Hibbett Sports (NASDAQ:HIBB) Upgraded by BidaskClub to Strong-Buy

Hibbett Sports (NASDAQ:HIBB) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Several other equities analysts have also recently weighed in on HIBB. ValuEngine cut shares of Hibbett Sports from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 27th. Susquehanna Bancshares set a $29.00 target price on shares of Hibbett Sports and gave the company a “buy” rating in a research note on Monday, August 26th. 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 note on Monday, August 26th. Robert W. Baird set a $17.00 target price on shares of Hibbett Sports and gave the company a “hold” rating in a research note on Monday, August 26th. Finally, Zacks Investment Research cut shares of Hibbett Sports from a “strong-buy” rating to a “hold” rating and set a $21.00 target price for the company. in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Hibbett Sports presently has a consensus rating of “Hold” and an average price target of $20.26.

HIBB traded down $0.34 during trading on Tuesday, hitting $25.22. 12,472 shares of the company traded hands, compared to its average volume of 677,426. The company has a market cap of $458.19 million, a PE ratio of 14.27, a P/E/G ratio of 1.09 and a beta of 0.48. The stock’s 50-day simple moving average is $23.77 and its two-hundred day simple moving average is $20.35. Hibbett Sports has a 1 year low of $13.08 and a 1 year high of $26.75. The company has a current ratio of 1.64, a quick ratio of 0.48 and a debt-to-equity ratio of 0.55.

Hibbett Sports (NASDAQ:HIBB) last posted its earnings results on Friday, August 23rd. The company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.03. The company had revenue of $252.40 million during the quarter, compared to analysts’ expectations of $255.71 million. Hibbett Sports had a net margin of 2.39% and a return on equity of 11.89%. Hibbett Sports’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the company posted ($0.06) earnings per share. Equities analysts expect that Hibbett Sports will post 2.19 EPS for the current year.

In related news, VP Cathy E. Pryor sold 11,000 shares of Hibbett Sports stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $25.00, for a total transaction of $275,000.00. Following the completion of the transaction, the vice president now directly owns 446 shares of the company’s stock, valued at approximately $11,150. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ronald P. Blahnik purchased 6,125 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $15.84 per share, with a total value of $97,020.00. Following the completion of the purchase, the senior vice president now owns 14,700 shares in the company, valued at approximately $232,848. The disclosure for this purchase can be found here. Insiders sold a total of 13,227 shares of company stock valued at $329,221 over the last three months. Corporate insiders own 2.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in HIBB. Tower Research Capital LLC TRC lifted its holdings in Hibbett Sports by 1,236.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,336 shares of the company’s stock valued at $31,000 after buying an additional 1,236 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Hibbett Sports during the 2nd quarter worth about $39,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Hibbett Sports during the 3rd quarter worth about $41,000. Point72 Hong Kong Ltd purchased a new stake in shares of Hibbett Sports during the 2nd quarter worth about $66,000. Finally, Menta Capital LLC purchased a new stake in shares of Hibbett Sports during the 2nd quarter worth about $191,000.

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. 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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