Susquehanna Downgrades Hibbett Sports to Neutral

Brokerage firm Susquehanna Downgrades its rating on Hibbett Sports(HIBB). The shares have been rated Neutral. Previously, the analysts had a Positive rating on the shares. The rating by the stock financial advisor at Susquehanna was issued on Feb 14, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 14, 2017, SunTrust Robinson Humphrey said it Downgrades its rating on Hibbett Sports. The shares have been rated ‘Hold’ by the firm. On Jan 30, 2017, Goldman Sachs said it Upgrades its rating on Hibbett Sports. The shares have been rated ‘Neutral’ by the firm.

Hibbett Sports (HIBB) shares turned negative on Wednesdays trading session with the shares closing down -0.25 points or -0.83% at a volume of 3,18,012. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $30.6. The peak price level was also seen at $30.6 while the days lowest was $29.85. Finally the shares closed at $29.9. The 52-week high of the shares is $45.85 while the 52-week low is $28.55. According to the latest information available, the market cap of the company is $657 M.

Hibbett Sports(HIBB) last announced its earnings results on Nov 18, 2016 for Fiscal Year 2017 and Q3.Company reported revenue of $237.01M. Analysts had an estimated revenue of $236.94M. Earnings per share were $0.66. The reported EPS was above estimates by $0.08 or NaN%. Analysts had estimated an EPS of $0.74.

Several Insider Transactions has been reported to the SEC. On Dec 13, 2016, Alton E Yother (director) sold 5,000 shares at $41.49 per share price.Also, On Dec 8, 2016, Albert C Johnson (director) sold 902 shares at $40.40 per share price.On Oct 14, 2016, Michael J Newsome (director) sold 10,000 shares at $39.97 per share price, according to the Form-4 filing with the securities and exchange commission.

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 operates around 988 retail stores in 31 states consisting of approximately 969 Hibbett Sports stores and around 19 Sports Additions athletic shoe stores. The Company’s primary retail format is Hibbett Sports an approximately 5000-square-foot store 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 wholly owned subsidiary of the Company is a supplier of customized athletic apparel equipment and footwear primarily to school athletic programs in Alabama and parts of Georgia Florida and Mississippi.

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