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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.

HIBBCredit 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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