Hibbett Sports, Inc. (HIBB) Rating Increased to Hold at Forward View
Hibbett Sports, Inc. (NASDAQ:HIBB) was upgraded by Forward View to a “hold” rating in a report issued on Saturday. The brokerage presently has a $18.00 price objective on the stock. Forward View’s price objective would suggest a potential upside of 5.26% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Hibbett Sports from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Monday, July 24th. ValuEngine upgraded shares of Hibbett Sports from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. TheStreet downgraded shares of Hibbett Sports from a “c-” rating to a “d+” rating in a research report on Wednesday, September 6th. Canaccord Genuity set a $11.00 target price on shares of Hibbett Sports and gave the company a “hold” rating in a research report on Monday, August 21st. Finally, Stifel Nicolaus restated a “hold” rating and set a $12.00 price objective (down previously from $17.00) on shares of Hibbett Sports in a report on Sunday, August 20th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.22.
Hibbett Sports (NASDAQ HIBB) opened at $17.10 on Friday. Hibbett Sports has a 1 year low of $9.40 and a 1 year high of $43.40. The stock has a market cap of $351.23, a price-to-earnings ratio of 9.88, a P/E/G ratio of 6.11 and a beta of 0.72.
Hibbett Sports (NASDAQ:HIBB) last released its earnings results on Friday, November 17th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.15. Hibbett Sports had a net margin of 4.68% and a return on equity of 13.38%. The company had revenue of $237.80 million for the quarter, compared to the consensus estimate of $219.38 million. During the same quarter in the previous year, the company earned $0.66 EPS. Hibbett Sports’s quarterly revenue was up .3% compared to the same quarter last year. equities research analysts expect that Hibbett Sports will post 1.28 earnings per share for the current year.
In related news, insider Scott Justin Bowman purchased 3,000 shares of Hibbett Sports stock in a transaction that occurred on Wednesday, August 30th. The stock was bought at an average price of $11.84 per share, for a total transaction of $35,520.00. Following the completion of the transaction, 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 this link. Also, Director Michael J. Newsome purchased 10,000 shares of Hibbett Sports stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average price of $12.13 per share, with a total value of $121,300.00. Following the transaction, the director now owns 44,924 shares of the company’s stock, valued at approximately $544,928.12. The disclosure for this purchase can be found here. In the last quarter, insiders bought 25,500 shares of company stock valued at $312,595. 1.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of HIBB. JPMorgan Chase & Co. grew its position in Hibbett Sports by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 4,190 shares of the company’s stock valued at $123,000 after buying an additional 291 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Hibbett Sports during the third quarter valued at about $143,000. Municipal Employees Retirement System of Michigan grew its position in Hibbett Sports by 52.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,750 shares of the company’s stock valued at $161,000 after buying an additional 2,650 shares during the period. UBS Group AG grew its position in Hibbett Sports by 135.8% during the first quarter. UBS Group AG now owns 6,379 shares of the company’s stock valued at $188,000 after buying an additional 3,674 shares during the period. Finally, Macquarie Group Ltd. bought a new position in Hibbett Sports during the third quarter valued at about $204,000.
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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