Hibbett Sports, Inc. (HIBB) Stock Rating Upgraded by Forward View
Hibbett Sports, Inc. (NASDAQ:HIBB) was upgraded by investment analysts at Forward View from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, May 22nd.
Several other analysts have also issued reports on the stock. Feltl & Co. raised shares of Hibbett Sports from a “hold” rating to a “buy” rating in a research report on Monday, May 22nd. Vetr raised shares of Hibbett Sports from a “buy” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research note on Monday, April 17th. Goldman Sachs Group, Inc. (The) raised shares of Hibbett Sports from a “sell” rating to a “neutral” rating and set a $34.00 price target for the company in a research note on Monday, January 30th. They noted that the move was a valuation call. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $32.00 price objective (down from $33.00) on shares of Hibbett Sports in a report on Tuesday, April 18th. Finally, Stephens lowered shares of Hibbett Sports from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.40.
Shares of Hibbett Sports (NASDAQ HIBB) traded down 1.11% during midday trading on Monday, hitting $22.30. The stock had a trading volume of 740,274 shares. Hibbett Sports has a 1-year low of $21.85 and a 1-year high of $45.85. The firm has a market capitalization of $463.08 million, a PE ratio of 9.14 and a beta of 0.77. The company’s 50 day moving average price is $23.87 and its 200-day moving average price is $30.49.
Hibbett Sports (NASDAQ:HIBB) last posted its quarterly earnings results on Thursday, May 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. Hibbett Sports had a net margin of 5.59% and a return on equity of 16.39%. The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $275.49 million. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts predict that Hibbett Sports will post $2.43 earnings per share for the current year.
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In related news, SVP Jared S. Briskin sold 3,040 shares of the firm’s stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $28.47, for a total value of $86,548.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of HIBB. BlackRock Inc. raised its position in Hibbett Sports by 94,396.9% in the first quarter. BlackRock Inc. now owns 2,945,468 shares of the company’s stock valued at $86,891,000 after buying an additional 2,942,351 shares during the last quarter. Oak Ridge Investments LLC purchased a new position in Hibbett Sports during the third quarter valued at approximately $39,643,000. Royce & Associates LP purchased a new position in Hibbett Sports during the fourth quarter valued at approximately $26,229,000. Nordea Investment Management AB purchased a new position in Hibbett Sports during the third quarter valued at approximately $13,132,000. Finally, Arrowpoint Asset Management LLC increased its stake in Hibbett Sports by 14.3% in the fourth quarter. Arrowpoint Asset Management LLC now owns 2,533,410 shares of the company’s stock valued at $94,496,000 after buying an additional 316,866 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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