Hibbett Sports, Inc. (NASDAQ:HIBB)’s share price dropped 6% during trading on Tuesday after Bank of America lowered their price target on the stock from $30.00 to $28.00. Bank of America currently has a buy rating on the stock. Hibbett Sports traded as low as $21.35 and last traded at $21.85. Approximately 873,331 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 848,043 shares. The stock had previously closed at $23.25.
Several other research analysts have also recently weighed in on the stock. BidaskClub raised shares of Hibbett Sports from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th. ValuEngine upgraded shares of Hibbett Sports from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Robert W. Baird restated a “hold” rating on shares of Hibbett Sports in a research report on Friday, December 15th. Buckingham Research lowered shares of Hibbett Sports from a “neutral” rating to an “underperform” rating and set a $13.00 target price for the company. in a report on Tuesday, November 21st. Finally, Zacks Investment Research lowered shares of Hibbett Sports from a “buy” rating to a “hold” rating in a report on Thursday, November 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $22.30.
A number of hedge funds have recently modified their holdings of HIBB. Hotchkis & Wiley Capital Management LLC purchased a new stake in Hibbett Sports in the third quarter worth approximately $143,000. Macquarie Group Ltd. purchased a new stake in Hibbett Sports in the third quarter worth approximately $204,000. MetLife Investment Advisors LLC purchased a new stake in Hibbett Sports in the fourth quarter worth approximately $208,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in Hibbett Sports in the fourth quarter worth approximately $257,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Hibbett Sports by 47.4% in the third quarter. BNP Paribas Arbitrage SA now owns 20,218 shares of the company’s stock worth $288,000 after purchasing an additional 6,505 shares during the last quarter.
The company has a market cap of $450.85, a price-to-earnings ratio of 12.88 and a beta of 0.85.
Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings results on Friday, March 16th. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.15. The business had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $261.37 million. Hibbett Sports had a net margin of 3.62% and a return on equity of 10.37%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 EPS. equities research analysts anticipate that Hibbett Sports, Inc. will post 1.9 earnings per share for the current year.
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Hibbett Sports Company Profile
Hibbett Sports, Inc operates athletic specialty stores in small and mid-sized markets in the South, Southwest, Mid-Atlantic and the Midwest regions of the United States. As of January 28, 2017, the Company had operated 1,078 stores consisting of 1,059 Hibbett Sports stores and 19 smaller-format Sports Additions athletic shoe stores in 35 states.
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