JPMorgan Chase & Co. Reiterates Neutral Rating for hhgregg (HGG)
hhgregg (NYSE:HGG)‘s stock had its “neutral” rating reiterated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Tuesday. They currently have a $7.00 price target on the stock, down from their previous price target of $8.00. JPMorgan Chase & Co.’s price target would indicate a potential upside of 2.49% from the company’s current price.
Shares of hhgregg (NYSE:HGG) traded up 2.20% on Tuesday, hitting $6.98. 34,173 shares of the company’s stock traded hands. hhgregg has a 1-year low of $6.78 and a 1-year high of $20.75. The stock has a 50-day moving average of $9.22 and a 200-day moving average of $9.28. The company’s market cap is $198.2 million.
hhgregg (NYSE:HGG) last issued its quarterly earnings data 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 $-0.12 earnings per share for the current fiscal year.
HGG has been the subject of a number of other recent research reports. Analysts at Piper Jaffray cut their price target on shares of hhgregg from $9.00 to $7.50 in a research note on Friday. Separately, 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. Finally, analysts at Jefferies Group reiterated a “hold” 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 $8.50. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $8.96.
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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