hhgregg, Inc. (NYSE:HGG) a Sell: UBS

In a research note issued to investors, Michael Lasser at UBS Downgraded hhgregg, Inc. (NASDAQ:HGG) to a Sell. The analyst placed a $4.00 price target on the stock which indicates a 2.20% downside to the last closing price. In the year following Michael’s ratings, the stocks covered yield an average return of 14.0% according to TipRanks.com. In the past year 53 out of 79 recommendations or 67% were successful.

Wall Street sell-side analysts have placed a $5 one year price target on HHGregg, Inc. (NYSE:HGG). This is the consensus average based on 7 firms who have recently issued reports on the equity.

The average recommendation is the arithmetical average of the individual analyst ratings contributed by sell-side research to produce a Consensus Analyst Rating for each stock. On a scale of 1 to 5 where 1 represents a Strong Buy and 5 represents a Strong Sell,HHGregg, Inc. (NYSE:HGG) is ranked 3.17 based on 7 broker recommendations. Of the 7 analyst estimates, the most bullish sees the stock reaching $6 within the next 12 months while the most bearish analyst sees the stock at $3 within the year.

Taking a look at the long term growth prospects of the stock, sell-side analysts have a consensus mean earnings per share estimate for the current year of $-1.02. The high end estimate for this time frame is $-0.39 with the low being $-1.91.

According to analysts, HHGregg, Inc. (NYSE:HGG) is expected to report earnings per share for the current fiscal quarter of $-0.37. This is the consensus mean estimate based on the individual covering sell-side firm’s reported numbers. The company last reported earnings for the period ending on 2015-03-31 of $-0.47.

hhgregg, Inc. (hhgregg) is a specialty retailer of home appliances, televisions, computers, consumer electronics, mattresses and related services operating under the name hhgregg. As of March 31, 2012, it operated 208 stores in Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia. As of March 31, 2012, the Company carried approximately 100 models of flat panel televisions and 350 models of appliances. The Company offers a selection of video products, such as light emitting diode (LED) televisions and Blu-ray players. Representative brands include Coby, Curtis, Hisense, LG, Panasonic, Samsung, Sharp, Sony and Toshiba. During the fiscal year ended March 31, 2012 (fiscal 2012), video products represented 43% of net sales.