Hibbett (NASDAQ:HIBB) Earns Hold Rating from Analysts at StockNews.com

Posted by Amy Steele on Mar 19th, 2023

StockNews.com initiated coverage on shares of Hibbett (NASDAQ:HIBB – Get Rating) in a report released on Thursday morning. The brokerage issued a hold rating on the stock.

HIBB has been the subject of several other reports. Robert W. Baird raised their price target on shares of Hibbett from $75.00 to $80.00 and gave the stock an outperform rating in a report on Monday, March 6th. TheStreet upgraded shares of Hibbett from a c+ rating to a b- rating in a report on Tuesday, December 13th. Telsey Advisory Group restated an outperform rating and set a $80.00 price target on shares of Hibbett in a report on Monday, March 6th. Bank of America raised their price target on shares of Hibbett from $75.00 to $85.00 and gave the stock a buy rating in a report on Tuesday, March 7th. Finally, Benchmark reiterated a buy rating and issued a $80.00 target price on shares of Hibbett in a research note on Monday, March 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $78.80.

Hibbett Trading Down 3.1 %

Shares of HIBB traded down $1.97 during midday trading on Thursday, hitting $61.47. The stock had a trading volume of 678,897 shares, compared to its average volume of 348,272. Hibbett has a fifty-two week low of $39.58 and a fifty-two week high of $75.38. The business has a 50-day simple moving average of $68.65 and a two-hundred day simple moving average of $63.92. The firm has a market cap of $782.51 million, a P/E ratio of 6.40, a price-to-earnings-growth ratio of 0.53 and a beta of 1.63.

Hibbett (NASDAQ:HIBB – Get Rating) last announced its earnings results on Friday, March 3rd. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $2.96 by ($0.05). Hibbett had a return on equity of 38.15% and a net margin of 7.50%. The firm had revenue of $458.30 million during the quarter, compared to analyst estimates of $476.57 million. During the same quarter in the previous year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, analysts expect that Hibbett will post 9.62 earnings per share for the current fiscal year.

Hibbett Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Thursday, March 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, March 15th. Hibbett’s dividend payout ratio is 10.42%.

Insider Activity

In other news, Director Terrance G. Finley sold 5,605 shares of Hibbett stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $71.65, for a total value of $401,598.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Hibbett

A number of institutional investors have recently modified their holdings of the company. Natixis bought a new position in shares of Hibbett in the fourth quarter valued at approximately $1,337,000. Macquarie Group Ltd. increased its position in Hibbett by 1.6% during the fourth quarter. Macquarie Group Ltd. now owns 525,106 shares of the company’s stock worth $35,823,000 after acquiring an additional 8,018 shares during the period. Truist Financial Corp bought a new position in Hibbett during the fourth quarter worth $478,000. Coppell Advisory Solutions Corp. bought a new position in Hibbett during the fourth quarter worth $47,000. Finally, Alliancebernstein L.P. increased its position in Hibbett by 12.0% during the fourth quarter. Alliancebernstein L.P. now owns 17,645 shares of the company’s stock worth $1,204,000 after acquiring an additional 1,892 shares during the period. Institutional investors own 97.94% of the company’s stock.

Hibbett Company Profile

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Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.