Why Has B. Riley Given Hibbett Sports (NASDAQ:HIBB) a $34.00 Price Target
In a recent report disseminated on Friday, 18 December, B. Riley analyst has today have commenced coverage coverage for Hibbett Sports (NASDAQ:HIBB) shares with a Neutral rating. The price target has been set to $34.00.
From a total of 16 analysts covering Hibbett Sports (NASDAQ:HIBB) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $57 while the lowest target price is $27. The mean of all analyst targets is $38.69 with a 19.24% above today’s ($31.03) stock price. Hibbett Sports was the topic of 16 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. Canaccord Genuity maintained shares on November 23 with “Hold” rating. BMO Capital Markets maintained shares with “Market Perform” rating and $37 target share price in a report from an August 24. Susquehanna maintained HIBB stock in a recent report from November 12 with “Perform” rating. Piper Jaffray maintained the rating on August 24. Piper Jaffray has a “Neutral” rating and a $41 price target on shares. Finally, Deutsche Bank maintained the stock with “Hold” rating in a report issued on an August 25.
The stock decreased 0.58% or $0.18 during the last trading session, striking $31.03. Approximately 1.21 million shares of stock traded hands or 30.68% up from the average. Hibbett Sports, Inc. (NASDAQ:HIBB) has declined 33.43% since May 15, 2015 and is downtrending. It has underperformed by 29.62% the S&P500.
The overall sentiment of institutions has increased to 1.21 in Q2 2015. Its up 0.29, from 0.92 in 2015Q2. The ratio is positive, as 35 institutions have sold all the shares of Hibbett Sports, Inc. that they owned while 49 funds have taken shares off the table. 25 funds have purchased shares for the first time while 77 added to their positions. These institutions now hold 35.99 million shares or 24.63% more than the 28.88 million shares they owned in 2015Q2.
The Fund Cooper Creek Partners Management Llc currently is holding shares equating to 3.33% of its total portfolio in Hibbett Sports, Inc. representing a total of 94,200 shares. Another fund,Broadview Advisors Llc, is holding a total of 413,925 shares equating to 2.01% of their holdings. Additionally, Euclidean Technologies Management Llc has a 51,666 share stake in Hibbett Sports, Inc. which represents 1.89% of their total portfolio. The Fund, Pacific Global Investment Management Co, based out of California, has also built up a stake in the stock, which represents a total of 1.28% of their total portfolio. Finally Skyline Asset Management Lp, a fund which is based in the state of Illinois reported a total holdings of 472,600 shares.
Hibbett Sports, Inc. operates sporting goods stores in small to mid-sized markets, predominantly in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The company has a market cap of $711.16 million. The Firm operates around 988 retail stores in 31 states consisting of approximately 969 Hibbett Sports stores and around 19 Sports Additions athletic shoe stores. It has 10.46 P/E ratio. The Company’s primary retail format is Hibbett Sports, an approximately 5,000-square-foot store located primarily in strip centers.
According to Zacks Investment Research, “Hibbett Sporting Goods, Inc. is a rapidly-growing operator of full-line sporting goods stores in small to mid-sized markets predominantly in the southeastern United States. Hibbett’s stores offer a broad assortment of quality athletic equipment, footwear and apparel at competitive prices with superior customer service.”