Hibbett Sports (HIBB) Upgraded to “Strong-Buy” at BidaskClub

Hibbett Sports (NASDAQ:HIBB) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

A number of other brokerages have also recently weighed in on HIBB. Stifel Nicolaus set a $20.00 price objective on Hibbett Sports and gave the company a “hold” rating in a research note on Friday, December 15th. Robert W. Baird reissued a “hold” rating on shares of Hibbett Sports in a research note on Friday, December 15th. Buckingham Research cut Hibbett Sports from a “neutral” rating to an “underperform” rating and set a $13.00 target price for the company. in a research note on Tuesday, November 21st. Susquehanna Bancshares reissued a “buy” rating and set a $21.00 target price on shares of Hibbett Sports in a research note on Monday, November 20th. Finally, Zacks Investment Research cut Hibbett Sports from a “buy” rating to a “hold” rating in a research note on Thursday, November 23rd. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $21.59.

Shares of Hibbett Sports (NASDAQ:HIBB) traded down $0.70 during midday trading on Wednesday, hitting $21.00. The stock had a trading volume of 381,954 shares, compared to its average volume of 701,395. Hibbett Sports has a twelve month low of $9.40 and a twelve month high of $38.70. The firm has a market capitalization of $432.36, a PE ratio of 12.14, a PEG ratio of 6.51 and a beta of 0.96.

Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings data on Friday, November 17th. The company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.15. Hibbett Sports had a return on equity of 9.42% and a net margin of 3.18%. The business had revenue of $237.80 million during the quarter, compared to analysts’ expectations of $219.38 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The company’s revenue was up .3% on a year-over-year basis. research analysts expect that Hibbett Sports will post 1.5 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in HIBB. Hotchkis & Wiley Capital Management LLC purchased a new stake in Hibbett Sports during the 3rd quarter worth about $143,000. Municipal Employees Retirement System of Michigan lifted 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 buying an additional 2,650 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in Hibbett Sports during the 3rd quarter worth about $204,000. Voya Investment Management LLC lifted its holdings in Hibbett Sports by 11.9% during the 2nd quarter. Voya Investment Management LLC now owns 12,007 shares of the company’s stock worth $249,000 after buying an additional 1,278 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its holdings in Hibbett Sports by 1.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 12,520 shares of the company’s stock worth $260,000 after buying an additional 170 shares during the last quarter.

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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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