Hibbett (NASDAQ:HIBB) PT Lowered to $50.00 at Robert W. Baird

Hibbett (NASDAQ:HIBB – Get Rating) had its price objective reduced by analysts at Robert W. Baird from $80.00 to $50.00 in a research note issued on Friday, The Fly reports. Robert W. Baird’s target price would suggest a potential upside of 27.58% from the stock’s previous close.

A number of other research firms have also weighed in on HIBB. StockNews.com lowered Hibbett from a “buy” rating to a “hold” rating in a report on Monday. Bank of America lowered Hibbett from a “buy” rating to an “underperform” rating in a report on Friday. Jefferies Financial Group started coverage on Hibbett in a report on Tuesday, March 14th. They set a “hold” rating and a $69.00 target price for the company. Williams Trading lowered Hibbett from a “buy” rating to a “hold” rating in a report on Sunday, May 21st. Finally, Benchmark reiterated a “buy” rating and set a $80.00 price objective on shares of Hibbett in a report on Monday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hibbett presently has a consensus rating of “Hold” and an average price target of $72.80.

Hibbett Trading Down 11.3 %

Shares of NASDAQ HIBB traded down $4.97 during trading hours on Friday, reaching $39.19. The stock had a trading volume of 1,202,446 shares, compared to its average volume of 280,147. The firm has a market cap of $499.67 million, a price-to-earnings ratio of 4.08, a P/E/G ratio of 0.39 and a beta of 1.58. The business’s fifty day moving average price is $55.70 and its two-hundred day moving average price is $63.28. Hibbett has a 52-week low of $38.45 and a 52-week high of $75.38.

Hibbett (NASDAQ:HIBB – Get Rating) last announced its quarterly earnings results on Friday, March 3rd. The company reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.05). The firm had revenue of $458.30 million during the quarter, compared to analysts’ expectations of $476.57 million. Hibbett had a net margin of 7.50% and a return on equity of 38.15%. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. Equities research analysts anticipate that Hibbett will post 9.3 earnings per share for the current fiscal year.

Insider Activity at Hibbett

In related news, Director Terrance G. Finley sold 5,605 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $71.65, for a total value of $401,598.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Terrance G. Finley sold 5,605 shares of the stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $71.65, for a total transaction of $401,598.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dorlisa K. Flur sold 714 shares of the firm’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $60.00, for a total transaction of $42,840.00. Following the completion of the transaction, the director now directly owns 5,598 shares in the company, valued at $335,880. The disclosure for this sale can be found here. Insiders have sold a total of 14,473 shares of company stock valued at $943,300 in the last ninety days. Company insiders own 2.98% of the company’s stock.

Institutional Trading of Hibbett

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi increased its holdings in shares of Hibbett by 15.2% during the 4th quarter. Amundi now owns 1,222 shares of the company’s stock worth $87,000 after buying an additional 161 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in Hibbett by 1.0% in the 4th quarter. SummerHaven Investment Management LLC now owns 16,971 shares of the company’s stock valued at $1,158,000 after purchasing an additional 169 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in Hibbett by 0.8% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 24,802 shares of the company’s stock valued at $1,463,000 after purchasing an additional 189 shares during the last quarter. KBC Group NV increased its holdings in Hibbett by 24.8% in the 1st quarter. KBC Group NV now owns 1,182 shares of the company’s stock valued at $70,000 after purchasing an additional 235 shares during the last quarter. Finally, Brandywine Global Investment Management LLC increased its holdings in Hibbett by 0.6% in the 1st quarter. Brandywine Global Investment Management LLC now owns 38,764 shares of the company’s stock valued at $2,286,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 97.94% of the company’s stock.

About Hibbett

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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.