Hibbett Sports (HIBB) Downgraded to Neutral at UBS Group

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Hibbett Sports (NASDAQ:HIBB) was downgraded by UBS Group from a “positive” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, October 25th, The Fly reports.

HIBB has been the topic of a number of other reports. Stephens lifted their price target on Hibbett Sports from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 23rd. Deutsche Bank cut their price objective on Hibbett Sports from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday, August 27th. Zacks Investment Research lowered Hibbett Sports from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 29th. Credit Suisse Group lifted their price objective on Hibbett Sports from $16.50 to $20.00 and gave the stock an “underperform” rating in a research report on Friday, June 29th. Finally, BidaskClub upgraded Hibbett Sports from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Hibbett Sports presently has a consensus rating of “Hold” and a consensus target price of $21.54.

NASDAQ:HIBB opened at $17.89 on Thursday. The stock has a market capitalization of $331.97 million, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 1.36 and a beta of 0.63. Hibbett Sports has a twelve month low of $15.50 and a twelve month high of $29.60.

Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings data on Friday, August 24th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.14). The firm had revenue of $211.10 million for the quarter, compared to analysts’ expectations of $215.55 million. Hibbett Sports had a net margin of 3.79% and a return on equity of 11.04%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) earnings per share. As a group, equities research analysts forecast that Hibbett Sports will post 1.63 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Hibbett Sports by 9.0% during the second quarter. BlackRock Inc. now owns 2,815,369 shares of the company’s stock valued at $64,470,000 after buying an additional 233,090 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Hibbett Sports by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,598,576 shares of the company’s stock valued at $30,054,000 after buying an additional 9,734 shares during the last quarter. FMR LLC raised its stake in shares of Hibbett Sports by 2.4% in the third quarter. FMR LLC now owns 1,369,507 shares of the company’s stock worth $25,746,000 after purchasing an additional 32,545 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Hibbett Sports by 35.4% in the third quarter. Russell Investments Group Ltd. now owns 690,596 shares of the company’s stock worth $12,983,000 after purchasing an additional 180,412 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Hibbett Sports by 7.7% in the third quarter. Bank of New York Mellon Corp now owns 602,338 shares of the company’s stock worth $11,324,000 after purchasing an additional 43,244 shares during the last quarter.

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

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