Zacks reissued their neutral rating on shares of Hibbett Sports (NASDAQ:HIBB) in a research report sent to investors on Friday morning, American Banking News reports. The firm currently has a $59.00 price target on the stock.
Zacks’ analyst wrote, “We remain impressed with Hibbett’s sustained focus on expanding store network and improving store productivity, which are the key revenue drivers for the stock. Moreover, we believe that the strategy of doubling the distribution facility’s size will aid the company to keep its growth momentum in mid-sized and smaller markets, which constitute the company’s primary focus. Moreover, Hibbett’s debt-free balance sheet provides it financial flexibility to drive future growth. However, anticipating competitive risks from DICK’s Sporting’s strategic move of entering smaller and mid-sized markets, we remain skeptical about the stock’s performance. Moreover, we believe that due to lack of new construction activities in smaller markets, Hibbett’s store expansion plans may get delayed. Therefore, we are maintaining our long-term Neutral stance on the stock.”
Zacks has also updated their ratings on a number of other consumer discretionary stocks in the last week. The firm upgraded shares of DSW Inc. from a neutral rating to an outperform rating. The firm now has a $88.80 price target on that stock. Also, Zacks downgraded shares of RadioShack Corp. from a neutral rating to an underperform rating. Their analysts now have a $3.00 price target on that stock. Finally, Zacks upgraded shares of Systemax Inc. from a neutral rating to an outperform rating. Zacks now has a $10.00 price target on that stock.
HIBB has been the subject of a number of other recent research reports. Analysts at Feltl & Co. cut their price target on shares of Hibbett Sports from $60.00 to $57.00 in a research note to investors on Friday, August 30th. They now have a hold rating on the stock. Separately, analysts at Susquehanna cut their price target on shares of Hibbett Sports from $65.00 to $61.00 in a research note to investors on Monday, August 26th. They now have a positive rating on the stock. Finally, analysts at Sterne Agee cut their price target on shares of Hibbett Sports from $65.00 to $64.00 in a research note to investors on Monday, August 26th. They now have a buy rating on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $56.78.
Hibbett Sports (NASDAQ:HIBB) opened at 55.80 on Friday. Hibbett Sports has a 52-week low of $49.78 and a 52-week high of $62.24. The stock has a 50-day moving average of $54.4 and a 200-day moving average of $56.18. The company has a market cap of $1.450 billion and a price-to-earnings ratio of 19.64.
Hibbett Sports (NASDAQ:HIBB) last released its earnings data on Friday, August 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $186.20 million for the quarter, compared to the consensus estimate of $186.32 million. During the same quarter last year, the company posted $0.30 earnings per share. Hibbett Sports’s revenue was up 12.6% compared to the same quarter last year.
Hibbett Sports, Inc is an operator of sporting goods retail stores in small to mid-sized markets predominately in the Southeast, Southwest, Mid-Atlantic and Midwest regions of the United States.
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