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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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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