Canaccord Genuity Reiterates a 'Hold' on Hibbett Sports (HIBB); Stong Q3 EPS, but Risk/Reward Balanced

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November 21, 2011 8:22 AM EST
Get Alerts HIBB Hot Sheet
Price: $87.49 --0%

Rating Summary:
    4 Buy, 21 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Hold' on Hibbett Sports (NASDAQ: HIBB) price target raised from $39 to $45.

Canaccord analyst, Camilo Lyon, "IBB reported Q3/11 EPS of $0.59 vs. our estimate of $0.50 and consensus of $0.51. The beat was driven by a 7% comp (+$0.01), gross margin expansion (+$0.06), favorable tax and shares (+$0.02). As we anticipated, HIBB delivered a solid quarter. While HIBB is benefiting from the athletic cycle and also executing well, we believe the risk/reward at current levels is balanced (Lyon cites challenging real estate environment)."

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 $43.30 yesterday.

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