BMO Capital Reiterates a Hold Rating on Hibbett Sports

By Ryan Adsit

In a report issued on November 18, Wayne Hood from BMO Capital reiterated a Hold rating on Hibbett Sports (NASDAQ: HIBB), with a price target of $40. The company’s shares opened today at $39.55.

According to TipRanks.com, Hood is a 5-star analyst with an average return of 13.5% and a 79.2% success rate. Hood covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Party City Holdco, and Wal-Mart Stores.

Currently, the analyst consensus on Hibbett Sports is Hold and the average price target is $36.25, representing a -8.3% downside.

In a report issued on November 10, Canaccord Genuity also reiterated a Hold rating on the stock with a $40 price target.

Based on Hibbett Sports’ latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $237 million and quarterly net profit of $14.6 million. In comparison, last year the company earned revenue of $228 million and had a net profit of $18.68 million.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. Last month, Michael Newsome, a Director at HIBB sold 10,000 shares for a total of $399,700.

Hibbett Sports, Inc. engages in the ownership and operation of sporting goods stores. It offers footwear, apparel, accessories, and sports and fitness products. The company was founded in 2007 and is headquartered in Birmingham, AL.