Needham & Company Downgrades Hibbett Sports (HIBB) to Buy; Valuation Call - Expect Strong Growth To Continue, Despite Tough Comps

Needham & Company downgraded Hibbett Sports (NASDAQ: HIBB) from Strong Buy to Buy with a price target of $47.00.

Needham analyst says, "We are lowering our rating on HIBB due to the fact that the shares now trade less than 10% below our target price. HIBB is scheduled to report 3Q results on Friday, November 18th, before the open. We expect same-store-sales rose 4%, against 12.5% a year ago, and that EPS were $0.52 vs. $0.44 last year. Consensus is for EPS of $0.51 on a rise in SSS of 4.4%. HIBB shares have risen 36% since October 3rd, suggesting broad expectation of strong results. The shares are now only 6% of our $47 price target."

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 $44.13 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Canaccord Downgrades York Space Systems (YSS) to Hold, 'Supply chain and contract timing uncertainty'
• B.Riley Downgrades Lantheus Holdings (LNTH) to Neutral
• BWS Financial Downgrades Inter Parfums (IPAR) to Sell