Is Hibbett Sports Inc. (NASDAQ: HIBB) Back In The Buying Zone?


    Fidelity Management & Research Co. recently announced the acquisition of new stake in Hibbett Sports Inc. (NASDAQ:HIBB). The institutional investor has increased its shareholding in the Consumer Cyclical company by 29.80% to 1.64 million shares with purchase of 0.38 million shares. This fresh investment now brings its stake to 9.90% valued currently at $34.28 million. In addition, GMT Capital Corp. raised its holdings by 1.06 million to 1.06 million shares. And Renaissance Technologies LLC has lifted its position by 2.00% or 18800.0 shares – to 0.96 million shares.

    With over 0.16 million Hibbett Sports Inc. (HIBB) shares trading Thursday and a closing price of $23.59 on the day, the dollar volume was approximately $3.71 million. The shares have shown a positive weekly performance of 9.11% and its price on 07/16/20 gained nearly 1.11%. Currently, there are 16.55M common shares owned by the public and among those 16.32M shares have been available to trade.

    Incidentally, analysts’ outlook for the Hibbett Sports Inc. stock is 2.60 for the next 12 months.

    Insiders at the company have transacted a total of 47 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 71,794 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 41,938 shares.

    The top 3 mutual fund holders in Hibbett Sports Inc. are Fidelity Series Intrinsic Opportu, iShares Core S&P Small Cap ETF, and Vanguard Total Stock Market Index. Fidelity Series Intrinsic Opportu owns 1.35 million shares of the company’s stock, all valued at over $28.28 million. The company bought an additional 0.2 million shares recently to bring their total holdings to about 8.17% of the shares outstanding. Vanguard Total Stock Market Index sold 17429.0 shares to bring its total holdings to over 0.56 million shares at a value of $11.69 million. Vanguard Total Stock Market Index now owns shares totaling to 3.38% of the shares outstanding.

    Shares of Hibbett Sports Inc. (NASDAQ: HIBB) opened at $22.92, down -$0.41 from a prior closing price of $23.33. However, the script later closed the day at $23.59, up 1.11%. The company’s stock has a 5-day price change of 9.11% and 104.51% over the past three months. HIBB shares are trading -15.87% year to date (YTD), with the 12-month market performance up to 18.19% higher. It has a 12-month low price of $7.33 and touched a high of $30.98 over the same period. Currently, 0.16 million shares have been traded, compared to an average intraday trading volume of 408.93K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.56%, 20.78%, and 11.97% respectively.

    Institutional ownership of Hibbett Sports Inc. (NASDAQ: HIBB) shares accounts for 95.00% of the company’s 16.55M shares outstanding. Mutual fund holders own 66.04%, while other institutional holders and individual stakeholders account for 72.11% and 2.95% respectively.

    It has a market capitalization of $373.67M and a beta (3y monthly) value of 1.60. The earnings-per-share (ttm) stands at -$0.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.20% over the week and 5.44% over the month.

    Analysts forecast that Hibbett Sports Inc. (HIBB) will achieve an EPS of -$0.34 for the current quarter, $0.22 for the next quarter and $2.13 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.55 while analysts give the company a high EPS estimate of -$0.11. Comparatively, EPS for the current quarter was -$0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 0.90%, and 163.41% over the next financial year. EPS should grow at an annualized rate of 7.20% over the next five years, compared to -11.90% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Hibbett Sports Inc. (HIBB) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the HIBB, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on July 02, 2020, with the firm’s price target at $10-$30. Susquehanna coverage for the Hibbett Sports Inc. (HIBB) stock in a research note released on May 27, 2020 offered a Positive rating with a price target of. Susquehanna was of a view on March 23, 2020 that the stock is Neutral, while BofA/Merrill gave the stock Underperform rating on August 26, 2019, issuing a price target of $20- $14. Susquehanna on their part issued Positive rating on March 25, 2019.


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