Hibbett Sports, Inc. (HIBB) Cut to Sell at Forward View
Forward View lowered shares of Hibbett Sports, Inc. (NASDAQ:HIBB) to a sell rating in a research report released on Monday morning. Forward View currently has $10.00 price target on the stock. Forward View also issued estimates for Hibbett Sports’ Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $1.25 EPS, Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at ($0.17) EPS, Q3 2019 earnings at $0.22 EPS, Q4 2019 earnings at $0.26 EPS and FY2019 earnings at $0.84 EPS.
Other analysts have also recently issued reports about the company. Canaccord Genuity set a $25.00 price objective on Hibbett Sports and gave the stock a hold rating in a report on Friday, May 19th. B. Riley restated a neutral rating and set a $29.00 target price on shares of Hibbett Sports in a research report on Wednesday, May 17th. Stifel Nicolaus restated a hold rating and set a $25.00 target price (down from $27.00) on shares of Hibbett Sports in a research report on Friday, May 19th. BidaskClub upgraded Hibbett Sports from a strong sell rating to a sell rating in a research report on Wednesday, July 19th. Finally, Credit Suisse Group reiterated an underperform rating and issued a $14.00 price objective (down from $24.00) on shares of Hibbett Sports in a research report on Tuesday, July 25th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $21.89.
Hibbett Sports (HIBB) opened at 12.30 on Monday. Hibbett Sports has a 52-week low of $9.40 and a 52-week high of $45.85. The company has a market cap of $255.61 million, a price-to-earnings ratio of 6.01 and a beta of 0.71. The stock’s 50 day moving average is $14.60 and its 200 day moving average is $22.98.
Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings data on Friday, August 18th. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. The firm had revenue of $188 million during the quarter, compared to analysts’ expectations of $190.31 million. Hibbett Sports had a return on equity of 13.38% and a net margin of 4.68%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. Equities research analysts forecast that Hibbett Sports will post $1.30 earnings per share for the current year.
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In other Hibbett Sports news, insider Scott Justin Bowman purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average price of $11.84 per share, for a total transaction of $35,520.00. Following the purchase, the insider now owns 7,883 shares in the company, valued at $93,334.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffry O. Rosenthal purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average price of $11.95 per share, for a total transaction of $29,875.00. Following the purchase, the chief executive officer now owns 82,703 shares in the company, valued at approximately $988,300.85. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 15,500 shares of company stock worth $186,695. Company insiders own 1.60% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Hibbett Sports during the second quarter worth $2,159,000. Public Employees Retirement System of Ohio boosted its stake in Hibbett Sports by 1.7% in the second quarter. Public Employees Retirement System of Ohio now owns 45,288 shares of the company’s stock worth $940,000 after buying an additional 771 shares during the period. Koch Industries Inc. acquired a new stake in Hibbett Sports during the second quarter worth $313,000. Verition Fund Management LLC acquired a new stake in Hibbett Sports during the second quarter worth $280,000. Finally, Dean Capital Management acquired a new stake in Hibbett Sports during the second quarter worth $3,133,000.
Hibbett Sports Company Profile
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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