Hibbett Sports, Inc. (HIBB) Receives “Hold” Rating from SunTrust Banks, Inc.

Hibbett Sports, Inc. (NASDAQ:HIBB)‘s stock had its “hold” rating reissued by analysts at SunTrust Banks, Inc. in a research note issued to investors on Tuesday, October 17th. They currently have a $13.00 target price on the stock. SunTrust Banks, Inc.’s price objective would indicate a potential downside of 2.99% from the stock’s previous close.

HIBB has been the subject of a number of other research reports. Forward View cut shares of Hibbett Sports to a “sell” rating and set a $10.00 target price for the company. in a research report on Monday, August 28th. BidaskClub cut shares of Hibbett Sports from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. ValuEngine raised shares of Hibbett Sports from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. UBS AG raised shares of Hibbett Sports from a “neutral” rating to a “positive” rating in a research report on Wednesday, September 20th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $13.00 price objective on shares of Hibbett Sports in a research report on Thursday, July 27th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Hibbett Sports has a consensus rating of “Hold” and an average price target of $21.06.

Shares of Hibbett Sports (NASDAQ HIBB) opened at 13.40 on Tuesday. The firm has a 50-day moving average of $13.60 and a 200-day moving average of $18.63. Hibbett Sports has a one year low of $9.40 and a one year high of $45.85. The company has a market capitalization of $275.22 million, a P/E ratio of 6.55 and a beta of 0.78.

Hibbett Sports (NASDAQ:HIBB) last announced its earnings results on Friday, August 18th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. The company had revenue of $188.00 million during the quarter, compared to analysts’ expectations of $190.31 million. Hibbett Sports had a net margin of 4.68% and a return on equity of 13.38%. Hibbett Sports’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share. Equities research analysts expect that Hibbett Sports will post $1.30 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2017/10/28/suntrust-banks-inc-reiterates-hold-rating-for-hibbett-sports-inc-hibb.html.

In other news, insider Scott Justin Bowman acquired 3,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was bought at an average price of $11.84 per share, with a total value of $35,520.00. Following the completion of the purchase, the insider now directly owns 7,883 shares of the company’s stock, valued at approximately $93,334.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffry O. Rosenthal acquired 2,500 shares of the stock in a transaction dated Wednesday, August 30th. The stock was purchased at an average cost of $11.95 per share, with a total value of $29,875.00. Following the purchase, the chief executive officer now directly owns 82,703 shares of the company’s stock, valued at $988,300.85. The disclosure for this purchase can be found here. Insiders bought 25,500 shares of company stock valued at $312,595 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Hibbett Sports by 7.5% in 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. Mason Street Advisors LLC increased its stake in shares of Hibbett Sports by 5.0% in the first quarter. Mason Street Advisors LLC now owns 5,135 shares of the company’s stock valued at $151,000 after buying an additional 245 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of Hibbett Sports by 52.0% in 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. Schroder Investment Management Group increased its stake in shares of Hibbett Sports by 215.0% in the first quarter. Schroder Investment Management Group now owns 6,300 shares of the company’s stock valued at $188,000 after buying an additional 4,300 shares during the period. Finally, UBS Group AG increased its stake in shares of Hibbett Sports by 135.8% in 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.

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.

Analyst Recommendations for Hibbett Sports (NASDAQ:HIBB)

Receive News & Ratings for Hibbett Sports Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hibbett Sports Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply