Hibbett Sports (NASDAQ:HIBB) Sets New 1-Year High at $41.05

Shares of Hibbett Sports, Inc. (NASDAQ:HIBB) reached a new 52-week high on Wednesday . The company traded as high as $41.05 and last traded at $40.80, with a volume of 1112 shares changing hands. The stock had previously closed at $39.71.

HIBB has been the topic of a number of recent analyst reports. Robert W. Baird reissued a “neutral” rating and issued a $35.00 price target (up from $28.00) on shares of Hibbett Sports in a report on Friday, August 28th. Credit Suisse Group raised their price target on shares of Hibbett Sports from $19.00 to $23.00 and gave the company an “underperform” rating in a report on Monday, August 31st. BofA Securities upgraded Hibbett Sports from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $30.00 in a research report on Thursday, July 2nd. TheStreet upgraded Hibbett Sports from a “c+” rating to a “b” rating in a research report on Friday, September 4th. Finally, Zacks Investment Research raised Hibbett Sports from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a report on Monday, August 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. Hibbett Sports presently has an average rating of “Buy” and an average price target of $32.00.

The company has a quick ratio of 0.96, a current ratio of 1.70 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $30.86 and its 200-day moving average price is $20.78. The stock has a market cap of $656.96 million, a P/E ratio of 20.58, a PEG ratio of 0.63 and a beta of 1.80.

Hibbett Sports (NASDAQ:HIBB) last posted its earnings results on Friday, August 28th. The company reported $2.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $1.80. The company had revenue of $441.07 million during the quarter, compared to analyst estimates of $408.43 million. Hibbett Sports had a net margin of 2.56% and a return on equity of 21.30%. Hibbett Sports’s revenue for the quarter was up 74.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. Sell-side analysts predict that Hibbett Sports, Inc. will post 4.34 earnings per share for the current year.

In other news, Director Terrance G. Finley sold 30,236 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $34.06, for a total value of $1,029,838.16. Following the completion of the sale, the director now directly owns 13,438 shares in the company, valued at approximately $457,698.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William G. Quinn sold 1,691 shares of Hibbett Sports stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $34.18, for a total transaction of $57,798.38. Following the transaction, the senior vice president now owns 4,956 shares in the company, valued at approximately $169,396.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,927 shares of company stock worth $1,274,237. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Hibbett Sports in the 2nd quarter worth $123,000. UBS Group AG increased its position in Hibbett Sports by 635.2% in the second quarter. UBS Group AG now owns 6,536 shares of the company’s stock worth $137,000 after purchasing an additional 5,647 shares during the last quarter. Assetmark Inc. increased its stake in Hibbett Sports by 75.6% during the second quarter. Assetmark Inc. now owns 7,077 shares of the company’s stock worth $148,000 after acquiring an additional 3,047 shares during the last quarter. AXA lifted its stake in shares of Hibbett Sports by 18.1% in the 1st quarter. AXA now owns 13,700 shares of the company’s stock valued at $150,000 after purchasing an additional 2,100 shares during the last quarter. Finally, AdvisorNet Financial Inc purchased a new position in Hibbett Sports during the second quarter worth $161,000.

Hibbett Sports Company Profile (NASDAQ:HIBB)

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. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.

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