Needham & Company Maintains a 'Buy' on Hibbett Sports (HIBB); Cutting EPS Estimates To Reflect Lower Expected Expense Leverage

Needham & Company maintains a 'Buy' on Hibbett Sports (NASDAQ: HIBB), PT $38.

Needham analyst says, "We’ve increased our FY’11 SSS estimate to 6.0% from 4.0% but have moderated our gross and operating margin estimates. Our FY’11 EPS estimate is now $1.90, at the high end of guidance and vs. our prior estimate of $1.95. We’re maintaining our FY’12 SSS and net sales estimates but have lowered our margin estimates. We now estimate FY’12 EPS of $2.15, down from $2.25 previously. We are introducing a 2013 EPS estimate of $2.50. We believe in 12 months investors will be valuing HIBB based on prospects for forward 12-month EPS (ending April 2013)."

For more ratings news on Hibbett Sports click here and for the rating history of Hibbett Sports click here.

Shares of Hibbett Sports closed at $32.61 yesterday.

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