UPDATE - Canaccord Genuity Initiates Coverage on Hibbett Sports (HIBB) with a Hold; Beneficiary of the Cycle, but Sq. Ft. Growth Remains Elusive
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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!
UPDATE - Canaccord Genuity initiates coverage on Hibbett Sports (Nasdaq: HIBB) with a Hold rating. PT $39.
Canaccord analyst, Camilo Lyon, said, "While HIBB has done well to leverage the product cycle vis-à-vis comp and gross margin expansion, square footage growth has been elusive. Until the company can re-accelerate new store openings, we believe the risk/reward profile is balanced."
"Sq. ft. growth has been a lackluster 3.5% due to a dearth of new construction in HIBB’s key markets. For comp growth to maintain its current pace, we believe the company must re-accelerate new store openings. Thus far, we have seen no evidence to suggest growth will resume to its double-digit pace. Until we do, we remain on the sidelines."
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Canaccord analyst, Camilo Lyon, said, "While HIBB has done well to leverage the product cycle vis-à-vis comp and gross margin expansion, square footage growth has been elusive. Until the company can re-accelerate new store openings, we believe the risk/reward profile is balanced."
"Sq. ft. growth has been a lackluster 3.5% due to a dearth of new construction in HIBB’s key markets. For comp growth to maintain its current pace, we believe the company must re-accelerate new store openings. Thus far, we have seen no evidence to suggest growth will resume to its double-digit pace. Until we do, we remain on the sidelines."
To see more ratings changes on HIBB, Click Here
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