Bank of America Downgrades Hibbett Sports (HIBB) to Underperform

Hibbett Sports (NASDAQ:HIBB) was downgraded by equities research analysts at Bank of America from a “buy” rating to an “underperform” rating in a research report issued on Monday, The Fly reports.

Several other research analysts have also weighed in on the stock. ValuEngine lowered shares of Hibbett Sports from a “hold” rating to a “sell” rating in a research report on Saturday. BidaskClub lowered shares of Hibbett Sports from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Zacks Investment Research lowered shares of Hibbett Sports from a “hold” rating to a “sell” rating in a research report on Wednesday, May 30th. Canaccord Genuity upped their target price on shares of Hibbett Sports from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, May 22nd. Finally, TheStreet upgraded shares of Hibbett Sports from a “c” rating to a “b-” rating in a research report on Wednesday, May 9th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Hibbett Sports has a consensus rating of “Hold” and an average price target of $21.29.

Hibbett Sports opened at $21.75 on Monday, according to Marketbeat.com. Hibbett Sports has a 52 week low of $9.40 and a 52 week high of $29.50. The company has a market capitalization of $412.07 million, a PE ratio of 13.34, a PEG ratio of 1.73 and a beta of 0.81.

Hibbett Sports (NASDAQ:HIBB) last issued its earnings results on Friday, May 25th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.03). Hibbett Sports had a return on equity of 10.51% and a net margin of 3.68%. The company had revenue of $274.70 million for the quarter, compared to analyst estimates of $276.98 million. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. analysts expect that Hibbett Sports will post 1.83 earnings per share for the current year.

In other Hibbett Sports news, Director Alton E. Yother sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $28.20, for a total value of $141,000.00. Following the sale, the director now owns 16,237 shares of the company’s stock, valued at $457,883.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Cathy E. Pryor sold 6,500 shares of the company’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $22.58, for a total transaction of $146,770.00. Following the completion of the sale, the vice president now directly owns 13,300 shares in the company, valued at approximately $300,314. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System lifted its stake in shares of Hibbett Sports by 22.6% during the fourth quarter. California Public Employees Retirement System now owns 151,506 shares of the company’s stock valued at $3,091,000 after buying an additional 27,915 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Hibbett Sports by 15.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 335,566 shares of the company’s stock valued at $6,846,000 after buying an additional 44,155 shares during the period. AMP Capital Investors Ltd purchased a new position in shares of Hibbett Sports during the fourth quarter valued at approximately $380,000. Aperio Group LLC lifted its stake in shares of Hibbett Sports by 26.8% during the fourth quarter. Aperio Group LLC now owns 15,899 shares of the company’s stock valued at $324,000 after buying an additional 3,364 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Hibbett Sports during the fourth quarter valued at approximately $5,567,000.

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.

The Fly

Analyst Recommendations for Hibbett Sports (NASDAQ:HIBB)

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