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TMCNet:  Downgrade Alert for hhgregg (HGG)

[February 05, 2013]

Downgrade Alert for hhgregg (HGG)

Feb 05, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- hhgregg (NYSE:HGG) was downgraded from Neutral to Underperform at Credit Suisse today. The stock closed yesterday at $9.39 on volume of 458,000 shares, above average daily volume of 432,000. hhgregg, Inc. retails video products, brand name appliances, audio products and accessories.

Based on a current price of $9.40, hhgregg is currently 15.2% above its average consensus analyst price target of $7.97. The stock should find initial support at its 200-day moving average (MA) of $8.30 and further support at its 50-day MA of $7.62.

Over the past year, hhgregg has traded in a range of $5.84 to $13.12 and closed yesterday at $9.40, 61% above that low. The 200-day and 50-day moving averages have moved 0.29% lower and 0.73% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of hhgregg on November 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.16. Since that recommendation, shares of hhgregg have risen 15.3%. We continue to monitor HGG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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