UPDATE: Feltl and Company Downgrades Hibbett Sports to Hold

Feltl and Company has published a research report on Hibbett Sports

and has downgraded the company from Buy to Hold after better than expected 4Q earnings. In the report, Feltl and Company writes, "We are downgrading our rating based on valuation. We think the positive results and outlook are currently priced into the shares. Our earnings estimates for F2013 and F2014 are currently street high, yet we still think the shares are nearly fully valued. We would turn more positive if comps improve more than expected, margin improves or if the share traded below $47 with no change in fundamentals." Feltl and Company has raised the price target from $51 to $54 on Hibbett Sports, which is currently trading down $1.20 from yesterday's $51.64 closing price.