In the latest trading session, Hibbett Sports (HIBB) closed at $93.51, marking a +1.59% move from the previous day. This move outpaced the S&P 500's daily gain of 0.82%.Heading into today, shares of the sporting goods retailer had gained 23.59% over the past month, outpacing the Retail-Wholesale sector's gain of 0.05% and the S&P 500's gain of 3.89% in that time.Investors will be hoping for strength from HIBB as it approaches its next earnings release. On that day, HIBB is projected to report earnings of $1.24 per share, which would represent a year-over-year decline of 57.97%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $331.2 million, down 25% from the year-ago period.HIBB's full-year Zacks Consensus Estimates are calling for earnings of $8.95 per share and revenue of $1.57 billion. These results would represent year-over-year changes of +46.24% and +10.39%, respectively.Investors might also notice recent changes to analyst estimates for HIBB. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.29% higher. HIBB is currently sporting a Zacks Rank of #1 (Strong Buy).Digging into valuation, HIBB currently has a Forward P/E ratio of 10.28. For comparison, its industry has an average Forward P/E of 16.26, which means HIBB is trading at a discount to the group.Investors should also note that HIBB has a PEG ratio of 0.58 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. HIBB's industry had an average PEG ratio of 1.28 as of yesterday's close.The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 24, putting it in the top 10% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow HIBB in the coming trading sessions, be sure to utilize Zacks.com. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hibbett, Inc. (HIBB): Free Stock Analysis Report To read this article on Zacks.com click here.