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

According to Zacks, “Hibbett remains focused on strategic growth initiatives, as evident from its latest store-to-home capacity and loyalty program. Moreover, the company recently launched its eCommerce site with fully integrated distribution system, highlighting its omni-channel efforts. Also, Hibbett’s healthy financial status remains noteworthy. However, the company has underperformed the broader industry in the last three months due to back-to-back dismal sales performances. The company’s surprise history reveals that it has lagged sales estimates in eight out of the last nine quarters. Further, the company recently revealed that its comps for the fiscal second quarter are likely to fall 10% due to very challenging sales trends. It also provided a bleak earnings view for the quarter. Also, its consumer driven business remains prone to unstable economic conditions. Nonetheless, the company has a mixed record of earnings surprises in recent quarters.”

A number of other research analysts also recently weighed in on HIBB. Vetr downgraded Hibbett Sports from a strong-buy rating to a buy rating and set a $32.50 target price on the stock. in a report on Wednesday, March 29th. Susquehanna Bancshares Inc reiterated a neutral rating and set a $32.00 target price (down previously from $33.00) on shares of Hibbett Sports in a report on Tuesday, April 18th. Canaccord Genuity reiterated a hold rating and set a $29.00 target price on shares of Hibbett Sports in a report on Wednesday, April 26th. B. Riley reiterated a neutral rating and set a $29.00 target price on shares of Hibbett Sports in a report on Wednesday, April 26th. Finally, MKM Partners reiterated a neutral rating and set a $27.00 target price (down previously from $29.00) on shares of Hibbett Sports in a report on Monday, May 1st. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $26.61.

Hibbett Sports (NASDAQ HIBB) opened at 15.25 on Thursday. Hibbett Sports has a one year low of $12.90 and a one year high of $45.85. The firm has a 50-day moving average price of $20.00 and a 200 day moving average price of $26.41. The company has a market cap of $316.68 million, a price-to-earnings ratio of 6.25 and a beta of 0.77.

Hibbett Sports (NASDAQ:HIBB) last posted its earnings results on Thursday, May 18th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Hibbett Sports had a return on equity of 16.39% and a net margin of 5.59%. The firm had revenue of $275.70 million for the quarter, compared to the consensus estimate of $275.49 million. During the same quarter in the prior year, the business earned $1.22 EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts expect that Hibbett Sports will post $1.85 earnings per share for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Hibbett Sports by 94,396.9% in the first quarter. BlackRock Inc. now owns 2,945,468 shares of the company’s stock valued at $86,891,000 after buying an additional 2,942,351 shares during the period. Norges Bank acquired a new position in Hibbett Sports during the fourth quarter valued at about $7,390,000. Dimensional Fund Advisors LP boosted its position in Hibbett Sports by 25.2% in the first quarter. Dimensional Fund Advisors LP now owns 800,637 shares of the company’s stock valued at $23,619,000 after buying an additional 161,035 shares during the period. Vanguard Group Inc. boosted its position in Hibbett Sports by 7.5% in the first quarter. Vanguard Group Inc. now owns 2,004,952 shares of the company’s stock valued at $59,147,000 after buying an additional 140,569 shares during the period. Finally, Boston Partners acquired a new position in Hibbett Sports during the first quarter valued at about $3,342,000.

About Hibbett Sports

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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