Hibbett Sports (NASDAQ:HIBB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Hibbett remains well positioned to gain from the growth of omni-channel capabilities, improved Rewards members and inventory management initiatives. This led the company to outperform the industry in the last three months. Further, the company’s sales is gaining from strength in the apparel business driven by strong e-commerce growth, favorable weather and focus on sportswear. Estimates have been stable ahead of the first quarter earnings. While Hibbett retained positive earnings trend in fourth-quarter fiscal 2018, earnings declined year over year due to lower margins and higher SG&A expenses. Soft margins stemmed from increased promotions and markdowns to improve inventory and e-commerce penetration. Moreover, it provided a soft outlook for fiscal 2019 due to the week shift resulting from an additional 53rd week in fiscal 2018. This is likely to impact its earnings and sales in the second and third quarters.”
A number of other brokerages have also issued reports on HIBB. TheStreet raised Hibbett Sports from a “c” rating to a “b-” rating in a research note on Wednesday, May 9th. BidaskClub raised Hibbett Sports from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. BMO Capital Markets lifted their price target on Hibbett Sports to $27.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 27th. Robert W. Baird lifted their price target on Hibbett Sports to $24.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Finally, Bank of America lowered their price target on Hibbett Sports from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $21.61.
Shares of HIBB opened at $27.85 on Friday. The company has a current ratio of 3.00, a quick ratio of 0.81 and a debt-to-equity ratio of 0.01. Hibbett Sports has a 12 month low of $9.40 and a 12 month high of $29.35. The company has a market capitalization of $533.63 million, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.83.
Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings data on Friday, March 16th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.36 by $0.15. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $261.37 million. Hibbett Sports had a return on equity of 10.37% and a net margin of 3.62%. Hibbett Sports’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. research analysts anticipate that Hibbett Sports will post 1.87 earnings per share for the current year.
In other Hibbett Sports news, VP Cathy E. Pryor sold 6,500 shares of the business’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $22.58, for a total transaction of $146,770.00. Following the transaction, the vice president now owns 13,300 shares of the company’s stock, valued at $300,314. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alton E. Yother sold 5,000 shares of the business’s stock in a transaction on Thursday, April 12th. The stock was sold at an average price of $28.20, for a total value of $141,000.00. Following the transaction, the director now directly owns 16,237 shares in the company, valued at approximately $457,883.40. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Hibbett Sports by 91.3% during the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 66,000 shares of the company’s stock worth $1,581,000 after buying an additional 31,500 shares during the last quarter. Hancock Holding Co. acquired a new position in Hibbett Sports during the first quarter worth $2,270,000. Element Capital Management LLC acquired a new position in Hibbett Sports during the first quarter worth $207,000. A.R.T. Advisors LLC boosted its stake in Hibbett Sports by 108.5% during the first quarter. A.R.T. Advisors LLC now owns 69,764 shares of the company’s stock worth $1,670,000 after buying an additional 36,300 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. raised its position in Hibbett Sports by 61.7% in the first quarter. C M Bidwell & Associates Ltd. now owns 7,630 shares of the company’s stock valued at $183,000 after purchasing an additional 2,910 shares during the period.
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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