Canaccord Genuity Lowers Hibbett Sports, Inc. (HIBB) Price Target to $14.00
Hibbett Sports, Inc. (NASDAQ:HIBB) had its price target lowered by analysts at Canaccord Genuity from $22.00 to $14.00 in a research note issued on Tuesday. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 6.87% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. Feltl & Co. raised Hibbett Sports from a “hold” rating to a “buy” rating in a research report on Monday, May 22nd. Vetr raised Hibbett Sports from a “buy” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research report on Monday, April 17th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $32.00 target price (down from $33.00) on shares of Hibbett Sports in a research report on Tuesday, April 18th. Zacks Investment Research cut Hibbett Sports from a “hold” rating to a “strong sell” rating in a research report on Monday, May 1st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price (down from $27.00) on shares of Hibbett Sports in a research report on Friday, May 19th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.11.
Hibbett Sports (HIBB) traded up 6.49% during midday trading on Tuesday, reaching $13.95. The company’s stock had a trading volume of 1,028,589 shares. The firm has a market capitalization of $289.69 million, a PE ratio of 5.72 and a beta of 0.77. The stock’s 50-day moving average price is $20.88 and its 200 day moving average price is $26.86. Hibbett Sports has a 1-year low of $12.90 and a 1-year high of $45.85.
Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings data on Thursday, May 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $275.49 million. Hibbett Sports had a return on equity of 16.39% and a net margin of 5.59%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 EPS. Equities analysts anticipate that Hibbett Sports will post $2.41 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Hibbett Sports by 94,396.9% in the first quarter. BlackRock Inc. now owns 2,945,468 shares of the company’s stock worth $86,891,000 after buying an additional 2,942,351 shares during the period. FMR LLC increased its position in shares of Hibbett Sports by 3.9% in the first quarter. FMR LLC now owns 2,660,436 shares of the company’s stock worth $78,483,000 after buying an additional 100,929 shares during the period. Vanguard Group Inc. increased its position in shares of Hibbett Sports by 7.5% in the first quarter. Vanguard Group Inc. now owns 2,004,952 shares of the company’s stock worth $59,147,000 after buying an additional 140,569 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Hibbett Sports by 25.2% in the first quarter. Dimensional Fund Advisors LP now owns 800,637 shares of the company’s stock worth $23,619,000 after buying an additional 161,035 shares during the period. Finally, Champlain Investment Partners LLC increased its position in shares of Hibbett Sports by 10.3% in the first quarter. Champlain Investment Partners LLC now owns 773,590 shares of the company’s stock worth $22,821,000 after buying an additional 72,530 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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