Hibbett Sports, Inc. (HIBB) Cut to “Equal Weight” at Stephens

Stephens cut shares of Hibbett Sports, Inc. (NASDAQ:HIBB) from an overweight rating to an equal weight rating in a report published on Tuesday morning.

HIBB has been the subject of several other reports. Zacks Investment Research downgraded Hibbett Sports from a hold rating to a sell rating in a research report on Tuesday, December 20th. Goldman Sachs Group, Inc. (The) upgraded Hibbett Sports from a sell rating to a neutral rating and set a $34.00 target price for the company in a research report on Monday, January 30th. They noted that the move was a valuation call. Canaccord Genuity set a $41.00 target price on Hibbett Sports and gave the company a hold rating in a research report on Monday, December 12th. Sidoti downgraded Hibbett Sports from a buy rating to a neutral rating and dropped their target price for the company from $52.00 to $47.00 in a research report on Wednesday, December 7th. Finally, SunTrust Banks, Inc. downgraded Hibbett Sports from a buy rating to a hold rating and set a $34.00 target price for the company. in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $37.41.

Hibbett Sports (NASDAQ:HIBB) traded down 12.406% during trading on Tuesday, hitting $29.125. 1,612,018 shares of the stock traded hands. The company has a 50-day moving average price of $34.20 and a 200 day moving average price of $38.38. The stock has a market cap of $639.64 million, a PE ratio of 9.933 and a beta of 0.84. Hibbett Sports has a one year low of $28.55 and a one year high of $45.85.

Hibbett Sports (NASDAQ:HIBB) last posted its earnings results on Friday, November 18th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by $0.08. The firm earned $237 million during the quarter. Hibbett Sports had a net margin of 6.84% and a return on equity of 20.53%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 EPS. Analysts expect that Hibbett Sports will post $2.86 earnings per share for the current year.

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In other news, Director Alton E. Yother sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $41.49, for a total value of $207,450.00. Following the transaction, the director now owns 5,000 shares in the company, valued at $207,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Aberdeen Asset Management PLC UK raised its position in Hibbett Sports by 60.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 543,067 shares of the company’s stock worth $18,894,000 after buying an additional 204,526 shares in the last quarter. Principal Financial Group Inc. raised its position in Hibbett Sports by 1.4% in the second quarter. Principal Financial Group Inc. now owns 164,062 shares of the company’s stock worth $5,708,000 after buying an additional 2,283 shares in the last quarter. First Trust Advisors LP raised its position in Hibbett Sports by 28.8% in the third quarter. First Trust Advisors LP now owns 48,493 shares of the company’s stock worth $1,935,000 after buying an additional 10,831 shares in the last quarter. BlackRock Advisors LLC raised its position in Hibbett Sports by 9.3% in the third quarter. BlackRock Advisors LLC now owns 174,134 shares of the company’s stock worth $6,948,000 after buying an additional 14,825 shares in the last quarter. Finally, Hancock Holding Co. bought a new position in Hibbett Sports during the third quarter worth $7,980,000.

About Hibbett Sports

Hibbett Sports, Inc operates sporting goods stores in small to mid-sized markets in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company operates approximately 1,040 stores in over 30 states, which consists of approximately 1,020 Hibbett Sports stores and over 20 Sports Additions athletic shoe stores.

5 Day Chart for NASDAQ:HIBB

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