Hibbett Sports (HIBB) PT Raised to $22 at Canaccord Genuity Following 4Q

Canaccord Genuity analyst Camilo Lyon raised the price target on Hibbett Sports (NASDAQ: HIBB) to $22.00 (from $20.00) while maintaining a Hold rating following the company's 4Q earnings report. HIBB reported adjusted EPS of 57c coming in meaningfully ahead of the consensus of 39c.

Initial F20 guidance calls for adjusted EPS of $1.80-$2.00 (vs. consensus at $1.74) based on -1% to +1% comp, gross margin contraction of 35-55bps, flat SG&A margin, and tax rate of 24.5%. Buybacks are planned to total $10-$15M in F20.

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