Canaccord Genuity reiterated their buy rating on shares of Hibbett Sports (NASDAQ:HIBB) in a research note published on Friday morning. The firm currently has a $31.00 target price on the stock.
“We are buyers of HIBB heading into FQ2 results on Friday, August 24 BMO. Our 9c EPS estimate is 2c ahead of consensus as we are modeling slightly higher revenue growth of +15.4% on +6% comp (vs. +14% consensus on +6% comp), higher gross margin of 31.6% (vs. 31.4% consensus) and lower SG&A margin of 27.3% (vs. 27.9% consensus) relative to the Street. We believe our recovery thesis is well on track and Q2 will be reflective of this progress. Our industry checks and discussions with management indicate that the inventory mix continued to improve in Q2, which should translate into a significant upward comp inflection (on an easy -11.7% comparison) and strong gross margin recapture (vs. -400bps).”,” the firm’s analyst commented.
HIBB has been the topic of a number of other research reports. ValuEngine lowered Hibbett Sports from a hold rating to a sell rating in a research note on Saturday, June 16th. BidaskClub upgraded Hibbett Sports from a hold rating to a buy rating in a research note on Friday, May 4th. Bank of America lowered Hibbett Sports from a buy rating to an underperform rating and set a $28.00 target price on the stock. in a research note on Monday, June 18th. Zacks Investment Research lowered Hibbett Sports from a hold rating to a sell rating in a research note on Wednesday, May 30th. Finally, Stifel Nicolaus increased their target price on Hibbett Sports from $22.00 to $26.00 and gave the stock a hold rating in a research note on Thursday, August 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $22.08.
NASDAQ:HIBB opened at $26.95 on Friday. The company has a market capitalization of $459.44 million, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.64 and a beta of 0.79. Hibbett Sports has a 12-month low of $10.38 and a 12-month high of $29.50.
Hibbett Sports (NASDAQ:HIBB) last announced its earnings results on Friday, May 25th. The company reported $1.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.03). The firm had revenue of $274.70 million for the quarter, compared to the consensus estimate of $276.98 million. Hibbett Sports had a return on equity of 10.51% and a net margin of 3.68%. Hibbett Sports’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. equities research analysts forecast that Hibbett Sports will post 1.84 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC acquired a new stake in Hibbett Sports during the second quarter worth approximately $101,000. C M Bidwell & Associates Ltd. grew its position in Hibbett Sports by 61.7% during the first quarter. C M Bidwell & Associates Ltd. now owns 7,630 shares of the company’s stock worth $183,000 after buying an additional 2,910 shares in the last quarter. Lido Advisors LLC acquired a new stake in Hibbett Sports during the first quarter worth approximately $200,000. Element Capital Management LLC acquired a new stake in Hibbett Sports during the first quarter worth approximately $207,000. Finally, Commerce Bank acquired a new stake in Hibbett Sports during the first quarter worth approximately $215,000.
Hibbett Sports Company Profile
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. As of March 28, 2018, it operated approximately 1,000 stores primarily in small and mid-sized communities in the United States.
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