Hibbett Sports Inc. (HIBB) Raised to Buy at Forward View
Hibbett Sports Inc. (NASDAQ:HIBB) was upgraded by analysts at Forward View from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.
A number of other equities research analysts also recently weighed in on the company. Brean Capital reaffirmed a “sell” rating and set a $33.00 price target on shares of Hibbett Sports in a research note on Monday, August 22nd. Zacks Investment Research raised Hibbett Sports from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Thursday, August 11th. Goldman Sachs Group Inc. reissued a “sell” rating on shares of Hibbett Sports in a research note on Monday, August 15th. Stifel Nicolaus began coverage on Hibbett Sports in a research note on Friday, June 24th. They issued a “hold” rating on the stock. Finally, Canaccord Genuity reissued a “hold” rating and issued a $36.00 price objective on shares of Hibbett Sports in a research note on Wednesday, August 17th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.18.
Shares of Hibbett Sports (NASDAQ:HIBB) traded down 0.22% on Friday, reaching $40.63. 34,577 shares of the company traded hands. The firm has a 50-day moving average of $37.93 and a 200-day moving average of $35.86. Hibbett Sports has a 52-week low of $27.58 and a 52-week high of $41.49. The company has a market capitalization of $893.33 million, a PE ratio of 13.25 and a beta of 1.08.
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Hibbett Sports (NASDAQ:HIBB) last posted its quarterly earnings results on Friday, August 19th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. Hibbett Sports had a return on equity of 22.04% and a net margin of 7.32%. The company earned $206.90 million during the quarter. During the same period last year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Hibbett Sports will post $3.00 earnings per share for the current fiscal year.
In other Hibbett Sports news, Director Albert C. Johnson sold 1,000 shares of Hibbett Sports stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $38.81, for a total value of $38,810.00. Following the completion of the transaction, the director now owns 4,837 shares in the company, valued at approximately $187,723.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alton E. Yother sold 1,331 shares of Hibbett Sports stock in a transaction on Monday, July 11th. The shares were sold at an average price of $35.62, for a total value of $47,410.22. Following the completion of the transaction, the director now owns 1,331 shares of the company’s stock, valued at approximately $47,410.22. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors increased its position in shares of Hibbett Sports by 2.1% in the second quarter. BlackRock Fund Advisors now owns 1,468,239 shares of the company’s stock valued at $51,080,000 after buying an additional 29,655 shares during the last quarter. Boston Partners acquired a new position in shares of Hibbett Sports during the fourth quarter valued at about $41,565,000. TimesSquare Capital Management LLC increased its position in shares of Hibbett Sports by 51.2% in the second quarter. TimesSquare Capital Management LLC now owns 1,270,150 shares of the company’s stock valued at $44,189,000 after buying an additional 429,850 shares during the last quarter. Epoch Investment Partners Inc. increased its position in shares of Hibbett Sports by 21.4% in the fourth quarter. Epoch Investment Partners Inc. now owns 980,325 shares of the company’s stock valued at $29,645,000 after buying an additional 172,555 shares during the last quarter. Finally, GW&K Investment Management LLC increased its position in shares of Hibbett Sports by 9.0% in the first quarter. GW&K Investment Management LLC now owns 893,843 shares of the company’s stock valued at $32,089,000 after buying an additional 73,997 shares during the last quarter.
About Hibbett Sports
Hibbett Sports, Inc operates sporting goods stores in small to mid-sized markets, predominantly in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company operates around 988 retail stores in 31 states consisting of approximately 969 Hibbett Sports stores and around 19 Sports Additions athletic shoe stores.
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