Hibbett Sports (HIBB) Price Target Cut to $20.00

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.

Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings data on Friday, August 24th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.14). Hibbett Sports had a net margin of 3.79% and a return on equity of 11.04%. The company had revenue of $211.10 million during the quarter, compared to the consensus estimate of $215.55 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. equities analysts forecast that Hibbett Sports will post 1.78 EPS for the current year.

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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