Hibbett (NASDAQ:HIBB) Rating Lowered to Hold at Williams Trading

Posted by Defense World Staff on May 23rd, 2023

Hibbett (NASDAQ:HIBB – Get Rating) was downgraded by Williams Trading from a “buy” rating to a “hold” rating in a report issued on Sunday, The Fly reports.

Several other research analysts also recently commented on HIBB. Bank of America raised their price target on shares of Hibbett from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Hibbett in a research note on Monday, March 6th. Benchmark reaffirmed a “buy” rating and issued a $80.00 price target on shares of Hibbett in a research note on Monday, March 6th. Jefferies Financial Group started coverage on shares of Hibbett in a research note on Tuesday, March 14th. They issued a “hold” rating and a $69.00 price target on the stock. Finally, StockNews.com raised shares of Hibbett from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Hibbett currently has an average rating of “Moderate Buy” and an average target price of $78.80.

Hibbett Trading Down 3.9 %

Shares of HIBB opened at $45.66 on Friday. Hibbett has a twelve month low of $39.58 and a twelve month high of $75.38. The company has a market cap of $582.17 million, a P/E ratio of 4.76, a P/E/G ratio of 0.40 and a beta of 1.58. The company’s fifty day simple moving average is $56.77 and its 200-day simple moving average is $63.65.

Hibbett (NASDAQ:HIBB – Get Rating) last announced its earnings results on Friday, March 3rd. The company reported $2.91 earnings per share for the quarter, missing the consensus estimate of $2.96 by ($0.05). Hibbett had a net margin of 7.50% and a return on equity of 38.15%. The firm had revenue of $458.30 million during the quarter, compared to analysts’ expectations of $476.57 million. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue was up 19.6% compared to the same quarter last year. Analysts predict that Hibbett will post 9.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James A. Hilt sold 8,154 shares of Hibbett stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $61.18, for a total value of $498,861.72. Following the completion of the sale, the director now directly owns 2,380 shares in the company, valued at approximately $145,608.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director James A. Hilt sold 8,154 shares of Hibbett stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $61.18, for a total value of $498,861.72. Following the completion of the sale, the director now directly owns 2,380 shares in the company, valued at approximately $145,608.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Terrance G. Finley sold 5,605 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $71.65, for a total transaction of $401,598.25. The disclosure for this sale can be found here. Insiders sold 14,473 shares of company stock worth $943,300 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Hibbett

Institutional investors have recently made changes to their positions in the company. Amalgamated Bank increased its holdings in shares of Hibbett by 4.8% during the 3rd quarter. Amalgamated Bank now owns 6,254 shares of the company’s stock valued at $312,000 after purchasing an additional 286 shares in the last quarter. Stonegate Investment Group LLC purchased a new position in shares of Hibbett during the 4th quarter valued at approximately $221,000. M&G Investment Management Ltd. purchased a new position in shares of Hibbett during the 4th quarter valued at approximately $3,201,000. SG Americas Securities LLC purchased a new position in shares of Hibbett during the 4th quarter valued at approximately $2,063,000. Finally, Mach 1 Financial Group LLC purchased a new stake in Hibbett in the 4th quarter worth $590,000. 97.94% of the stock is owned by hedge funds and other institutional investors.

Hibbett Company Profile

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Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.