Hibbett Sports (NASDAQ:HIBB) Stock Price Down 5.9%

Shares of Hibbett Sports, Inc. (NASDAQ:HIBB) were down 5.9% on Friday . The stock traded as low as $75.12 and last traded at $75.12. Approximately 4,612 shares changed hands during trading, a decline of 99% from the average daily volume of 458,745 shares. The stock had previously closed at $79.83.

Several research analysts have recently weighed in on HIBB shares. Monness Crespi & Hardt boosted their price target on shares of Hibbett Sports from $97.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, August 30th. Telsey Advisory Group initiated coverage on shares of Hibbett Sports in a research report on Thursday, July 8th. They issued an “outperform” rating and a $110.00 target price on the stock. Benchmark initiated coverage on shares of Hibbett Sports in a research report on Wednesday, July 14th. They issued a “buy” rating and a $110.00 target price on the stock. Bank of America upped their target price on shares of Hibbett Sports from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, August 30th. Finally, Zacks Investment Research cut shares of Hibbett Sports from a “strong-buy” rating to a “hold” rating and set a $97.00 target price on the stock. in a research report on Wednesday, August 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $101.00.

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 0.32 and a beta of 1.83. The company has a quick ratio of 1.00, a current ratio of 2.06 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $87.37 and its 200-day moving average price is $81.68.

Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings results on Thursday, August 26th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $1.62. The business had revenue of $419.30 million for the quarter, compared to analysts’ expectations of $311.52 million. Hibbett Sports had a net margin of 11.05% and a return on equity of 45.01%. The business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 earnings per share. On average, sell-side analysts predict that Hibbett Sports, Inc. will post 11.3 earnings per share for the current fiscal year.

The firm also recently declared a dividend, which will be paid on Friday, October 1st. Stockholders of record on Thursday, September 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 8th. Hibbett Sports’s dividend payout ratio is presently 16.34%.

In other news, SVP Benjamin Ashley Knighten bought 1,250 shares of the business’s stock in a transaction that occurred on Monday, June 28th. The shares were purchased at an average cost of $81.00 per share, for a total transaction of $101,250.00. Following the completion of the purchase, the senior vice president now owns 6,618 shares of the company’s stock, valued at $536,058. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alton E. Yother sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $97.36, for a total transaction of $486,800.00. Following the sale, the director now owns 35,227 shares in the company, valued at $3,429,700.72. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Hibbett Sports by 5.1% in the first quarter. BlackRock Inc. now owns 2,786,853 shares of the company’s stock valued at $191,986,000 after purchasing an additional 136,484 shares during the last quarter. FMR LLC increased its stake in Hibbett Sports by 0.3% in the first quarter. FMR LLC now owns 1,329,262 shares of the company’s stock valued at $30,321,000 after purchasing an additional 3,600 shares during the last quarter. State Street Corp increased its stake in Hibbett Sports by 5.9% in the second quarter. State Street Corp now owns 630,157 shares of the company’s stock valued at $56,481,000 after purchasing an additional 35,081 shares during the last quarter. Macquarie Group Ltd. increased its stake in Hibbett Sports by 1.8% in the second quarter. Macquarie Group Ltd. now owns 573,311 shares of the company’s stock valued at $51,386,000 after purchasing an additional 10,360 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Hibbett Sports by 7.1% in the second quarter. Renaissance Technologies LLC now owns 388,877 shares of the company’s stock valued at $34,855,000 after purchasing an additional 25,700 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.

Hibbett Sports Company Profile (NASDAQ:HIBB)

Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.

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