Hibbett Sports, Inc. (HIBB) Rating Reiterated by SunTrust Banks, Inc.
Hibbett Sports, Inc. (NASDAQ:HIBB)‘s stock had its “hold” rating reissued by equities research analysts at SunTrust Banks, Inc. in a report released on Tuesday. They currently have a $13.00 target price on the stock. SunTrust Banks, Inc.’s price target suggests a potential downside of 1.52% from the company’s previous close.
A number of other equities research analysts have also recently commented on the company. Robert W. Baird reissued a “neutral” rating and issued a $15.00 price objective (down previously from $25.00) on shares of Hibbett Sports in a research note on Tuesday, July 25th. Forward View cut Hibbett Sports to a “sell” rating and set a $10.00 price objective for the company. in a research note on Monday, August 28th. Zacks Investment Research raised Hibbett Sports from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Monday, July 24th. BidaskClub raised Hibbett Sports from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, UBS AG raised Hibbett Sports from a “neutral” rating to a “positive” rating in a research note on Wednesday, September 20th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Hibbett Sports presently has an average rating of “Hold” and a consensus target price of $21.06.
Hibbett Sports (HIBB) traded up 1.3250% during trading on Tuesday, hitting $13.3749. The stock had a trading volume of 96,737 shares. The stock has a 50 day moving average of $13.36 and a 200 day moving average of $19.44. The firm has a market capitalization of $274.71 million, a P/E ratio of 6.5403 and a beta of 0.78. Hibbett Sports has a one year low of $9.40 and a one year high of $45.85.
Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings data on Friday, August 18th. The company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. Hibbett Sports had a return on equity of 13.38% and a net margin of 4.68%. The firm had revenue of $188.00 million during the quarter, compared to analysts’ expectations of $190.31 million. During the same quarter last year, the firm posted $0.29 earnings per share. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. Equities research analysts expect that Hibbett Sports will post $1.30 earnings per share for the current fiscal year.
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In other Hibbett Sports news, Director Ralph T. Parks purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were acquired at an average cost of $12.59 per share, for a total transaction of $125,900.00. Following the completion of the acquisition, the director now owns 22,802 shares of the company’s stock, valued at approximately $287,077.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffry O. Rosenthal purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average price of $11.95 per share, for a total transaction of $29,875.00. Following the completion of the acquisition, the chief executive officer now directly owns 82,703 shares of the company’s stock, valued at approximately $988,300.85. The disclosure for this purchase can be found here. Insiders have purchased 25,500 shares of company stock worth $312,595 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of HIBB. BlackRock Inc. lifted its holdings in Hibbett Sports by 94,396.9% during the first quarter. BlackRock Inc. now owns 2,945,468 shares of the company’s stock worth $86,891,000 after acquiring an additional 2,942,351 shares during the period. Renaissance Technologies LLC bought a new stake in Hibbett Sports during the second quarter worth $15,077,000. Dimensional Fund Advisors LP lifted its holdings in Hibbett Sports by 63.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,312,080 shares of the company’s stock worth $27,226,000 after acquiring an additional 511,443 shares during the period. Koch Industries Inc. bought a new stake in Hibbett Sports during the second quarter worth $313,000. Finally, Nordea Investment Management AB lifted its holdings in Hibbett Sports by 74.6% during the second quarter. Nordea Investment Management AB now owns 651,637 shares of the company’s stock worth $13,521,000 after acquiring an additional 278,395 shares during the period.
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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