Hibbett Sports (HIBB) Raised to “Buy” at BidaskClub

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BidaskClub upgraded shares of Hibbett Sports (NASDAQ:HIBB) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

HIBB has been the subject of several other reports. Stifel Nicolaus lifted their price objective on shares of Hibbett Sports from $22.00 to $26.00 and gave the company a hold rating in a research note on Thursday, August 16th. Deutsche Bank decreased their price objective on shares of Hibbett Sports from $24.00 to $22.00 and set a hold rating for the company in a research note on Monday, August 27th. Canaccord Genuity cut shares of Hibbett Sports from a buy rating to a hold rating and decreased their price objective for the company from $31.00 to $21.00 in a research note on Monday, August 27th. MKM Partners decreased their price objective on shares of Hibbett Sports to $20.00 and set a neutral rating for the company in a research note on Monday, August 27th. Finally, Susquehanna Bancshares decreased their price objective on shares of Hibbett Sports from $33.00 to $25.00 and set a positive rating for the company in a research note on Monday, August 27th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Hibbett Sports has an average rating of Hold and a consensus target price of $21.54.

HIBB stock traded down $0.41 during trading on Wednesday, reaching $18.98. The company had a trading volume of 427,001 shares, compared to its average volume of 837,182. The stock has a market capitalization of $349.97 million, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.41 and a beta of 0.63. Hibbett Sports has a twelve month low of $13.40 and a twelve month high of $29.60.

Hibbett Sports (NASDAQ:HIBB) last released its earnings results on Friday, August 24th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.14). The company had revenue of $211.10 million during the quarter, compared to analyst estimates of $215.55 million. Hibbett Sports had a return on equity of 11.04% and a net margin of 3.79%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.15) earnings per share. Sell-side analysts anticipate that Hibbett Sports will post 1.66 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Broadview Advisors LLC increased its holdings in shares of Hibbett Sports by 26.8% during the 3rd quarter. Broadview Advisors LLC now owns 310,501 shares of the company’s stock valued at $5,837,000 after purchasing an additional 65,700 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Hibbett Sports by 170.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 526,400 shares of the company’s stock valued at $9,896,000 after purchasing an additional 331,900 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Hibbett Sports during the 3rd quarter valued at approximately $330,000. FMR LLC increased its holdings in shares of Hibbett Sports by 2.4% during the 3rd quarter. FMR LLC now owns 1,369,507 shares of the company’s stock valued at $25,746,000 after purchasing an additional 32,545 shares in the last quarter. Finally, Rafferty Asset Management LLC purchased a new position in shares of Hibbett Sports during the 3rd quarter valued at approximately $274,000.

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. As of March 28, 2018, it operated approximately 1,000 stores 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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