Canaccord Genuity cut their target price on shares of Hibbett Sports from $45.00 to $39.00 and set a “hold” rating for the company in a research note on Monday. This rating is an indicator of when a stock might be favorable to enter a position to take advantage of the equity movement in either an upward or downward direction. The rating is based on a simplified scale where 1 indicates a Strong Buy recommendation and 5 represents a Strong Sell, this is the average rating based on the firms polled by Zacks Research. The firm has a 50-day moving average price of $34.01 and a 200 day moving average price of $41.27.
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Hibbett Sports (NASDAQ:HIBB) is scheduled to be releasing its earnings data on Friday, November 20th. The 52-week high of the share price is $55.74 and the 52-week low is $27.58. The company has a market cap of $703.88 million and a PE ratio of 10.43. SunTrust reiterated a “buy” rating and issued a $52.00 price target (down previously from $58.00) on shares of Hibbett Sports in a report on Wednesday, August 12th. During the same quarter in the previous year, the company earned $0.32 earnings per share.
Hibbett expects full-year earnings to be $2.87 to $2.94 per share. Deutsche Bank reaffirmed a hold rating on shares of Hibbett Sports in a report on Wednesday, November 4th. Analysts expected revenues of $233.35 million.
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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. While gross margin during the quarter slipped 20 basis points over the year-ago period, total revenue increased 4.6% and comparable-store sales edged up 0.6%, suggesting that management’s merchandising initiatives are starting to gain traction. There are now 23,828,986 shares in issue with the average daily volume traded being 926,405. As of February 1, 2014, the Company operated 927 stores consisting of 910 Hibbett Sports stores and 17 smaller-format Sports. The Organization ‘s main retail format is Hibbett Sports, an around 5,000 -square-foot shop located primarily in strip centers. The Company sells merchandise of various brands, such as Nike, Under Armour, Reebok, adidas, Easton and The North Face. The Company’s Hibbett Sports stores offer a range of brand name merchandise and its Sports Additions stores offer a range of fashion-based merchandise. Hibbett Team Sales, Inc., a fully owned subsidiary company of the Company, is a provider of customized fit clothing, equipment and footwear mostly to school athletic programs in Alabama and areas of Georgia, Florida and Mississippi.
