BidaskClub Downgrades Hibbett Sports (HIBB) to Hold

BidaskClub cut shares of Hibbett Sports (NASDAQ:HIBB) from a buy rating to a hold rating in a report issued on Saturday, BidAskClub reports.

A number of other equities research analysts have also recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Hibbett Sports from $16.00 to $23.00 and gave the stock a positive rating in a report on Friday, March 22nd. Canaccord Genuity set a $22.00 price objective on shares of Hibbett Sports and gave the stock a hold rating in a report on Monday, March 25th. Consumer Edge cut shares of Hibbett Sports from an overweight rating to an equal weight rating and set a $18.54 price objective on the stock. in a report on Thursday, March 21st. ValuEngine upgraded shares of Hibbett Sports from a sell rating to a hold rating in a report on Friday, March 1st. Finally, Susquehanna Bancshares upgraded shares of Hibbett Sports from a neutral rating to a positive rating and upped their price objective for the stock from $20.00 to $27.00 in a report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $21.75.

Shares of NASDAQ HIBB opened at $20.37 on Friday. Hibbett Sports has a 1 year low of $13.08 and a 1 year high of $29.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.51 and a current ratio of 2.12. The stock has a market cap of $368.44 million, a P/E ratio of 11.51, a P/E/G ratio of 4.45 and a beta of 0.71.

Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings results on Friday, March 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.18. Hibbett Sports had a net margin of 2.82% and a return on equity of 9.95%. The company had revenue of $306.00 million for the quarter, compared to analysts’ expectations of $282.27 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. Hibbett Sports’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities analysts predict that Hibbett Sports will post 1.88 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC lifted its stake in shares of Hibbett Sports by 464.0% in the fourth quarter. FNY Investment Advisers LLC now owns 2,713 shares of the company’s stock worth $38,000 after buying an additional 2,232 shares in the last quarter. Quantamental Technologies LLC bought a new position in Hibbett Sports during the fourth quarter valued at approximately $70,000. NumerixS Investment Technologies Inc bought a new position in Hibbett Sports during the fourth quarter valued at approximately $82,000. Oregon Public Employees Retirement Fund bought a new position in Hibbett Sports during the fourth quarter valued at approximately $101,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in Hibbett Sports by 407.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,583 shares of the company’s stock valued at $108,000 after purchasing an additional 6,090 shares during the period.

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. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names 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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