Hibbett Sports, Inc. (HIBB) Upgraded at ValuEngine
Hibbett Sports, Inc. (NASDAQ:HIBB) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
Several other research analysts also recently weighed in on HIBB. TheStreet downgraded shares of Hibbett Sports from a “c-” rating to a “d+” rating in a research report on Wednesday, September 6th. Robert W. Baird set a $10.00 target price on shares of Hibbett Sports and gave the stock a “hold” rating in a research report on Friday, August 18th. BMO Capital Markets set a $10.00 target price on shares of Hibbett Sports and gave the stock a “hold” rating in a research report on Friday, August 18th. Stifel Nicolaus reissued a “hold” rating and issued a $17.00 target price (down from $25.00) on shares of Hibbett Sports in a research report on Tuesday, July 25th. Finally, Bank of America Corporation dropped their target price on shares of Hibbett Sports from $12.00 to $10.00 and set an “underperform” rating on the stock in a research report on Monday, August 21st. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.22.
Shares of Hibbett Sports (HIBB) traded down 1.46% on Wednesday, reaching $13.50. 652,499 shares of the company’s stock traded hands. Hibbett Sports has a 52 week low of $9.40 and a 52 week high of $45.85. The firm has a market capitalization of $277.28 million, a P/E ratio of 6.60 and a beta of 0.78. The company’s 50-day moving average is $13.22 and its 200-day moving average is $19.73.
Hibbett Sports (NASDAQ:HIBB) last released its earnings results on Friday, August 18th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.05. The business had revenue of $188.00 million for the quarter, compared to the consensus estimate of $190.31 million. Hibbett Sports had a net margin of 4.68% and a return on equity of 13.38%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. Equities research analysts anticipate that Hibbett Sports will post $1.30 earnings per share for the current fiscal year.
In related news, CEO Jeffry O. Rosenthal bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average price of $11.95 per share, with a total value of $29,875.00. Following the completion of the transaction, the chief executive officer now owns 82,703 shares of the company’s stock, valued at approximately $988,300.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Newsome bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average cost of $12.13 per share, for a total transaction of $121,300.00. Following the transaction, the director now directly owns 44,924 shares of the company’s stock, valued at approximately $544,928.12. The disclosure for this purchase can be found here. Insiders bought 25,500 shares of company stock valued at $312,595 over the last 90 days. 1.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in HIBB. Great West Life Assurance Co. Can increased its position in Hibbett Sports by 6.0% during the first quarter. Great West Life Assurance Co. Can now owns 31,027 shares of the company’s stock worth $914,000 after acquiring an additional 1,761 shares during the period. First Trust Advisors LP increased its position in Hibbett Sports by 50.5% during the first quarter. First Trust Advisors LP now owns 64,151 shares of the company’s stock worth $1,892,000 after acquiring an additional 21,535 shares during the period. Comerica Bank increased its position in Hibbett Sports by 0.9% during the first quarter. Comerica Bank now owns 24,304 shares of the company’s stock worth $629,000 after acquiring an additional 208 shares during the period. Karp Capital Management Corp bought a new position in Hibbett Sports during the first quarter worth $348,000. Finally, State of Tennessee Treasury Department increased its position in Hibbett Sports by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 21,422 shares of the company’s stock worth $632,000 after acquiring an additional 3,233 shares during the period.
About Hibbett Sports
Hibbett Sports, Inc operates athletic specialty stores in small and mid-sized markets in the South, Southwest, Mid-Atlantic and the Midwest regions of the United States. As of January 28, 2017, the Company had operated 1,078 stores consisting of 1,059 Hibbett Sports stores and 19 smaller-format Sports Additions athletic shoe stores in 35 states.
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