Hibbett Sports (NASDAQ:HIBB) Downgraded by BidaskClub to Buy

BidaskClub lowered shares of Hibbett Sports (NASDAQ:HIBB) from a strong-buy rating to a buy rating in a research note released on Saturday, BidAskClub reports.

Other research analysts have also issued research reports about the company. Robert W. Baird set a $17.00 price target on Hibbett Sports and gave the stock a hold rating in a research note on Monday, August 26th. Bank of America reduced their price target on Hibbett Sports from $20.00 to $14.00 and set an underperform rating on the stock in a research note on Monday, August 26th. Zacks Investment Research lowered Hibbett Sports from a strong-buy rating to a hold rating and set a $21.00 price target on the stock. in a research note on Monday, July 29th. Susquehanna Bancshares set a $29.00 price target on Hibbett Sports and gave the stock a buy rating in a research note on Monday, August 26th. Finally, ValuEngine lowered Hibbett Sports from a sell rating to a strong sell rating in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $20.26.

NASDAQ HIBB traded down $0.71 on Friday, hitting $23.68. 374,200 shares of the company’s stock were exchanged, compared to its average volume of 684,886. Hibbett Sports has a fifty-two week low of $13.08 and a fifty-two week high of $26.40. The firm has a market cap of $463.30 million, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.10 and a beta of 0.48. The firm’s 50-day moving average price is $22.97 and its two-hundred day moving average price is $20.07. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.64 and a quick ratio of 0.48.

Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings results on Friday, August 23rd. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. Hibbett Sports had a return on equity of 11.89% and a net margin of 2.39%. The company had revenue of $252.40 million for the quarter, compared to analyst estimates of $255.71 million. During the same quarter in the prior year, the company posted ($0.06) EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. On average, research analysts predict that Hibbett Sports will post 2.19 earnings per share for the current fiscal year.

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In other news, SVP Jared S. Briskin sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the senior vice president now directly owns 3,508 shares in the company, valued at approximately $91,208. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Cathy E. Pryor sold 11,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $25.00, for a total value of $275,000.00. Following the sale, the vice president now owns 446 shares of the company’s stock, valued at $11,150. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,227 shares of company stock valued at $329,221. Insiders own 2.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Hibbett Sports by 39.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,775,243 shares of the company’s stock valued at $31,884,000 after purchasing an additional 504,390 shares in the last quarter. FMR LLC increased its holdings in Hibbett Sports by 0.3% in the 1st quarter. FMR LLC now owns 1,329,262 shares of the company’s stock valued at $30,321,000 after purchasing an additional 3,600 shares in the last quarter. Vanguard Group Inc. increased its holdings in Hibbett Sports by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,233,230 shares of the company’s stock valued at $22,444,000 after purchasing an additional 66,217 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Hibbett Sports by 45.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,222,844 shares of the company’s stock valued at $22,256,000 after purchasing an additional 379,300 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in Hibbett Sports by 15.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,091,140 shares of the company’s stock valued at $19,859,000 after purchasing an additional 149,351 shares in the last quarter.

Hibbett Sports Company Profile

Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. The company also operates Hibbett.com, an e-commerce Website. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.

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Analyst Recommendations for Hibbett Sports (NASDAQ:HIBB)

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