Hibbett Sports Receives Neutral Rating from Zacks (HIBB)
Hibbett Sports (NASDAQ:HIBB)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Friday, American Banking and Market News reports. They currently have a $59.00 target price on the stock. Zacks‘ price target would suggest a potential upside of 4.42% from the company’s current price.
Zacks‘ analyst wrote, “We remain impressed with Hibbett’s sustained focus on expanding store network and improving store productivity, which are the key revenue drivers for the stock. Moreover, we believe that the strategy of doubling the distribution facility’s size will aid the company to keep its growth momentum in mid-sized and smaller markets, which constitute the company’s primary focus. Moreover, Hibbett’s debt-free balance sheet provides it financial flexibility to drive future growth. However, anticipating competitive risks from DICK’s Sporting’s strategic move of entering smaller and mid-sized markets, we remain skeptical about the stock’s performance. Moreover, we believe that due to lack of new construction activities in smaller markets, Hibbett’s store expansion plans may get delayed. Therefore, we are maintaining our long-term Neutral stance on the stock.”
Shares of Hibbett Sports (NASDAQ:HIBB) traded up 0.62% on Friday, hitting $56.85. The stock had a trading volume of 91,656 shares. Hibbett Sports has a 1-year low of $49.78 and a 1-year high of $62.24. The stock’s 50-day moving average is $54.66 and its 200-day moving average is $56.13. The company has a market cap of $1.477 billion and a P/E ratio of 19.89.
Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings data on Friday, August 23rd. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.01. The company had revenue of $186.20 million for the quarter, compared to the consensus estimate of $186.32 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. On average, analysts predict that Hibbett Sports will post $2.75 earnings per share for the current fiscal year.
HIBB has been the subject of a number of other recent research reports. Analysts at Feltl & Co. cut their price target on shares of Hibbett Sports (NASDAQ:HIBB) from $60.00 to $57.00 in a research note to investors on Friday, August 30th. They now have a “hold” rating on the stock. Separately, analysts at Susquehanna cut their price target on shares of Hibbett Sports (NASDAQ:HIBB) from $65.00 to $61.00 in a research note to investors on Monday, August 26th. They now have a “positive” rating on the stock. Finally, analysts at Sterne Agee cut their price target on shares of Hibbett Sports (NASDAQ:HIBB) from $65.00 to $64.00 in a research note to investors on Monday, August 26th. They now have a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Hibbett Sports has an average rating of “Hold” and an average price target of $56.78.
Hibbett Sports, Inc is an operator of sporting goods retail stores in small to mid-sized markets predominately in the Southeast, Southwest, Mid-Atlantic and Midwest regions of the United States.
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