Sterne Agee CRT Remain Neutral on Hibbett Sports (HIBB) Following 2Q15

Sterne Agee CRT reiterated a Neutral rating on Hibbett Sports (NASDAQ: HIBB) following the company's 2Q15 earnings results. HIBB reported EPS of $0.28, in line with the updated guidance provided on August 10 of $0.26-$0.28. FY16 EPS guidance was reduced from $2.95-$3.04 to $2.80-$2.90. SSS are now expected to be flat to up low single range as compared to prior guidance for an increase of low single digits.

Analyst Sam Poser commented, "We remain Neutral as the bad news is baked into the stock price. The further reduced FY16 guidance is likely achievable given the later back-to-school season and strong overall trends. Without an e-commerce platform, HIBB continues to cede business to its competitors. It appears as if HIBB will not have an e-commerce platform in place until late 2017 (FY18), though HIBB will be aided by its new DC and price optimization system, as well as more focused assortments that are delivering now as the result of a senior merchant change. However, it still appears as if HIBB will be a market share donor over the next few years. SSS increased HSD thus far in 3Q, as a result of the shift of the tax-free holidays out of 2Q."

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 $37.37 yesterday.

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