Robert W. Baird Boosts Hibbett Sports, Inc. (HIBB) Price Target to $16.00

Hibbett Sports, Inc. (NASDAQ:HIBB) had its target price raised by equities research analysts at Robert W. Baird from $10.00 to $16.00 in a research note issued to investors on Friday. The firm presently has a “positive” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 7.74% from the stock’s previous close.

Several other brokerages also recently commented on HIBB. BidaskClub downgraded Hibbett Sports from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $13.00 target price on shares of Hibbett Sports in a report on Thursday, July 27th. Canaccord Genuity set a $11.00 target price on Hibbett Sports and gave the stock a “hold” rating in a report on Monday, August 21st. Forward View downgraded Hibbett Sports to a “sell” rating and set a $10.00 target price on the stock. in a report on Monday, August 28th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Hibbett Sports in a report on Tuesday, October 24th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $21.39.

Hibbett Sports (NASDAQ HIBB) traded up $0.80 during midday trading on Friday, hitting $14.85. The company had a trading volume of 859,600 shares, compared to its average volume of 655,367. Hibbett Sports has a 12 month low of $9.40 and a 12 month high of $45.50. The firm has a market cap of $341.99, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 5.02 and a beta of 0.72.

Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings data on Thursday, November 16th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.15. The company had revenue of $237.80 million for the quarter, compared to the consensus estimate of $219.38 million. Hibbett Sports had a return on equity of 13.38% and a net margin of 4.68%. Hibbett Sports’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. equities analysts expect that Hibbett Sports will post 1.3 EPS for the current fiscal year.

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In other news, Director Michael J. Newsome bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of $12.13 per share, with a total value of $121,300.00. Following the transaction, the director now directly owns 44,924 shares of the company’s stock, valued at approximately $544,928.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffry O. Rosenthal bought 2,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 82,703 shares in the company, valued at $988,300.85. The disclosure for this purchase can be found here. Insiders purchased a total of 25,500 shares of company stock valued at $312,595 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in Hibbett Sports by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 4,190 shares of the company’s stock worth $123,000 after purchasing an additional 291 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Hibbett Sports during the 3rd quarter worth approximately $143,000. Municipal Employees Retirement System of Michigan increased its holdings in Hibbett Sports by 52.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,750 shares of the company’s stock worth $161,000 after purchasing an additional 2,650 shares in the last quarter. UBS Group AG increased its holdings in Hibbett Sports by 135.8% during the 1st quarter. UBS Group AG now owns 6,379 shares of the company’s stock worth $188,000 after purchasing an additional 3,674 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new stake in Hibbett Sports during the 3rd quarter worth approximately $204,000.

Hibbett Sports Company Profile

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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