Sterne Agee Reiterates Neutral On Hibbett Sports Following Meetings With Management
In a research report issued today, Sterne Agee analyst Sam Poser reiterated a Neutral rating on Hibbett Sports (NASDAQ:HIBB). No price target was provided.
Poser noted, “We hosted investor meetings with Jeff Rosenthal (CEO) & Scott Bowman (CFO). The underlying growth opportunities for HIBB remain intact. FY15 & FY16 will be years in which investments are made for a new DC, new POS systems, & an ecommerce platform. Ecommerce will take 2-2.5 years to fully roll out, but in the meantime the business is being managed well and new systems and DC should drive gross margin improvement. Management clearly has a strong sense of urgency to get the initiatives done.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Sam Poser has a total average return of 19.9% and a 72.9% success rate. Poser has a 21.3% average return when recommending HIBB, and is ranked #32 out of 3309 analysts.