Hibbett Sports, Inc. (HIBB) Price Target Raised to $12.00
Hibbett Sports, Inc. (NASDAQ:HIBB) had its price target increased by Bank of America Corporation from $10.00 to $12.00 in a research report report published on Monday morning. Bank of America Corporation currently has an underperform rating on the stock.
Several other equities analysts have also recently commented on the stock. Robert W. Baird reaffirmed a neutral rating and set a $15.00 price target (down previously from $25.00) on shares of Hibbett Sports in a research report on Tuesday, July 25th. Forward View cut shares of Hibbett Sports to a sell rating and set a $10.00 price target on the stock. in a research report on Monday, August 28th. Zacks Investment Research raised shares of Hibbett Sports from a hold rating to a buy rating and set a $22.00 price target on the stock in a research report on Monday, July 24th. UBS AG raised shares of Hibbett Sports from a neutral rating to a positive rating in a research report on Wednesday, September 20th. Finally, Credit Suisse Group reaffirmed an underperform rating and set a $14.00 price target (down previously from $24.00) on shares of Hibbett Sports in a research report on Tuesday, July 25th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $22.56.
Shares of Hibbett Sports (NASDAQ:HIBB) opened at $19.15 on Monday. The firm has a market capitalization of $382.04, a PE ratio of 10.75, a PEG ratio of 5.94 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 announced its earnings results on Friday, November 17th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.15. The company had revenue of $237.80 million during the quarter, compared to the consensus estimate of $219.38 million. Hibbett Sports had a return on equity of 11.38% and a net margin of 3.94%. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. research analysts forecast that Hibbett Sports will post 1.45 EPS for the current fiscal year.
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In related news, Director Michael J. Newsome acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were acquired at an average price of $12.13 per share, for a total transaction of $121,300.00. Following the completion of the purchase, the director now directly owns 44,924 shares of the company’s stock, valued at $544,928.12. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffry O. Rosenthal acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average price of $11.95 per share, for a total transaction of $29,875.00. Following the purchase, the chief executive officer now directly owns 82,703 shares of the company’s stock, valued at $988,300.85. The disclosure for this purchase can be found here. Insiders acquired 25,500 shares of company stock worth $312,595 in the last 90 days. 1.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of HIBB. JPMorgan Chase & Co. increased its stake in shares of Hibbett Sports by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 4,190 shares of the company’s stock valued at $123,000 after acquiring an additional 291 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Hibbett Sports during the third quarter valued at approximately $143,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Hibbett Sports by 52.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,750 shares of the company’s stock valued at $161,000 after acquiring an additional 2,650 shares during the period. UBS Group AG increased its stake in shares of Hibbett Sports by 135.8% during the first quarter. UBS Group AG now owns 6,379 shares of the company’s stock valued at $188,000 after acquiring an additional 3,674 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in shares of Hibbett Sports during the third quarter valued at approximately $204,000.
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.
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