Hibbett Sports (NASDAQ:HIBB) Lifted to “Buy” at BidaskClub

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BidaskClub upgraded shares of Hibbett Sports (NASDAQ:HIBB) from a hold rating to a buy rating in a report released on Wednesday morning, BidAskClub reports.

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

HIBB stock opened at $20.49 on Wednesday. Hibbett Sports has a 12-month low of $13.08 and a 12-month high of $25.24. The company has a quick ratio of 0.48, a current ratio of 1.64 and a debt-to-equity ratio of 0.55. The company has a market cap of $347.48 million, a price-to-earnings ratio of 9.00, a PEG ratio of 0.82 and a beta of 0.45. The company has a 50 day moving average of $16.77 and a two-hundred day moving average of $19.49.

Hibbett Sports (NASDAQ:HIBB) last released its earnings results on Friday, August 23rd. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. Hibbett Sports had a net margin of 2.39% and a return on equity of 11.89%. The company had revenue of $252.40 million during the quarter, compared to the consensus estimate of $255.71 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company’s revenue was up 19.6% compared to the same quarter last year. On average, research analysts anticipate that Hibbett Sports will post 2.2 EPS for the current year.

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

Several institutional investors have recently added to or reduced their stakes in the company. Hancock Whitney Corp raised its holdings in shares of Hibbett Sports by 2.0% during the 2nd quarter. Hancock Whitney Corp now owns 75,722 shares of the company’s stock valued at $1,378,000 after purchasing an additional 1,505 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Hibbett Sports during the 2nd quarter valued at $209,000. Voloridge Investment Management LLC bought a new position in shares of Hibbett Sports during the 2nd quarter valued at $217,000. Nuveen Asset Management LLC bought a new position in shares of Hibbett Sports during the 2nd quarter valued at $6,821,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Hibbett Sports by 26.0% during the 2nd quarter. Victory Capital Management Inc. now owns 53,623 shares of the company’s stock valued at $976,000 after purchasing an additional 11,061 shares in 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. 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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