Hibbett Sports Downgrade, Guidance Pushes HIBB Sharply Lower
Credit Suisse has downgraded the stock from Neutral to Underperform
Hibbett Sports (HIBB) stock took a hit on Friday after receiving a downgrade.
Credit Suisse has changed its rating on sporting goods retailer from Neutral to Underperform. The financial services company has also lowered the price target of HIBB from $50 to $42.
Hibbett Sports received the downgrade after announcing that its earnings-per-share is expected to be in in the range of $0.30 to $0.32. The consensus estimate stands at $0.41.
The company also lowered its full-year 2014 EPS guidance from a range of $2.78 to $2.98 to a range of $2.63 to $2.73. Analysts predicted an average EPS guidance of $2.89.
HIBB stock is down about 8.75% Friday afternoon.
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Article printed from InvestorPlace Media, http://investorplace.com/2014/08/hibbett-sports-hibb/.
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