Hibbett Sports (NASDAQ:HIBB) Upgraded to Buy by BidaskClub

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Hibbett Sports (NASDAQ:HIBB) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday, September 18th, BidAskClub reports.

Several other equities research analysts have also recently commented on the company. Robert W. Baird set a $17.00 price target on Hibbett Sports and gave the company a “hold” rating in a report on Monday, August 26th. Zacks Investment Research cut Hibbett Sports from a “strong-buy” rating to a “hold” rating and set a $21.00 target price for the company. in a research note on Monday, July 29th. ValuEngine cut Hibbett Sports from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 27th. Bank of America cut their target price on Hibbett Sports from $20.00 to $14.00 and set an “underperform” rating for the company in a research note on Monday, August 26th. Finally, Susquehanna Bancshares set a $29.00 price objective on Hibbett Sports and gave the company a “buy” rating in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Hibbett Sports has a consensus rating of “Hold” and an average price target of $20.26.

HIBB stock traded up $0.49 during mid-day trading on Wednesday, reaching $23.09. 341,254 shares of the company’s stock were exchanged, compared to its average volume of 542,851. The company has a market cap of $407.08 million, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.95 and a beta of 0.49. The stock’s 50 day moving average is $19.33 and its 200 day moving average is $19.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.64 and a quick ratio of 0.48. Hibbett Sports has a 12-month low of $13.08 and a 12-month high of $25.24.

Hibbett Sports (NASDAQ:HIBB) last released its earnings results on Friday, August 23rd. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. Hibbett Sports had a return on equity of 11.89% and a net margin of 2.39%. The business had revenue of $252.40 million for the quarter, compared to the consensus estimate of $255.71 million. During the same quarter last year, the business posted ($0.06) earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, research analysts forecast that Hibbett Sports will post 2.19 earnings per share for the current fiscal year.

In other Hibbett Sports news, SVP Ronald P. Blahnik purchased 6,125 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was bought at an average cost of $15.84 per share, with a total value of $97,020.00. Following the acquisition, the senior vice president now directly owns 14,700 shares of the company’s stock, valued at $232,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Paloma Partners Management Co purchased a new stake in shares of Hibbett Sports in the 2nd quarter valued at about $517,000. Trexquant Investment LP purchased a new stake in shares of Hibbett Sports in the 2nd quarter valued at about $898,000. Aperio Group LLC lifted its holdings in shares of Hibbett Sports by 30.3% in the 2nd quarter. Aperio Group LLC now owns 30,096 shares of the company’s stock valued at $548,000 after purchasing an additional 6,999 shares during the last quarter. Spark Investment Management LLC acquired a new position in Hibbett Sports in the 1st quarter valued at about $974,000. Finally, 361 Capital LLC acquired a new position in Hibbett Sports in the 2nd quarter valued at about $2,011,000.

Hibbett Sports Company Profile

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. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.

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Analyst Recommendations for Hibbett Sports (NASDAQ:HIBB)

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