Canaccord Genuity Releases a Hold Rating on Hibbett Sports

By Ryan Adsit

In a report released yesterday, Camilo Lyon from Canaccord Genuity reiterated a Hold rating on Hibbett Sports (NASDAQ: HIBB), with a price target of $32. The company’s shares opened today at $29.70, close to its 52-week low of $27.25.

According to TipRanks.com, Lyon is ranked 0 out of 5 stars with an average return of -3.8% and a 42.2% success rate. Lyon covers the Consumer Goods sector, focusing on stocks such as Columbia Sportswear, Sequential Brands, and Deckers Outdoor.

Hibbett Sports has an analyst consensus of Moderate Sell, with a price target consensus of $36.

Based on Hibbett Sports’ latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $247 million and quarterly net profit of $12.06 million. In comparison, last year the company earned revenue of $246 million and had a net profit of $17.41 million.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HIBB in relation to earlier this year. Most recently, in December 2016, Albert Johnson, a Director at HIBB sold 902 shares for a total of $36,441.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.