BofA Securities upgraded shares of Hibbett Sports (NASDAQ:HIBB) from an underperform rating to a buy rating in a report issued on Thursday, Briefing.com Automated Import reports. The brokerage currently has $30.00 price objective on the stock, up from their previous price objective of $10.00.
HIBB has been the subject of several other research reports. Robert W. Baird dropped their price target on shares of Hibbett Sports from $32.00 to $15.00 and set a neutral rating for the company in a research report on Friday, March 20th. Susquehanna Bancshares upgraded shares of Hibbett Sports from a neutral rating to a positive rating and upped their price objective for the stock from $14.00 to $25.00 in a report on Wednesday, May 27th. ValuEngine upgraded shares of Hibbett Sports from a sell rating to a hold rating in a report on Friday, May 1st. Bank of America upgraded shares of Hibbett Sports from an underperform rating to a buy rating and upped their price objective for the stock from $10.00 to $30.00 in a report on Thursday. Finally, Zacks Investment Research upgraded shares of Hibbett Sports from a strong sell rating to a hold rating and set a $14.00 price objective for the company in a report on Tuesday, May 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $23.00.
Shares of HIBB opened at $22.98 on Thursday. The stock has a market capitalization of $379.91 million, a P/E ratio of 22.75, a PEG ratio of 4.90 and a beta of 1.61. The company has a quick ratio of 0.57, a current ratio of 1.56 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $19.65 and a two-hundred day simple moving average of $19.68. Hibbett Sports has a twelve month low of $7.33 and a twelve month high of $30.98.
Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.12). The firm had revenue of $269.80 million for the quarter, compared to analysts’ expectations of $211.45 million. Hibbett Sports had a negative net margin of 1.42% and a positive return on equity of 5.39%. The company’s quarterly revenue was down 21.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 EPS. Sell-side analysts expect that Hibbett Sports will post 0.65 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of HIBB. TCW Group Inc. bought a new position in shares of Hibbett Sports in the 1st quarter worth about $3,281,000. Driehaus Capital Management LLC purchased a new position in Hibbett Sports during the fourth quarter valued at approximately $8,144,000. AJO LP bought a new stake in shares of Hibbett Sports during the fourth quarter valued at approximately $6,032,000. Matarin Capital Management LLC bought a new stake in shares of Hibbett Sports during the first quarter valued at approximately $2,127,000. Finally, Madison Asset Management LLC bought a new stake in shares of Hibbett Sports during the fourth quarter valued at approximately $4,837,000.
About Hibbett Sports
Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. The company also operates Hibbett.com, an e-commerce Website. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.
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