Sterne Agee CRT Upgrades Hibbett Sports (HIBB) to Neutral

Sterne Agee CRT upgraded Hibbett Sports (NASDAQ: HIBB) from Underperform to Neutral, saying risks appear priced in.

Analyst Sam Poser commented, "At current valuation, the stock incorporates the pressures and risks that come the lack of an e-commerce business. The following are some of the risks and pressures: 1) HIBB is ceding business to its competitors, which are investing greatly in their digital businesses. 2) Digital business not likely to be in place until fiscal '18. 3) Lack of e-commerce to continue to pressure store traffic. Hibbett's attributes: 1) Small markets are relevant and Nike is supportive. 2) Benefits will come from Markdown Optimization and new DC. 3) Move to e-commerce is underway, though at a slow pace."

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 $44.03 yesterday.

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