Several other research firms have also recently weighed in on HIBB. Zacks Investment Research upgraded Hibbett Sports from a hold rating to a buy rating and set a $22.00 price objective on the stock in a research report on Monday, July 24th. Credit Suisse Group reiterated an underperform rating and set a $14.00 price objective (down previously from $24.00) on shares of Hibbett Sports in a research report on Tuesday, July 25th. Stifel Nicolaus reiterated a hold rating and set a $17.00 price objective (down previously from $25.00) on shares of Hibbett Sports in a research report on Tuesday, July 25th. Canaccord Genuity lowered their price objective on Hibbett Sports from $22.00 to $14.00 and set a hold rating on the stock in a research report on Tuesday, July 25th. Finally, Robert W. Baird reiterated a neutral rating and set a $15.00 price objective (down previously from $25.00) on shares of Hibbett Sports in a research report on Tuesday, July 25th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Hibbett Sports currently has a consensus rating of Hold and an average target price of $22.89.
Shares of Hibbett Sports (NASDAQ HIBB) opened at $18.60 on Friday. Hibbett Sports has a 12 month low of $9.40 and a 12 month high of $43.40. The firm 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 other Hibbett Sports news, Director Michael J. Newsome acquired 10,000 shares of Hibbett Sports stock in a transaction that occurred on Friday, August 25th. The shares were acquired at an average cost of $12.13 per share, with a total value of $121,300.00. Following the completion of the purchase, the director now directly owns 44,924 shares of the company’s stock, valued at approximately $544,928.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffry O. Rosenthal acquired 2,500 shares of Hibbett Sports stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average cost of $11.95 per share, for a total transaction of $29,875.00. Following the completion of the purchase, the chief executive officer now directly owns 82,703 shares of the company’s stock, valued at $988,300.85. The disclosure for this purchase can be found here. Insiders purchased 25,500 shares of company stock worth $312,595 over the last ninety days. 1.60% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Hibbett Sports by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 4,190 shares of the company’s stock valued at $123,000 after buying an additional 291 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Hibbett Sports in the third quarter valued at about $143,000. Municipal Employees Retirement System of Michigan boosted its stake in Hibbett Sports by 52.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,750 shares of the company’s stock valued at $161,000 after buying an additional 2,650 shares in the last quarter. UBS Group AG boosted its stake in Hibbett Sports by 135.8% in the first quarter. UBS Group AG now owns 6,379 shares of the company’s stock valued at $188,000 after buying an additional 3,674 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in Hibbett Sports in the third quarter valued at about $204,000.
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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