hhgregg Given New $7.50 Price Target at Piper Jaffray (HGG)
Equities researchers at Piper Jaffray decreased their target price on shares of hhgregg (NYSE:HGG) from $9.00 to $7.50 in a research report issued on Friday. Piper Jaffray’s price objective would suggest a potential upside of 8.23% from the company’s current price.
hhgregg (NYSE:HGG) traded down 2.53% on Friday, hitting $6.93. 423,274 shares of the company’s stock traded hands. hhgregg has a 1-year low of $6.92 and a 1-year high of $20.75. The stock has a 50-day moving average of $9.31 and a 200-day moving average of $9.34. The company has a market cap of $197.2 million and a P/E ratio of 888.75.
hhgregg (NYSE:HGG) last announced its earnings results on Thursday, July 31st. The company reported ($0.36) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.16) by $0.20. The company had revenue of $472.30 million for the quarter, compared to the consensus estimate of $490.50 million. During the same quarter last year, the company posted ($0.04) earnings per share. hhgregg’s revenue was down 10.0% compared to the same quarter last year. On average, analysts predict that hhgregg will post $0.15 earnings per share for the current fiscal year.
A number of other firms have also recently commented on HGG. Analysts at B. Riley reiterated a “neutral” rating on shares of hhgregg in a research note on Friday. They now have a $7.00 price target on the stock, down previously from $11.00. Separately, analysts at Jefferies Group cut their price target on shares of hhgregg from $8.50 to $7.00 in a research note on Friday. They now have a “hold” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of hhgregg in a research note on Monday, June 2nd. They now have a $8.00 price target on the stock, up previously from $7.00. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. hhgregg has a consensus rating of “Hold” and a consensus price target of $9.11.
hhgregg, Inc (NYSE:HGG) is a specialty retailer of home appliances, televisions, computers, consumer electronics, mattresses and related services operating under the name hhgregg.
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