Hibbett Sports, Inc. (NASDAQ:HIBB) Lowered to “Sell” at Forward View
Forward View downgraded shares of Hibbett Sports, Inc. (NASDAQ:HIBB) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning. Forward View also issued estimates for Hibbett Sports’ Q2 2018 earnings at ($0.20) EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $1.28 EPS, Q1 2019 earnings at $0.51 EPS, Q2 2019 earnings at ($0.03) EPS, Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.44 EPS and FY2019 earnings at $1.36 EPS.
Other research analysts have also recently issued reports about the stock. B. Riley reissued a neutral rating and set a $29.00 price objective on shares of Hibbett Sports in a report on Wednesday, April 26th. Zacks Investment Research raised shares of Hibbett Sports from a strong sell rating to a hold rating in a report on Tuesday, April 18th. Canaccord Genuity set a $25.00 price objective on shares of Hibbett Sports and gave the company a hold rating in a report on Friday, May 19th. BidaskClub raised shares of Hibbett Sports from a strong sell rating to a sell rating in a report on Wednesday, July 19th. Finally, Stifel Nicolaus reissued a hold rating and set a $25.00 price objective (down from $27.00) on shares of Hibbett Sports in a report on Friday, May 19th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $26.61.
Hibbett Sports (NASDAQ HIBB) opened at 15.25 on Wednesday. Hibbett Sports has a 52-week low of $12.90 and a 52-week high of $45.85. The company has a market capitalization of $316.68 million, a P/E ratio of 6.25 and a beta of 0.76. The stock’s 50 day moving average is $20.00 and its 200-day moving average is $26.41.
Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings data on Thursday, May 18th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Hibbett Sports had a net margin of 5.59% and a return on equity of 16.39%. The firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $275.49 million. During the same period in the previous year, the company earned $1.22 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts predict that Hibbett Sports will post $1.85 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised 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 worth $86,891,000 after buying an additional 2,942,351 shares during the last quarter. Norges Bank purchased a new position in Hibbett Sports during the fourth quarter worth $7,390,000. Dimensional Fund Advisors LP raised 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 worth $23,619,000 after buying an additional 161,035 shares during the last quarter. Vanguard Group Inc. raised 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 worth $59,147,000 after buying an additional 140,569 shares during the last quarter. Finally, Boston Partners purchased a new position in Hibbett Sports during the first quarter worth $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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