Hibbett Sports, Inc. (HIBB) PT Raised to $17.00 at BMO Capital Markets

Hibbett Sports, Inc. (NASDAQ:HIBB) had its price target boosted by BMO Capital Markets from $10.00 to $17.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential downside of 0.58% from the stock’s previous close.

Several other research firms have also weighed in on HIBB. Robert W. Baird lifted their price objective on shares of Hibbett Sports from $10.00 to $16.00 and gave the stock a “positive” rating in a research note on Friday. BidaskClub lowered shares of Hibbett Sports from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Canaccord Genuity set a $11.00 price objective on shares of Hibbett Sports and gave the stock a “hold” rating in a research note on Monday, August 21st. Forward View downgraded shares of 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. restated a “market perform” rating on shares of Hibbett Sports in a report on Tuesday, October 24th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.67.

Shares of Hibbett Sports (NASDAQ:HIBB) traded up $2.25 during midday trading on Friday, hitting $17.10. 3,327,200 shares of the stock traded hands, compared to its average volume of 667,348. The company has a market cap of $351.23, a price-to-earnings ratio of 9.88, a PEG ratio of 6.16 and a beta of 0.72. Hibbett Sports has a one year low of $9.40 and a one year high of $43.40.

Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings data on Friday, November 17th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.15. Hibbett Sports had a net margin of 3.94% and a return on equity of 11.38%. The business had revenue of $237.80 million for the quarter, compared to analyst estimates of $219.38 million. During the same quarter last year, the firm earned $0.66 EPS. Hibbett Sports’s quarterly revenue was up .3% compared to the same quarter last year. analysts predict that Hibbett Sports will post 1.28 earnings per share for the current fiscal year.

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In related news, insider Scott Justin Bowman acquired 3,000 shares of Hibbett Sports stock in a transaction on Wednesday, August 30th. The stock was purchased at an average cost of $11.84 per share, with a total value of $35,520.00. Following the completion of the transaction, the insider now directly owns 7,883 shares in the company, valued at approximately $93,334.72. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael J. Newsome acquired 10,000 shares of Hibbett Sports stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $12.13 per share, with a total value of $121,300.00. Following the completion of the transaction, the director now owns 44,924 shares of the company’s stock, valued at $544,928.12. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 25,500 shares of company stock worth $312,595. 1.60% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Hibbett Sports by 94,396.9% in the first quarter. BlackRock Inc. now owns 2,945,468 shares of the company’s stock valued at $86,891,000 after acquiring an additional 2,942,351 shares during the period. Vanguard Group Inc. boosted its position in shares of Hibbett Sports by 7.5% in the first quarter. Vanguard Group Inc. now owns 2,004,952 shares of the company’s stock valued at $59,147,000 after acquiring an additional 140,569 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Hibbett Sports by 63.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,312,080 shares of the company’s stock valued at $27,226,000 after acquiring an additional 511,443 shares during the period. State Street Corp boosted its position in shares of Hibbett Sports by 10.4% in the second quarter. State Street Corp now owns 791,812 shares of the company’s stock valued at $16,428,000 after acquiring an additional 74,526 shares during the period. Finally, Oak Ridge Investments LLC boosted its position in shares of Hibbett Sports by 2.5% in the second quarter. Oak Ridge Investments LLC now owns 731,815 shares of the company’s stock valued at $15,185,000 after acquiring an additional 17,899 shares during the period.

About Hibbett Sports

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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