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Hibbett Sports (NASDAQ:HIBB) was downgraded by investment analysts at Credit Suisse from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, reports. They currently have a $42.00 target price on the stock, down from their previous target price of $50.00. Credit Suisse’s price objective suggests a potential downside of 6.21% from the company’s current price.

Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets initiated coverage on shares of Hibbett Sports in a research note on Tuesday, June 24th. They set an “outperform” rating and a $64.00 price target on the stock. Analysts at Canaccord Genuity cut their price target on shares of Hibbett Sports from $53.00 to $50.00 in a research note on Monday, May 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $56.89.

Shares of Hibbett Sports (NASDAQ:HIBB) traded down 10.57% during mid-day trading on Friday, hitting $44.78. 1,414,116 shares of the company’s stock traded hands. Hibbett Sports has a 52-week low of $43.51 and a 52-week high of $68.31. The stock’s 50-day moving average is $52.46 and its 200-day moving average is $54.83. The company has a market cap of $1.147 billion and a P/E ratio of 17.97.

Hibbett Sports (NASDAQ:HIBB) last announced its earnings results on Friday, May 23rd. The company reported $1.09 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.09. The company had revenue of $261.90 million for the quarter, compared to the consensus estimate of $263.69 million. During the same quarter in the prior year, the company posted $1.00 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Hibbett Sports will post $2.78 earnings per share for the current fiscal year.

Hibbett Sports, Inc operates sporting goods stores in small and mid-sized markets predominantly in the South, Southwest, Mid-Atlantic and the Midwest.

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