Hibbett Sports (HIBB) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Hibbett Sports (NASDAQ:HIBB) from a hold rating to a buy rating in a report published on Saturday morning.

Several other analysts have also recently weighed in on HIBB. ValuEngine raised shares of Hibbett Sports from a strong sell rating to a sell rating in a report on Wednesday, January 2nd. Zacks Investment Research raised shares of Hibbett Sports from a sell rating to a hold rating in a report on Friday, November 30th. Canaccord Genuity set a $20.00 target price on shares of Hibbett Sports and gave the company a hold rating in a report on Wednesday, November 28th. Bank of America reaffirmed an underperform rating and issued a $15.00 target price (down previously from $18.00) on shares of Hibbett Sports in a report on Friday, November 30th. Finally, UBS Group cut shares of Hibbett Sports from a positive rating to a neutral rating in a report on Thursday, October 25th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $21.30.

Shares of NASDAQ:HIBB opened at $16.24 on Friday. The company has a market capitalization of $296.23 million, a P/E ratio of 9.96, a PEG ratio of 1.27 and a beta of 0.55. Hibbett Sports has a fifty-two week low of $13.08 and a fifty-two week high of $29.60.

Hibbett Sports (NASDAQ:HIBB) last issued its earnings results on Tuesday, November 27th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). The firm had revenue of $216.89 million during the quarter, compared to analyst estimates of $217.56 million. Hibbett Sports had a net margin of 3.25% and a return on equity of 9.45%. The firm’s revenue was down 8.8% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS. Equities analysts forecast that Hibbett Sports will post 1.58 EPS for the current year.

A number of institutional investors have recently made changes to their positions in HIBB. Pacer Advisors Inc. increased its stake in Hibbett Sports by 280.1% in the third quarter. Pacer Advisors Inc. now owns 11,451 shares of the company’s stock valued at $215,000 after purchasing an additional 8,438 shares during the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Hibbett Sports during the third quarter worth approximately $274,000. MetLife Investment Advisors LLC grew its position in shares of Hibbett Sports by 59.7% during the third quarter. MetLife Investment Advisors LLC now owns 16,299 shares of the company’s stock worth $306,000 after acquiring an additional 6,090 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Hibbett Sports during the third quarter worth approximately $330,000. Finally, LSV Asset Management grew its position in shares of Hibbett Sports by 37.3% during the third quarter. LSV Asset Management now owns 19,500 shares of the company’s stock worth $366,000 after acquiring an additional 5,300 shares during 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. As of March 28, 2018, it operated approximately 1,000 stores primarily in small and mid-sized communities in the United States.

Further Reading: Rule of 72

Analyst Recommendations for Hibbett Sports (NASDAQ:HIBB)

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