Market Overview

UPDATE: Canaccord Genuity Reiterates Hold Rating, Raises PT on Hibbett Sports

Related HIBB
Top Performing Industries For December 12, 2014
Worst Performing Industries For November 25, 2014
Mid-Market Businesses Poised for Growth (Fox Business)

In a report published Monday, Canaccord Genuity reiterated its Hold rating on Hibbett Sports (NASDAQ: HIBB), and slightly raised its price target from $55.00 to $56.00.

Canaccord Genuity noted, “HIBB reported good Q3 results of $0.71 vs. our $0.68 consensus estimate. Relative to our model, an impressive gross margin (+2c) and less expense dollar growth (+1c) drove the beat. 2012 guidance was raised to $2.66-$2.71, implying Q4 of 71c, below our 73c estimate. While we consider HIBB to have solid growth potential, current real estate constraints/low sq. ft. growth coupled with choppy comp trends keep us HOLD rated, but we are raising our target $1 to $56.”

Hibbett Sports closed on Friday at $54.05.

Latest Ratings for HIBB

DateFirmActionFromTo
Nov 2014Bank of AmericaMaintainsNeutral
Oct 2014Bank of AmericaDowngradesBuyNeutral
Sep 2014Piper JaffrayDowngradesOverweightNeutral

View More Analyst Ratings for HIBB
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

Related Articles (HIBB)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional