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.
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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.
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