Hibbett (HIBB) Rallies 21% On Earnings And Sales Beat In Q1
Zacks Investment Research | May 26, 2019 09:55PM ET
Hibbett Sports Inc. (NASDAQ:HIBB) reported solid first-quarter fiscal 2020 results, wherein earnings and sales surpassed the Zacks Consensus Estimate. Both the top and bottom line also improved on a year-over-year basis. While this marked the company’s second consecutive bottom-line beat, the top line outpaced estimates for the third straight quarter.
Moreover, management raised its earnings guidance for fiscal 2020, which fueled investors’ confidence in the stock. As a result, shares of the company increased 20.9% on May 24. In the past three months, this Zacks Rank #3 (Hold) stock has rallied 28.3%, outperforming the Zacks Investment Research
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