Hibbett Sports Inc. (NASDAQ:HIBB) dropped 4.7% on Wednesday . The company traded as low as $37.43 and last traded at $38.08, with a volume of 451,917 shares changing hands. The stock had previously closed at $39.96.

HIBB has been the subject of a number of research analyst reports. Zacks Investment Research lowered Hibbett Sports from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. MKM Partners initiated coverage on Hibbett Sports in a research report on Friday, April 29th. They set a “neutral” rating and a $39.00 target price for the company. Susquehanna decreased their target price on Hibbett Sports from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, May 16th. B. Riley reissued a “neutral” rating and issued a $38.00 price target on shares of Hibbett Sports in a research report on Tuesday, May 17th. Finally, Robert W. Baird reissued a “hold” rating on shares of Hibbett Sports in a research report on Monday, May 16th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $37.06.

The firm’s 50 day moving average is $35.78 and its 200-day moving average is $34.99. The stock has a market cap of $835.59 million and a price-to-earnings ratio of 12.39.

Hibbett Sports (NASDAQ:HIBB) last released its earnings results on Friday, May 20th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.02. During the same period in the previous year, the business posted $1.09 EPS. The company earned $282.10 million during the quarter. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts forecast that Hibbett Sports Inc. will post $2.98 earnings per share for the current year.

In related news, Director Alton E. Yother sold 1,331 shares of Hibbett Sports stock in a transaction on Monday, July 11th. The stock was sold at an average price of $35.62, for a total value of $47,410.22. Following the completion of the transaction, the director now directly owns 1,331 shares in the company, valued at $47,410.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Cathy E. Pryor sold 5,000 shares of Hibbett Sports stock in a transaction on Monday, June 20th. The shares were sold at an average price of $35.18, for a total value of $175,900.00. Following the completion of the transaction, the vice president now owns 19,608 shares of the company’s stock, valued at $689,809.44. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Hibbett Sports stock. First Trust Advisors LP increased its position in shares of Hibbett Sports Inc. (NASDAQ:HIBB) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,986 shares of the company’s stock after buying an additional 2,224 shares during the period. First Trust Advisors LP owned 0.19% of Hibbett Sports worth $1,300,000 as of its most recent SEC filing.

Hibbett Sports, Inc operates sporting goods stores in small to mid-sized markets, predominantly in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company operates around 988 retail stores in 31 states consisting of approximately 969 Hibbett Sports stores and around 19 Sports Additions athletic shoe stores.

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