Hibbett Sports, Inc. (HIBB) Upgraded at UBS AG
UBS AG upgraded shares of Hibbett Sports, Inc. (NASDAQ:HIBB) from a neutral rating to a positive rating in a research note released on Wednesday, The Fly reports.
Several other brokerages have also recently issued reports on HIBB. BidaskClub cut shares of Hibbett Sports from a sell rating to a strong sell rating in a report on Thursday, July 27th. Robert W. Baird reiterated a neutral rating and set a $15.00 target price (down from $25.00) on shares of Hibbett Sports in a report on Tuesday, July 25th. BMO Capital Markets reiterated a hold rating and set a $13.00 target price on shares of Hibbett Sports in a report on Thursday, July 27th. Canaccord Genuity set a $11.00 target price on shares of Hibbett Sports and gave the stock a hold rating in a report on Monday, August 21st. Finally, Forward View cut shares of Hibbett Sports to a sell rating and set a $10.00 target price on the stock. in a report on Monday, August 28th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and an average target price of $22.22.
Shares of Hibbett Sports (HIBB) traded up 3.02% on Wednesday, reaching $13.65. 577,904 shares of the company were exchanged. The company has a market capitalization of $280.36 million, a price-to-earnings ratio of 6.67 and a beta of 0.76. Hibbett Sports has a 52 week low of $9.40 and a 52 week high of $45.85. The company’s 50-day moving average is $12.94 and its 200-day moving average is $21.39.
Hibbett Sports (NASDAQ:HIBB) last issued its earnings results on Friday, August 18th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. Hibbett Sports had a net margin of 4.68% and a return on equity of 13.38%. The company had revenue of $188.00 million for the quarter, compared to analysts’ expectations of $190.31 million. During the same period in the prior year, the business earned $0.29 EPS. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts expect that Hibbett Sports will post $1.30 EPS for the current fiscal year.
In related news, CEO Jeffry O. Rosenthal acquired 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average cost of $11.95 per share, with a total value of $29,875.00. Following the transaction, the chief executive officer now directly owns 82,703 shares of the company’s stock, valued at approximately $988,300.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Newsome acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average cost of $12.13 per share, with a total value of $121,300.00. Following the completion of the transaction, the director now directly owns 44,924 shares in the company, valued at $544,928.12. The disclosure for this purchase can be found here. Insiders purchased a total of 25,500 shares of company stock valued at $312,595 over the last ninety days. 1.60% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Thrivent Financial For Lutherans raised its position in shares of Hibbett Sports by 1.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 12,520 shares of the company’s stock valued at $260,000 after purchasing an additional 170 shares during the last quarter. Comerica Bank raised its position in shares of Hibbett Sports by 0.9% in the 1st quarter. Comerica Bank now owns 24,304 shares of the company’s stock valued at $629,000 after purchasing an additional 208 shares during the last quarter. Mason Street Advisors LLC raised its position in shares of Hibbett Sports by 5.0% in the 1st quarter. Mason Street Advisors LLC now owns 5,135 shares of the company’s stock valued at $151,000 after purchasing an additional 245 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Hibbett Sports by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,190 shares of the company’s stock valued at $123,000 after purchasing an additional 291 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Hibbett Sports by 0.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 44,517 shares of the company’s stock valued at $1,313,000 after purchasing an additional 416 shares during the last quarter.
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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