Needham & Company Downgrades Hibbett Sports (HIBB) to Hold; Valuation Call
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Price: $87.49 --0%
Rating Summary:
4 Buy, 21 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 21 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company downgraded Hibbett Sports (NASDAQ: HIBB) from Buy to Hold.
Analyst, Sean McGowan, said, "We are lowering our rating on HIBB to Hold, as the shares have performed exceptionally well lately and have essentially reached our 12-month price target of $50. (HIBB traded above $50 briefly yesterday, closing at $49.10.) We continue to be bullish on HIBB’s outlook, and are not changing our sales or EPS forecasts. We expect the company to report solid results on March 9th. However, the stock’s recent rise suggests expectations are already high, and we believe that management’s guidance for 2012 is likely to be conservative (as it typically is), which could result in the shares pulling back. We will revisit our stance at that time, taking into account any potential estimate changes as well as the stock’s current valuation."
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 $49.10 yesterday.
Analyst, Sean McGowan, said, "We are lowering our rating on HIBB to Hold, as the shares have performed exceptionally well lately and have essentially reached our 12-month price target of $50. (HIBB traded above $50 briefly yesterday, closing at $49.10.) We continue to be bullish on HIBB’s outlook, and are not changing our sales or EPS forecasts. We expect the company to report solid results on March 9th. However, the stock’s recent rise suggests expectations are already high, and we believe that management’s guidance for 2012 is likely to be conservative (as it typically is), which could result in the shares pulling back. We will revisit our stance at that time, taking into account any potential estimate changes as well as the stock’s current valuation."
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 $49.10 yesterday.
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