Hibbett Sports (NASDAQ:HIBB) had its price target dropped by investment analysts at MKM Partners to $20.00 in a research report issued on Monday, The Fly reports. The brokerage currently has a “neutral” rating on the stock. MKM Partners’ price objective indicates a potential upside of 1.52% from the company’s previous close.
Several other brokerages also recently weighed in on HIBB. Canaccord Genuity downgraded Hibbett Sports from a “buy” rating to a “hold” rating and lowered their price objective for the company from $31.00 to $21.00 in a research report on Monday. TheStreet upgraded Hibbett Sports from a “c” rating to a “b-” rating in a research report on Wednesday, May 9th. Stephens boosted their price objective on Hibbett Sports from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday. Zacks Investment Research upgraded Hibbett Sports from a “sell” rating to a “hold” rating in a research report on Friday, May 18th. Finally, BidaskClub upgraded Hibbett Sports from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.64.
HIBB stock traded down $0.82 during midday trading on Monday, hitting $19.70. The company had a trading volume of 88,283 shares, compared to its average volume of 960,908. Hibbett Sports has a 52 week low of $11.05 and a 52 week high of $29.60. The company has a market capitalization of $388.86 million, a P/E ratio of 12.09, a PEG ratio of 1.43 and a beta of 0.79.
Institutional investors have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC bought a new position in shares of Hibbett Sports during the second quarter valued at approximately $101,000. C M Bidwell & Associates Ltd. raised its holdings in shares of Hibbett Sports by 61.7% during the first quarter. C M Bidwell & Associates Ltd. now owns 7,630 shares of the company’s stock valued at $183,000 after acquiring an additional 2,910 shares in the last quarter. Lido Advisors LLC bought a new position in shares of Hibbett Sports during the first quarter valued at approximately $200,000. Element Capital Management LLC bought a new position in shares of Hibbett Sports during the first quarter valued at approximately $207,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Hibbett Sports during the fourth quarter valued at approximately $208,000.
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. As of March 28, 2018, it operated approximately 1,000 stores primarily in small and mid-sized communities in the United States.
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