Hibbett Sports Downgrade, Guidance Pushes HIBB Sharply Lower

Credit Suisse has downgraded the stock from Neutral to Underperform

   

Hibbett Sports Downgrade, Guidance Pushes HIBB Sharply Lower

Hibbett Sports (HIBB) stock took a hit on Friday after receiving a downgrade.

Hibbett Sports Hibbett Sports Downgrade, Guidance Pushes HIBB Sharply LowerCredit 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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