Zacks Investment Research downgraded shares of Hibbett Sports, Inc. (NASDAQ:HIBB) from a buy rating to a hold rating in a research report report published on Thursday.

According to Zacks, “Hibbett has outperformed the industry in three months mainly backed by robust earnings trend and solid third-quarter fiscal 2018. The company retained positive earnings trend in the fiscal third-quarter, which marked its third straight bottom line beat. Also, its top line outpaced estimates after two consecutive quarters of miss. Results were driven by improvement in the company’s footwear and apparel businesses, alongside strong e-commerce sales. Further, management substantially raised earnings view for fiscal 2018. Moreover, the company remains well positioned to gain from the growth of omni-channel capabilities, improved Rewards members, small market strategy and inventory management initiatives. However, the company’s margins continue to be under pressure due to increased promotions and markdowns to maintain lower inventory levels, along with higher freight and SG&A expenses, which is likely to persist.”

A number of other analysts also recently commented on HIBB. Forward View upgraded shares of Hibbett Sports to a hold rating and set a $18.00 price target on the stock in a research report on Saturday, November 18th. TheStreet downgraded shares of Hibbett Sports from a c- rating to a d+ rating in a research report on Wednesday, September 6th. Susquehanna Bancshares Inc restated a buy rating and set a $21.00 price target on shares of Hibbett Sports in a research report on Monday. Robert W. Baird boosted their price target on shares of Hibbett Sports from $10.00 to $16.00 and gave the stock a positive rating in a research report on Friday, November 17th. Finally, Bank of America Corporation boosted their price target on shares of Hibbett Sports from $10.00 to $12.00 and gave the stock an underperform rating in a research report on Monday. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $22.56.

Hibbett Sports (HIBB) traded up $0.55 during trading on Thursday, reaching $19.15. 1,237,300 shares of the company’s stock were exchanged, compared to its average volume of 680,865. The firm has a market cap of $393.34, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 5.93 and a beta of 0.72. Hibbett Sports has a 52-week low of $9.40 and a 52-week high of $43.40.

Hibbett Sports (NASDAQ:HIBB) last posted its earnings results on Friday, November 17th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.15. The firm had revenue of $237.80 million during the quarter, compared to analyst estimates of $219.38 million. Hibbett Sports had a net margin of 3.94% and a return on equity of 11.38%. Hibbett Sports’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. sell-side analysts expect that Hibbett Sports will post 1.5 EPS for the current year.

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In other Hibbett Sports news, CEO Jeffry O. Rosenthal bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average cost of $11.95 per share, for a total transaction of $29,875.00. Following the acquisition, the chief executive officer now directly owns 82,703 shares of the company’s stock, valued at $988,300.85. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ralph T. Parks bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was acquired at an average price of $12.59 per share, for a total transaction of $125,900.00. Following the completion of the acquisition, the director now directly owns 22,802 shares in the company, valued at $287,077.18. The disclosure for this purchase can be found here. Insiders purchased a total of 15,500 shares of company stock worth $191,295 over the last quarter. Insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial For Lutherans raised its holdings in shares of Hibbett Sports by 1.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 12,520 shares of the company’s stock worth $260,000 after purchasing an additional 170 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Hibbett Sports by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,190 shares of the company’s stock worth $123,000 after purchasing an additional 291 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Hibbett Sports by 0.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 44,517 shares of the company’s stock worth $1,313,000 after purchasing an additional 416 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Hibbett Sports by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 40,131 shares of the company’s stock worth $833,000 after purchasing an additional 470 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Hibbett Sports by 11.9% in the 2nd quarter. Voya Investment Management LLC now owns 12,007 shares of the company’s stock worth $249,000 after purchasing an additional 1,278 shares in the last quarter.

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.

Analyst Recommendations for Hibbett Sports (NASDAQ:HIBB)

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