Hibbett Sports Inc. (HIBB) Receives $39.69 Average Price Target from Brokerages
Hibbett Sports Inc. (NASDAQ:HIBB) has earned a consensus recommendation of “Hold” from the nineteen ratings firms that are covering the stock. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $40.00.
Several brokerages have recently weighed in on HIBB. Canaccord Genuity set a $40.00 price objective on Hibbett Sports and gave the company a “hold” rating in a report on Saturday. Zacks Investment Research upgraded Hibbett Sports from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Monday, October 24th. Brean Capital reiterated a “sell” rating on shares of Hibbett Sports in a research note on Thursday, September 22nd. Forward View upgraded shares of Hibbett Sports from a “hold” rating to a “buy” rating in a research note on Sunday, September 18th. Finally, B. Riley reiterated a “neutral” rating and issued a $42.00 target price on shares of Hibbett Sports in a research note on Saturday, August 27th.
Hibbett Sports (NASDAQ:HIBB) opened at 43.75 on Wednesday. The company’s 50-day moving average price is $40.22 and its 200 day moving average price is $37.16. The company has a market capitalization of $961.93 million, a price-to-earnings ratio of 14.27 and a beta of 0.85. Hibbett Sports has a 52 week low of $27.58 and a 52 week high of $43.95.
Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings data on Friday, August 19th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company earned $206.90 million during the quarter. Hibbett Sports had a return on equity of 22.04% and a net margin of 7.32%. Hibbett Sports’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. On average, analysts predict that Hibbett Sports will post $3.00 EPS for the current year.
In related news, Director Michael J. Newsome sold 10,000 shares of Hibbett Sports stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $39.97, for a total value of $399,700.00. Following the transaction, the director now directly owns 29,882 shares of the company’s stock, valued at $1,194,383.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Albert C. Johnson sold 1,000 shares of Hibbett Sports stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $38.81, for a total transaction of $38,810.00. Following the completion of the transaction, the director now directly owns 4,837 shares in the company, valued at $187,723.97. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in HIBB. Commerce Bank boosted its position in shares of Hibbett Sports by 0.5% in the second quarter. Commerce Bank now owns 9,615 shares of the company’s stock worth $334,000 after buying an additional 50 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of Hibbett Sports by 0.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,700 shares of the company’s stock worth $267,000 after buying an additional 60 shares during the period. Capstone Asset Management Co. boosted its position in shares of Hibbett Sports by 1.9% in the second quarter. Capstone Asset Management Co. now owns 7,373 shares of the company’s stock worth $257,000 after buying an additional 140 shares during the period. BlackRock Inc. boosted its position in shares of Hibbett Sports by 8.7% in the third quarter. BlackRock Inc. now owns 3,240 shares of the company’s stock worth $130,000 after buying an additional 260 shares during the period. Finally, Profund Advisors LLC boosted its position in shares of Hibbett Sports by 4.9% in the second quarter. Profund Advisors LLC now owns 7,304 shares of the company’s stock worth $254,000 after buying an additional 338 shares during the period.
Hibbett Sports Company Profile
Hibbett Sports, Inc operates sporting goods stores in small to mid-sized markets in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company operates approximately 1,040 stores in over 30 states, which consists of approximately 1,020 Hibbett Sports stores and over 20 Sports Additions athletic shoe stores.
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