Vince Martin
Long/short equity, value, gambling

Hibbett Sports: The Decline Is Too Much

HIBB data by YCharts

It's difficult in retrospect to see what exactly led to such a sharp decline for Hibbett Sports (NASDAQ:HIBB), whose shares at Friday's close of $29.79 are down 46% from 52-week highs. It hasn't been a great year for Hibbett, to be sure; comps are guided to be flat for the year. Original EPS guidance of $2.95-$3.09 has been pulled down, updated to $2.82-$2.89 in the third-quarter report (excluding a $0.05 benefit from a litigation settlement in Q3).

But neither factor really seems to drive the level of pessimism, particularly seen of late; a ~5.5% decrease in the midpoint of EPS guidance and flat comps against a significant multi-year stack don't seem to change the

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