Hibbett Sports (NASDAQ:HIBB) Cut to “Sell” at BidaskClub

BidaskClub cut shares of Hibbett Sports (NASDAQ:HIBB) from a hold rating to a sell rating in a report published on Saturday, BidAskClub reports.

A number of other brokerages also recently issued reports on HIBB. Bank of America increased their price target on Hibbett Sports from $18.00 to $20.00 and gave the stock an underperform rating in a research report on Monday, May 27th. Zacks Investment Research downgraded Hibbett Sports from a hold rating to a sell rating in a report on Tuesday, March 5th. Robert W. Baird raised their target price on Hibbett Sports from $16.00 to $23.00 and gave the company a positive rating in a report on Friday, March 22nd. ValuEngine raised Hibbett Sports from a sell rating to a hold rating in a report on Friday, March 1st. Finally, Canaccord Genuity set a $22.00 target price on Hibbett Sports and gave the company a hold rating in a report on Monday, March 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Hibbett Sports currently has a consensus rating of Hold and a consensus price target of $22.55.

Shares of NASDAQ:HIBB opened at $19.18 on Friday. The firm has a market capitalization of $354.28 million, a P/E ratio of 10.84, a P/E/G ratio of 1.44 and a beta of 0.57. Hibbett Sports has a 1 year low of $13.08 and a 1 year high of $29.60. The company has a quick ratio of 0.63, a current ratio of 1.75 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $21.14.



Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings results on Friday, May 24th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.32. The business had revenue of $343.30 million for the quarter, compared to the consensus estimate of $328.16 million. Hibbett Sports had a return on equity of 12.25% and a net margin of 3.19%. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 earnings per share. Sell-side analysts predict that Hibbett Sports will post 2.06 EPS for the current fiscal year.

In other Hibbett Sports news, CEO Jeffry O. Rosenthal sold 30,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $25.00, for a total value of $750,000.00. Following the sale, the chief executive officer now owns 65,097 shares of the company’s stock, valued at approximately $1,627,425. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIBB. Arizona State Retirement System grew its position in Hibbett Sports by 4.0% in the fourth quarter. Arizona State Retirement System now owns 28,576 shares of the company’s stock valued at $409,000 after acquiring an additional 1,092 shares during the period. Rhumbline Advisers grew its holdings in shares of Hibbett Sports by 19.0% during the fourth quarter. Rhumbline Advisers now owns 56,172 shares of the company’s stock worth $803,000 after purchasing an additional 8,955 shares during the last quarter. LSV Asset Management grew its holdings in shares of Hibbett Sports by 53.3% during the fourth quarter. LSV Asset Management now owns 29,900 shares of the company’s stock worth $427,000 after purchasing an additional 10,400 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Hibbett Sports during the fourth quarter worth $101,000. Finally, Prudential Financial Inc. grew its holdings in shares of Hibbett Sports by 66.3% during the fourth quarter. Prudential Financial Inc. now owns 402,567 shares of the company’s stock worth $5,757,000 after purchasing an additional 160,534 shares during the last quarter.

About Hibbett Sports

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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