Hibbett Sports, Inc. (HIBB) Stock Rating Lowered by Buckingham Research
Hibbett Sports, Inc. (NASDAQ:HIBB) was downgraded by investment analysts at Buckingham Research from a “neutral” rating to an “underperform” rating in a report released on Tuesday. They presently have a $13.00 target price on the stock. Buckingham Research’s price objective indicates a potential downside of 32.11% from the stock’s previous close.
HIBB has been the topic of several other reports. TheStreet downgraded Hibbett Sports from a “c-” rating to a “d+” rating in a research note on Wednesday, September 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $17.00 target price (down from $25.00) on shares of Hibbett Sports in a research note on Tuesday, July 25th. Credit Suisse Group reiterated an “underperform” rating and issued a $14.00 target price (down from $24.00) on shares of Hibbett Sports in a research note on Tuesday, July 25th. BMO Capital Markets set a $10.00 target price on Hibbett Sports and gave the company a “hold” rating in a research note on Friday, August 18th. Finally, Robert W. Baird set a $10.00 target price on Hibbett Sports and gave the company a “hold” rating in a research note on Friday, August 18th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Hibbett Sports currently has a consensus rating of “Hold” and an average price target of $22.56.
Hibbett Sports (NASDAQ HIBB) opened at $19.15 on Tuesday. The company has a market capitalization of $382.04, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 5.94 and a beta of 0.72. Hibbett Sports has a 12-month low of $9.40 and a 12-month high of $43.40.
Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings results on Friday, November 17th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.22 by $0.15. The company had revenue of $237.80 million for the quarter, compared to analyst estimates of $219.38 million. Hibbett Sports had a return on equity of 11.38% and a net margin of 3.94%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. research analysts predict that Hibbett Sports will post 1.45 earnings per share for the current fiscal year.
In other news, Director Ralph T. Parks bought 10,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were bought at an average cost of $12.59 per share, for a total transaction of $125,900.00. Following the completion of the transaction, the director now owns 22,802 shares in the company, valued at $287,077.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffry O. Rosenthal bought 2,500 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were purchased at an average price of $11.95 per share, for a total transaction of $29,875.00. Following the completion of the transaction, the chief executive officer now owns 82,703 shares of the company’s stock, valued at approximately $988,300.85. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 25,500 shares of company stock worth $312,595. 1.60% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of HIBB. JPMorgan Chase & Co. boosted 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 worth $123,000 after purchasing an additional 291 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Hibbett Sports during the third quarter worth $143,000. Municipal Employees Retirement System of Michigan boosted 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 worth $161,000 after purchasing an additional 2,650 shares in the last quarter. UBS Group AG boosted 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 worth $188,000 after purchasing an additional 3,674 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in Hibbett Sports during the third quarter worth $204,000.
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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