Hibbett Sports (HIBB) Downgraded by BidaskClub to “Hold”

BidaskClub downgraded shares of Hibbett Sports (NASDAQ:HIBB) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other equities research analysts have also recently commented on HIBB. Credit Suisse Group increased their price objective on Hibbett Sports from $16.50 to $20.00 and gave the company an underperform rating in a research report on Friday, June 29th. ValuEngine cut Hibbett Sports from a hold rating to a sell rating in a research report on Monday, July 2nd. TheStreet cut Hibbett Sports from a b- rating to a c+ rating in a research report on Monday, July 2nd. Stifel Nicolaus increased their price objective on Hibbett Sports from $22.00 to $26.00 and gave the company a hold rating in a research report on Thursday, August 16th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $31.00 price objective on shares of Hibbett Sports in a research report on Friday, August 17th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Hibbett Sports currently has a consensus rating of Hold and a consensus target price of $22.31.

Shares of NASDAQ:HIBB traded up $0.02 on Wednesday, hitting $18.15. 7,340 shares of the company traded hands, compared to its average volume of 753,806. Hibbett Sports has a 52 week low of $12.60 and a 52 week high of $29.60. The company has a market capitalization of $348.86 million, a PE ratio of 11.11, a PEG ratio of 1.36 and a beta of 0.64.

Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings results on Friday, August 24th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.14). Hibbett Sports had a net margin of 3.79% and a return on equity of 11.04%. The company had revenue of $211.10 million for the quarter, compared to the consensus estimate of $215.55 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share. Hibbett Sports’s revenue was up 12.3% compared to the same quarter last year. On average, analysts expect that Hibbett Sports will post 1.71 EPS for the current year.

A number of large investors have recently made changes to their positions in HIBB. JPMorgan Chase & Co. boosted its position in Hibbett Sports by 7,057.6% in the first quarter. JPMorgan Chase & Co. now owns 446,849 shares of the company’s stock worth $10,702,000 after purchasing an additional 440,606 shares during the last quarter. Millennium Management LLC boosted its position in Hibbett Sports by 2,591.2% in the second quarter. Millennium Management LLC now owns 415,043 shares of the company’s stock worth $9,504,000 after purchasing an additional 399,621 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Hibbett Sports in the second quarter worth about $6,630,000. Renaissance Technologies LLC purchased a new position in Hibbett Sports in the second quarter worth about $6,272,000. Finally, American Century Companies Inc. purchased a new position in Hibbett Sports in the second quarter worth about $5,533,000.

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. 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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Analyst Recommendations for Hibbett Sports (NASDAQ:HIBB)

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