UBS Maintains a 'Neutral' on hhgregg (HGG); Burden of Proof
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Price: $13.75 --0%
Rating Summary:
1 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
1 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade HGG Now!
UBS maintains a 'Neutral' on hhgregg (NYSE: HGG) price target of $6.75 (from $9.50).
Analyst, Michael Lasser, said, "As HGG’s core TV category declines with no apparent catalyst on the horizon, the company has refocused its efforts in other areas such as new products like home fitness (treadmills, ellipticals) and home entertainment furniture (TV stands, sofas, recliners). These categories could help the productivity of HGG’s boxes, but they also expose the company to new risks such as more intense showrooming & heavier inventory investment. The burden of proof will remain on HGG to show that it can evolve its model to play to its strengths and minimize its weaknesses."
For an analyst ratings summary and ratings history on hhgregg click here. For more ratings news on hhgregg click here.
Shares of hhgregg closed at $6.17 yesterday, with a 52 week range of $6.08-$16.65.
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Analyst, Michael Lasser, said, "As HGG’s core TV category declines with no apparent catalyst on the horizon, the company has refocused its efforts in other areas such as new products like home fitness (treadmills, ellipticals) and home entertainment furniture (TV stands, sofas, recliners). These categories could help the productivity of HGG’s boxes, but they also expose the company to new risks such as more intense showrooming & heavier inventory investment. The burden of proof will remain on HGG to show that it can evolve its model to play to its strengths and minimize its weaknesses."
For an analyst ratings summary and ratings history on hhgregg click here. For more ratings news on hhgregg click here.
Shares of hhgregg closed at $6.17 yesterday, with a 52 week range of $6.08-$16.65.
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