Bank of America Upgrades Hibbett Sports (HIBB) to Buy

Hibbett Sports (NASDAQ:HIBB) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $12.00 target price on the stock, down from their prior target price of $14.00. Bank of America’s target price suggests a potential downside of 51.71% from the company’s previous close.

A number of other analysts also recently commented on HIBB. TheStreet upgraded shares of Hibbett Sports from a “d+” rating to a “c” rating in a report on Tuesday, November 21st. Canaccord Genuity upgraded shares of Hibbett Sports from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Monday, January 8th. BidaskClub downgraded shares of Hibbett Sports from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 6th. Robert W. Baird reiterated a “hold” rating and issued a $21.00 price objective on shares of Hibbett Sports in a report on Wednesday, January 3rd. Finally, Forward View upgraded shares of Hibbett Sports to a “hold” rating and set a $18.00 price objective for the company in a report on Saturday, November 18th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $21.53.

Shares of Hibbett Sports (HIBB) traded up $0.10 during trading on Tuesday, reaching $24.85. 754,400 shares of the company were exchanged, compared to its average volume of 995,309. The stock has a market cap of $474.36, a price-to-earnings ratio of 14.28, a PEG ratio of 7.55 and a beta of 0.96. Hibbett Sports has a 1 year low of $9.40 and a 1 year high of $34.75.

Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings data on Friday, November 17th. The company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.15. The company had revenue of $237.80 million during the quarter, compared to the consensus estimate of $219.38 million. Hibbett Sports had a net margin of 3.94% and a return on equity of 11.38%. Hibbett Sports’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. equities research analysts expect that Hibbett Sports will post 1.52 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new stake in Hibbett Sports in the 4th quarter valued at approximately $407,000. Acadian Asset Management LLC acquired a new stake in Hibbett Sports in the 4th quarter valued at approximately $3,589,000. Schwab Charles Investment Management Inc. increased its holdings in Hibbett Sports by 15.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 335,566 shares of the company’s stock valued at $6,846,000 after purchasing an additional 44,155 shares during the last quarter. Bank of Montreal Can increased its holdings in Hibbett Sports by 17.9% in the 4th quarter. Bank of Montreal Can now owns 110,855 shares of the company’s stock valued at $2,261,000 after purchasing an additional 16,824 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Hibbett Sports by 10.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 207,993 shares of the company’s stock valued at $2,964,000 after purchasing an additional 20,013 shares during the last quarter.

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Hibbett Sports Company Profile

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.

Analyst Recommendations for Hibbett Sports (NASDAQ:HIBB)

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