Hibbett Sports (HIBB) Trading Down 6%

Shares of Hibbett Sports, Inc. (NASDAQ:HIBB) were down 6% during mid-day trading on Friday . The company traded as low as $18.35 and last traded at $18.75. Approximately 1,239,604 shares were traded during trading, an increase of 79% from the average daily volume of 692,687 shares. The stock had previously closed at $19.95.

Several analysts have weighed in on HIBB shares. Robert W. Baird boosted their price target on shares of Hibbett Sports from $10.00 to $16.00 and gave the stock a “positive” rating in a research note on Friday, November 17th. Forward View raised shares of Hibbett Sports to a “hold” rating and set a $18.00 price target for the company in a research note on Saturday, November 18th. Buckingham Research downgraded shares of Hibbett Sports from a “neutral” rating to an “underperform” rating and set a $13.00 price target for the company. in a research note on Tuesday, November 21st. Canaccord Genuity set a $11.00 price target on shares of Hibbett Sports and gave the stock a “hold” rating in a research note on Monday, August 21st. Finally, Oppenheimer reissued a “market perform” rating on shares of Hibbett Sports in a research note on Tuesday, October 24th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $22.56.

The firm has a market capitalization of $385.13, a PE ratio of 10.84, a PEG ratio of 5.80 and a beta of 0.93.

Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings data on Friday, November 17th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.15. Hibbett Sports had a net margin of 3.94% and a return on equity of 11.38%. The firm had revenue of $237.80 million for the quarter, compared to analysts’ expectations of $219.38 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. sell-side analysts anticipate that Hibbett Sports, Inc. will post 1.5 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in HIBB. BlackRock Inc. increased its position in shares of Hibbett Sports by 94,396.9% during the first quarter. BlackRock Inc. now owns 2,945,468 shares of the company’s stock valued at $86,891,000 after buying an additional 2,942,351 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Hibbett Sports during the second quarter valued at about $15,077,000. Dimensional Fund Advisors LP increased its position in shares of Hibbett Sports by 63.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,312,080 shares of the company’s stock valued at $27,226,000 after buying an additional 511,443 shares during the period. Koch Industries Inc. purchased a new position in shares of Hibbett Sports during the second quarter valued at about $313,000. Finally, Nordea Investment Management AB increased its position in shares of Hibbett Sports by 74.6% during the second quarter. Nordea Investment Management AB now owns 651,637 shares of the company’s stock valued at $13,521,000 after buying an additional 278,395 shares during the period.

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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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