Hibbett Sports is Downgraded by Susquehanna to ” Neutral”

Hibbett Sports (HIBB) was Downgraded by Susquehanna to ” Neutral”. Earlier the firm had a rating of “Positive ” on the company shares. Susquehanna advised their Clients and Investors in a research report released on Feb 14, 2017.

On the company’s financial health, Hibbett Sports reported $0.66 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Nov 18, 2016. Analyst had a consensus of $0.74. The company had revenue of $237.00 million for the quarter, compared to analysts expectations of $237.17 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.

Several company insiders have filed Insider transactions , on Dec 13, 2016, Alton E Yother (director) sold 5,000 shares at $41.49 per share price. According to the SEC, 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 opened for trading at $32.95 and hit $33.55 on the upside on Friday, eventually ending the session at $33.45, with a gain of 1.52% or 0.5 points. The heightened volatility saw the trading volume jump to 4,64,083 shares. Company has a market cap of $735 M.

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.

Hibbett Sports

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