For Hibbett Sports Inc. [HIBB], BofA Securities sees a rise to $30. What next?

Hibbett Sports Inc. [NASDAQ: HIBB] surged by $0.64 during the normal trading session on Thursday and reaching a high of $30.67 during the day while it closed the day at $30.10. The company report on August 26, 2020 that Hibbett Sports Announces New Field Leadership Team Further Prioritizing Customer Centric Strategic Growth.

Hibbett Sports (NASDAQ:HIBB), a Birmingham based premium footwear and athleisure retailer with nearly 1,100 Hibbett Sports and City Gear stores nationwide, today announced a newly formed field leadership team, resulting from promotions, reassigned geographic territories and new hires, along with new strategic initiatives for better alignment and growth. The new leadership team led by industry veterans Mike Longo, President and CEO, Hibbett and Ben Knighten, SVP Operations, Hibbett, is comprised of seven team members made up of six Regional Vice Presidents (RVPs) and one Vice President of Operations for City Gear stores.

“2020 has been an unpredictable year but our priority is serving our customers in stores and online with a sustainable, omnichannel approach,” said Mike Longo, President and CEO, Hibbett. “I could not be more excited about the future with our new Field Leadership team who will help us further develop our store teams, engage with our customers and grow and adapt in the next chapter of Hibbett and City Gear.” .

Hibbett Sports Inc. stock has also gained 18.97% of its value over the past 7 days. However, HIBB stock has inclined by 55.80% in the 3 months of the year. Over the past six months meanwhile, it has gained 54.20% and gained 7.35% year-on date.

The market cap for HIBB stock reached $493.64 million, with 16.55 million shares outstanding and 16.32 million shares in the current float. Compared to the average trading volume of 433.15K shares, HIBB reached a trading volume of 1153940 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Hibbett Sports Inc. [HIBB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HIBB shares is $29.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HIBB stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Hibbett Sports Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 02, 2020. The new note on the price target was released on May 27, 2020, representing the official price target for Hibbett Sports Inc. stock. On August 26, 2019, analysts decreased their price target for HIBB shares from 20 to 14.

The Average True Range (ATR) for Hibbett Sports Inc. is set at 1.38, with the Price to Sales ratio for HIBB stock in the period of the last 12 months amounting to 0.44. The Price to Book ratio for the last quarter was 1.63, with the Price to Cash per share for the same quarter was set at 6.48.

HIBB stock trade performance evaluation

Hibbett Sports Inc. [HIBB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.97. With this latest performance, HIBB shares gained by 17.26% in over the last four-week period, additionally plugging by 54.20% over the last 6 months – not to mention a rise of 77.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HIBB stock in for the last two-week period is set at 71.64, with the RSI for the last a single of trading hit 75.99, and the three-weeks RSI is set at 68.36 for Hibbett Sports Inc. [HIBB]. The present Moving Average for the last 50 days of trading for this stock 23.83, while it was recorded at 27.71 for the last single week of trading, and 21.35 for the last 200 days.

Hibbett Sports Inc. [HIBB]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Hibbett Sports Inc. [HIBB] shares currently have an operating margin of +4.68 and a Gross Margin at +29.89. Hibbett Sports Inc.’s Net Margin is presently recorded at +2.31.

Return on Total Capital for HIBB is now 11.58, given the latest momentum, and Return on Invested Capital for the company is 6.36. Return on Equity for this stock inclined to 8.22, with Return on Assets sitting at 3.90. When it comes to the capital structure of this company, Hibbett Sports Inc. [HIBB] has a Total Debt to Total Equity ratio set at 77.19. Additionally, HIBB Total Debt to Total Capital is recorded at 43.56, with Total Debt to Total Assets ending up at 30.19. Long-Term Debt to Equity for the company is recorded at 58.48, with the Long-Term Debt to Total Capital now at 33.01.

Reflecting on the efficiency of the workforce at the company, Hibbett Sports Inc. [HIBB] managed to generate an average of $2,681 per employee. Receivables Turnover for the company is 131.97 with a Total Asset Turnover recorded at a value of 1.69.Hibbett Sports Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.60.

Earnings per share (EPS) analysis for Hibbett Sports Inc. [HIBB] stock

With the latest financial reports released by the company, Hibbett Sports Inc. posted -0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HIBB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Hibbett Sports Inc. go to 7.20%.

Hibbett Sports Inc. [HIBB]: Insider Ownership positions

There are presently around $628 million, or 95.00% of HIBB stock, in the hands of institutional investors. The top three institutional holders of HIBB stocks are: BLACKROCK INC. with ownership of 2,790,699, which is approximately 0.834% of the company’s market cap and around 0.90% of the total institutional ownership; FMR LLC, holding 1,815,239 shares of the stock with an approximate value of $54.64 million in HIBB stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $42.2 million in HIBB stock with ownership of nearly -3.657% of the company’s market capitalization.

Positions in Hibbett Sports Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 66 institutional holders increased their position in Hibbett Sports Inc. [NASDAQ:HIBB] by around 2,605,195 shares. Additionally, 98 investors decreased positions by around 3,938,742 shares, while 25 investors held positions by with 14,324,644 shares. The mentioned changes placed institutional holdings at 20,868,581 shares, according to the latest SEC report filing. HIBB stock had 29 new institutional investments in for a total of 1,699,449 shares, while 31 institutional investors sold positions of 1,380,764 shares during the same period.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on skype
Skype
Share on reddit
Reddit

Leave a Comment

Your email address will not be published. Required fields are marked *

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam