Susquehanna Bancshares Inc Upgrades Hibbett Sports, Inc. (HIBB) to “Positive”
Hibbett Sports, Inc. (NASDAQ:HIBB) was upgraded by Susquehanna Bancshares Inc from a “neutral” rating to a “positive” rating in a research note issued to investors on Wednesday. The brokerage currently has a $17.00 price target on the stock, up from their prior price target of $11.00. Susquehanna Bancshares Inc’s price target suggests a potential upside of 28.30% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. TheStreet cut shares of Hibbett Sports from a “c-” rating to a “d+” rating in a research note on Wednesday, September 6th. Stifel Nicolaus restated a “hold” rating and set a $17.00 price objective (down from $25.00) on shares of Hibbett Sports in a research note on Tuesday, July 25th. Credit Suisse Group restated an “underperform” rating and set a $14.00 price objective (down from $24.00) on shares of Hibbett Sports in a research note on Tuesday, July 25th. BidaskClub upgraded shares of Hibbett Sports from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, BMO Capital Markets set a $10.00 price objective on shares of Hibbett Sports and gave the company a “hold” rating in a research note on Friday, August 18th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Hibbett Sports presently has a consensus rating of “Hold” and a consensus target price of $22.22.
Shares of Hibbett Sports (NASDAQ HIBB) traded up 3.77% during trading on Wednesday, hitting $13.75. 76,233 shares of the stock were exchanged. Hibbett Sports has a 12-month low of $9.40 and a 12-month high of $45.85. The stock has a market cap of $282.41 million, a P/E ratio of 6.72 and a beta of 0.76. The stock has a 50-day moving average of $12.94 and a 200 day moving average of $21.39.
Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings data on Friday, August 18th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05. Hibbett Sports had a net margin of 4.68% and a return on equity of 13.38%. The business had revenue of $188.00 million for the quarter, compared to analysts’ expectations of $190.31 million. During the same period in the previous year, the business earned $0.29 earnings per share. The company’s revenue was down 9.1% on a year-over-year basis. Equities analysts predict that Hibbett Sports will post $1.30 earnings per share for the current fiscal year.
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In related news, Director Michael J. Newsome acquired 10,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were purchased at an average price of $12.13 per share, for a total transaction of $121,300.00. Following the acquisition, the director now owns 44,924 shares in the company, valued at $544,928.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffry O. Rosenthal acquired 2,500 shares of the business’s stock in a transaction 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 acquisition, the chief executive officer now owns 82,703 shares in the company, valued at approximately $988,300.85. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 25,500 shares of company stock worth $312,595. Corporate insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial For Lutherans raised its holdings in Hibbett Sports by 1.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 12,520 shares of the company’s stock worth $260,000 after buying an additional 170 shares during the period. Comerica Bank raised its holdings in Hibbett Sports by 0.9% during the 1st quarter. Comerica Bank now owns 24,304 shares of the company’s stock worth $629,000 after buying an additional 208 shares during the period. Mason Street Advisors LLC raised its holdings in Hibbett Sports by 5.0% during the 1st quarter. Mason Street Advisors LLC now owns 5,135 shares of the company’s stock worth $151,000 after buying an additional 245 shares during the period. JPMorgan Chase & Co. raised its holdings in Hibbett Sports by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 4,190 shares of the company’s stock worth $123,000 after buying an additional 291 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Hibbett Sports by 0.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 44,517 shares of the company’s stock worth $1,313,000 after buying an additional 416 shares during the period.
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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