For Immediate Release
Chicago, IL – November 29, 2011 – Zacks Equity Research
highlights Hibbett Sporting Goods (HIBB) as the
Bull of the Day and Ingram Micro (IM) as the Bear
of the Day. In addition, Zacks Equity Research provides analysis on
CME Group (CME), Goldman Sachs
(GS) and UBS AG (UBS).
Full analysis of all these stocks is available at
http://at.zacks.com/?id=2678.
Here is a synopsis of all five stocks:
Bull of the Day:
Hibbett Sporting Goods' (HIBB) earnings of
$0.59 per share for the third quarter ended October 2011 beat the
Zacks Consensus Estimate of $0.51 and surged 34% from the
prior-year quarter on the heels of robust performance of footwear
and apparel sales along with operational efficiencies. Management
has raised its earnings guidance for the current fiscal year to a
range of $2.05 to $2.11 a share.
Management also remains committed to expanding the store
network. Moreover, Hibbett's sharp focus on mid-sized and smaller
markets and strategic mix of branded as well as localized
merchandise provide an edge over its rivals. Also, the company has
a healthy balance sheet with no bank debt.
Our long-term Outperform recommendation on the stock indicates
that it would perform well above the market. Our target price of
$47.00, 22.2x 2011 EPS, reflects this view.
Bear of the Day:
Ingram Micro (IM) is one of the world's largest
distributors of IT products. The company failed to impress with its
third quarter 2011 results. Moreover, the soft retail sector in
Europe and the Asia-Pacific, as well as the ERP transition issue in
Australia resulted in an unexciting 2011 guidance.
Though management appears confident about most of the near-term
issues and the regaining of market share in Australia, we remain
cautious. Also, while the company's strategic partnerships with IT
giants are encouraging, its significant European exposure, high
dependence on IT spending and debt-laden balance sheet are causes
for concern.
Hence, we have downgraded the stock to Underperform from
Neutral. Our target price of $16.00 reflects a P/E multiple of 9.9x
our 2011 EPS estimate, which is at a slight premium to the industry
average.
Latest Posts on the Zacks Analyst Blog:
Jon Corzine: Turkey of the Year
The collapse of MF Global will have many fascinating story lines
to uncover over the next several months. Here are at least
four...
1) How did regulators like FINRA, which noticed leverage
problems with the firm's $6.3 billion bet on European debt over the
summer, not act sooner and more decisively to prevent the
questionable speculation with other people's money from ending very
badly?
2) Between $600 million and $1.2 billion in funds are missing.
What's more interesting to me than where the money is found, is how
it got illegally moved from customer segregated accounts in the
first place.
Did Jon Corzine call the shots? We may never know if he pleads
the fifth next month and no one else tells the truth.
3) What does this mean for futures exchanges like CME
Group (CME) who up till now have maintained a spotless
record of protecting customer funds involved in trading positions
through a rigorous risk control system using mark-to-market against
exchange-monitored collateral?
It's one thing for an exchange to be vigorous with the trading
risk and collateral it watches every second of the day, and another
to be responsible for constantly auditing the cash balances of tens
of thousands of customer trading accounts not directly under its
control and spread around the world.
4) If we do get more facts on how the former Goldman
Sachs (GS) chief may have gambled away the money and
livelihoods of thousands of people, what will we learn about the
decision-making processes of an apparently upstanding citizen who
served New Jersey for nearly a decade as both a US Senator and its
Governor?
I can take a shot at giving you a preview of the answer to
number four because I predicted something like this would happen
(again) in a July 2008 article I wrote for SFO Magazine, "The
Mental Models of Financial Sabotage."
So even before we learned of Bernie Madoff's enormous ponzi
scheme in December 2008, Raj Rajaratnam's insider-trading club in
October 2009, and the hidden $2 billion shank by a UBS
AG (UBS) trader recently, I made a list of the biggest
rogue traders and hedge fund blow-ups and proposed that they would
keep on happening.
Get the full analysis of all these stocks by going to
http://at.zacks.com/?id=2649.
About the Bull and Bear of the Day
Every day, the analysts at Zacks Equity Research select two
stocks that are likely to outperform (Bull) or underperform (Bear)
the markets over the next 3-6 months.
About the Analyst Blog
Updated throughout every trading day, the Analyst Blog provides
analysis from Zacks Equity Research about the latest news and
events impacting stocks and the financial markets.
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Continuous analyst coverage is provided for a universe of 1,150
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CME GROUP INC (CME): Free Stock Analysis Report
GOLDMAN SACHS (GS): Free Stock Analysis Report
HIBBET SPORTS (HIBB): Free Stock Analysis Report
INGRAM MICRO (IM): Free Stock Analysis Report
UBS AG (UBS): Free Stock Analysis Report
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