Hibbett Sports (HIBB) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Hibbett Sports (NASDAQ:HIBB) from a sell rating to a hold rating in a report released on Friday.

According to Zacks, “Despite dismal top and bottom lines in third-quarter fiscal 2019, Hibbett delivered positive comps backed by significant improvement in branded apparel business. Footwear and sportswear businesses also aided comps growth. Further, the company raised comps guidance for fiscal 2019. Further, the company’s focus on enhancing omni-channel capabilities, renewing loyalty program and inventory management initiatives bodes well. It expects continued growth in the e-commerce business as mobile app enhancements, and the recently launched BOPIS and ROPIS capabilities are delivering results. However, Hibbett lagged the industry year to date due to a dismal surprise history. It reported third straight earnings miss in fiscal third quarter, while sales were almost in line with estimates. The company’s soft margins trend in the last few quarters has also been a concern. Further, a lowered earnings view for fiscal 2019 is disheartening.”

Several other research analysts also recently issued reports on HIBB. BidaskClub raised Hibbett Sports from a hold rating to a buy rating in a research note on Thursday, August 16th. Stifel Nicolaus upped their price objective on Hibbett Sports from $22.00 to $26.00 and gave the company a hold rating in a research note on Thursday, August 16th. Canaccord Genuity reaffirmed a buy rating and issued a $31.00 price objective on shares of Hibbett Sports in a research note on Friday, August 17th. ValuEngine raised Hibbett Sports from a hold rating to a buy rating in a research note on Thursday, August 23rd. Finally, Stephens upped their target price on Hibbett Sports from $26.00 to $28.00 and gave the company an equal weight rating in a report on Thursday, August 23rd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $21.30.

Hibbett Sports stock opened at $15.49 on Friday. Hibbett Sports has a 1 year low of $14.86 and a 1 year high of $29.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.06 and a quick ratio of 1.10. The company has a market capitalization of $287.44 million, a PE ratio of 9.45, a PEG ratio of 1.22 and a beta of 0.56.

Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings data on Tuesday, November 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). Hibbett Sports had a net margin of 3.25% and a return on equity of 9.45%. The firm had revenue of $216.89 million during the quarter, compared to analyst estimates of $217.56 million. During the same period in the prior year, the company earned $0.37 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, sell-side analysts predict that Hibbett Sports will post 1.58 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC bought a new stake in Hibbett Sports in the second quarter valued at approximately $101,000. Pacer Advisors Inc. boosted its holdings in Hibbett Sports by 280.1% in the third quarter. Pacer Advisors Inc. now owns 11,451 shares of the company’s stock valued at $215,000 after acquiring an additional 8,438 shares during the last quarter. Martingale Asset Management L P bought a new stake in Hibbett Sports in the second quarter valued at approximately $219,000. Rafferty Asset Management LLC bought a new stake in Hibbett Sports in the third quarter valued at approximately $274,000. Finally, MetLife Investment Advisors LLC boosted its holdings in Hibbett Sports by 59.7% in the third quarter. MetLife Investment Advisors LLC now owns 16,299 shares of the company’s stock valued at $306,000 after acquiring an additional 6,090 shares during the last quarter.

About Hibbett Sports

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. As of March 28, 2018, it operated approximately 1,000 stores primarily in small and mid-sized communities in the United States.

See Also: What is a balanced fund?

Get a free copy of the Zacks research report on Hibbett Sports (HIBB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Hibbett Sports (NASDAQ:HIBB)

Receive News & Ratings for Hibbett Sports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hibbett Sports and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit