Robert W. Baird Increases Hibbett Sports, Inc. (HIBB) Price Target to $16.00

Hibbett Sports, Inc. (NASDAQ:HIBB) had its target price lifted by research analysts at Robert W. Baird from $10.00 to $16.00 in a research note issued to investors on Friday. The firm presently has a “positive” rating on the stock. Robert W. Baird’s target price points to a potential downside of 6.43% from the stock’s previous close.

Several other equities analysts have also issued reports on HIBB. Zacks Investment Research raised Hibbett Sports from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Monday, July 24th. Credit Suisse Group reissued an “underperform” rating and issued a $14.00 price target (down from $24.00) on shares of Hibbett Sports in a research note on Tuesday, July 25th. Stifel Nicolaus reissued a “hold” rating and issued a $17.00 price target (down from $25.00) on shares of Hibbett Sports in a research note on Tuesday, July 25th. Canaccord Genuity dropped their price target on Hibbett Sports from $22.00 to $14.00 and set a “hold” rating on the stock in a research note on Tuesday, July 25th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $13.00 price target on shares of Hibbett Sports in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Hibbett Sports presently has an average rating of “Hold” and a consensus price target of $22.22.

Hibbett Sports (HIBB) traded up $2.25 during trading on Friday, hitting $17.10. The company had a trading volume of 3,330,000 shares, compared to its average volume of 517,552. The firm has a market capitalization of $351.23, a price-to-earnings ratio of 9.88, a P/E/G ratio of 6.11 and a beta of 0.72. Hibbett Sports has a one year low of $9.40 and a one year high of $43.40.

Hibbett Sports (NASDAQ:HIBB) last posted its quarterly earnings data on Friday, November 17th. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.15. The company had revenue of $237.80 million for the quarter, compared to analyst estimates of $219.38 million. Hibbett Sports had a return on equity of 13.38% and a net margin of 4.68%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. sell-side analysts anticipate that Hibbett Sports will post 1.28 EPS for the current fiscal year.

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In related news, CEO Jeffry O. Rosenthal purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average price of $11.95 per share, for a total transaction of $29,875.00. Following the completion of the acquisition, the chief executive officer now owns 82,703 shares of the company’s stock, valued at approximately $988,300.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Newsome purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average price of $12.13 per share, with a total value of $121,300.00. Following the acquisition, the director now directly owns 44,924 shares of the company’s stock, valued at approximately $544,928.12. The disclosure for this purchase can be found here. Insiders have purchased 25,500 shares of company stock valued at $312,595 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System grew its holdings in Hibbett Sports by 30.2% during the third quarter. California Public Employees Retirement System now owns 123,591 shares of the company’s stock worth $1,761,000 after buying an additional 28,691 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Hibbett Sports by 51.7% during the third quarter. Janney Montgomery Scott LLC now owns 27,229 shares of the company’s stock worth $388,000 after buying an additional 9,283 shares in the last quarter. KBC Group NV grew its holdings in Hibbett Sports by 72.1% during the third quarter. KBC Group NV now owns 81,889 shares of the company’s stock worth $1,167,000 after buying an additional 34,317 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Hibbett Sports during the third quarter worth $143,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in Hibbett Sports by 39.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 291,411 shares of the company’s stock worth $4,153,000 after buying an additional 82,688 shares in the last quarter.

About Hibbett Sports

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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