Canaccord Genuity Maintains a 'Hold' on Hibbett Sports (HIBB); Solid Quarter, But Valuation Looks Full

Canaccord Genuity maintains a 'Hold' on Hibbett Sports (NASDAQ: HIBB) price target raised from $49 to $52.

Analyst, Camilo Lyon, said, "HIBB reported Q1 EPS of $0.98 vs. our estimate and consensus of $0.92, driven by an 11.1% comp (+$0.03) and gross margin improvement (+$0.04), partially offset by higher SG&A expense (-$0.01) and tax (-$0.01) relative to our model. While HIBB is benefiting from the athletic cycle and continues to perform well, tepid sq. ft. growth keeps us on the sidelines as we believe the stock’s 22x premium valuation makes the risk/reward unfavorable."

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 $54.94 yesterday.

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