Hibbett Sports, Inc. (NASDAQ:HIBB) had its price objective boosted by Bank of America Corporation from $10.00 to $12.00 in a research report released on Monday. Bank of America Corporation currently has an underperform rating on the stock.
Several other research firms have also issued reports on HIBB. BMO Capital Markets raised their target price on shares of Hibbett Sports from $10.00 to $17.00 and gave the stock a market perform rating in a report on Friday. Forward View upgraded shares of Hibbett Sports to a hold rating and set a $18.00 target price for the company in a report on Saturday. Canaccord Genuity set a $17.00 target price on shares of Hibbett Sports and gave the stock a hold rating in a report on Monday. Robert W. Baird raised their target price on shares of Hibbett Sports from $10.00 to $16.00 and gave the stock a positive rating in a report on Friday. Finally, BidaskClub lowered shares of Hibbett Sports from a sell rating to a strong sell rating in a report on Thursday, July 27th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Hibbett Sports currently has a consensus rating of Hold and an average price target of $22.89.
Hibbett Sports (NASDAQ HIBB) traded up $2.35 during mid-day trading on Monday, reaching $19.45. 1,914,200 shares of the company’s stock traded hands, compared to its average volume of 672,914. Hibbett Sports has a fifty-two week low of $9.40 and a fifty-two week high of $43.40. The company has a market capitalization of $399.50, a price-to-earnings ratio of 9.88, a P/E/G ratio of 6.16 and a beta of 0.72.
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In related news, insider Scott Justin Bowman bought 3,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was bought at an average cost of $11.84 per share, for a total transaction of $35,520.00. Following the purchase, the insider now directly owns 7,883 shares of the company’s stock, valued at $93,334.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffry O. Rosenthal bought 2,500 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was bought at an average price of $11.95 per share, with a total value of $29,875.00. Following the completion of the purchase, the chief executive officer now directly owns 82,703 shares in the company, valued at $988,300.85. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 25,500 shares of company stock worth $312,595. Insiders own 1.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Hibbett Sports by 94,396.9% in the 1st quarter. BlackRock Inc. now owns 2,945,468 shares of the company’s stock worth $86,891,000 after purchasing an additional 2,942,351 shares in the last quarter. Vanguard Group Inc. lifted its stake in Hibbett Sports by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 2,004,952 shares of the company’s stock valued at $59,147,000 after acquiring an additional 140,569 shares during the period. Dimensional Fund Advisors LP lifted its stake in Hibbett Sports by 63.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,312,080 shares of the company’s stock valued at $27,226,000 after acquiring an additional 511,443 shares during the period. State Street Corp lifted its stake in Hibbett Sports by 10.4% during the 2nd quarter. State Street Corp now owns 791,812 shares of the company’s stock valued at $16,428,000 after acquiring an additional 74,526 shares during the period. Finally, Oak Ridge Investments LLC lifted its stake in Hibbett Sports by 2.5% during the 2nd quarter. Oak Ridge Investments LLC now owns 731,815 shares of the company’s stock valued at $15,185,000 after acquiring an additional 17,899 shares during the period.
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.
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