, with a 52 week range of $31.03-$63.39.
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