Hibbett Sports (HIBB) Lowered to “Strong Sell” at ValuEngine

Hibbett Sports (NASDAQ:HIBB) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

Other analysts also recently issued reports about the company. UBS Group downgraded Hibbett Sports from a “positive” rating to a “neutral” rating in a report on Thursday, October 25th. Susquehanna Bancshares downgraded Hibbett Sports from a “positive” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $15.00 in a report on Thursday, October 25th. BidaskClub downgraded Hibbett Sports from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Zacks Investment Research downgraded Hibbett Sports from a “hold” rating to a “strong sell” rating in a report on Friday, October 5th. Finally, Bank of America reissued an “underperform” rating and issued a $15.00 target price (down from $18.00) on shares of Hibbett Sports in a report on Friday, November 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Hibbett Sports has a consensus rating of “Hold” and a consensus target price of $21.30.

Shares of NASDAQ HIBB opened at $15.56 on Tuesday. The stock has a market cap of $298.06 million, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 1.28 and a beta of 0.55. Hibbett Sports has a 1 year low of $13.08 and a 1 year high of $29.60.

Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings results on Tuesday, November 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The business had revenue of $216.89 million for the quarter, compared to analysts’ expectations of $217.56 million. Hibbett Sports had a return on equity of 9.45% and a net margin of 3.25%. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. As a group, sell-side analysts predict that Hibbett Sports will post 1.58 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can increased its position in Hibbett Sports by 29.6% in the 3rd quarter. Bank of Montreal Can now owns 146,125 shares of the company’s stock valued at $2,747,000 after acquiring an additional 33,332 shares during the period. FMR LLC increased its position in Hibbett Sports by 2.4% in the 3rd quarter. FMR LLC now owns 1,369,507 shares of the company’s stock valued at $25,746,000 after acquiring an additional 32,545 shares during the period. Waddell & Reed Financial Inc. increased its position in Hibbett Sports by 14.4% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 64,500 shares of the company’s stock valued at $1,477,000 after acquiring an additional 8,100 shares during the period. Northern Trust Corp increased its position in Hibbett Sports by 2.1% in the 2nd quarter. Northern Trust Corp now owns 238,606 shares of the company’s stock valued at $5,464,000 after acquiring an additional 4,995 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Hibbett Sports by 9.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 397,537 shares of the company’s stock valued at $9,104,000 after acquiring an additional 33,951 shares during the period.

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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