Hibbett Sports (NASDAQ:HIBB) Rating Lowered to Sell at BidaskClub

Hibbett Sports (NASDAQ:HIBB) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, BidAskClub reports.

Several other analysts have also commented on HIBB. Robert W. Baird lifted their price objective on Hibbett Sports to $26.00 and gave the stock a “neutral” rating in a report on Friday, May 24th. Zacks Investment Research lowered Hibbett Sports from a “strong-buy” rating to a “hold” rating and set a $21.00 price objective for the company. in a report on Monday, July 29th. Finally, Bank of America lifted their price objective on Hibbett Sports from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Monday, May 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $22.65.

Hibbett Sports stock opened at $16.16 on Tuesday. The firm has a market cap of $277.14 million, a price-to-earnings ratio of 9.13, a PEG ratio of 1.13 and a beta of 0.38. The stock has a fifty day simple moving average of $17.89 and a two-hundred day simple moving average of $19.52. Hibbett Sports has a 12 month low of $13.08 and a 12 month high of $29.60. The company has a current ratio of 1.74, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53.

Hibbett Sports (NASDAQ:HIBB) last posted its earnings results on Friday, May 24th. The company reported $1.61 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.32. The business had revenue of $343.30 million during the quarter, compared to analyst estimates of $328.16 million. Hibbett Sports had a return on equity of 12.28% and a net margin of 3.19%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. On average, equities research analysts forecast that Hibbett Sports will post 2.07 EPS for the current fiscal year.

In related news, CEO Jeffry O. Rosenthal sold 30,000 shares of Hibbett Sports stock in a transaction on Friday, May 24th. The stock was sold at an average price of $25.00, for a total value of $750,000.00. Following the completion of the sale, the chief executive officer now owns 65,097 shares of the company’s stock, valued at $1,627,425. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. 6 Meridian grew its holdings in Hibbett Sports by 0.9% during the second quarter. 6 Meridian now owns 57,639 shares of the company’s stock valued at $1,049,000 after purchasing an additional 532 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Hibbett Sports by 4.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 17,529 shares of the company’s stock valued at $319,000 after purchasing an additional 750 shares during the period. Northern Trust Corp grew its holdings in Hibbett Sports by 0.4% during the second quarter. Northern Trust Corp now owns 239,174 shares of the company’s stock valued at $4,352,000 after purchasing an additional 1,057 shares during the period. Quantamental Technologies LLC grew its holdings in Hibbett Sports by 24.1% during the first quarter. Quantamental Technologies LLC now owns 6,079 shares of the company’s stock valued at $139,000 after purchasing an additional 1,179 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new stake in Hibbett Sports during the second quarter valued at about $39,000.

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. 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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