Hibbett (NASDAQ:HIBB) Price Target Raised to $87.50

Hibbett (NASDAQ:HIBB) had its target price boosted by Telsey Advisory Group from $74.00 to $87.50 in a research report report published on Tuesday morning, Benzinga reports. They currently have a market perform rating on the stock.

HIBB has been the topic of several other reports. Monness Crespi & Hardt boosted their price target on Hibbett from $72.00 to $82.00 and gave the stock a buy rating in a report on Monday, March 18th. B. Riley boosted their price target on Hibbett from $60.00 to $70.00 and gave the stock a neutral rating in a report on Monday, March 18th. Finally, Williams Trading restated a hold rating and set a $73.00 price target on shares of Hibbett in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Hibbett has an average rating of Hold and an average target price of $72.29.

Hibbett Stock Down 0.5 %

Hibbett stock opened at $86.10 on Tuesday. Hibbett has a 12-month low of $34.86 and a 12-month high of $86.70. The business’s 50-day moving average price is $74.92 and its two-hundred day moving average price is $65.92. The stock has a market cap of $1.02 billion, a PE ratio of 10.51, a P/E/G ratio of 1.41 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last released its earnings results on Friday, March 15th. The company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.01. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The firm had revenue of $466.60 million for the quarter, compared to analysts’ expectations of $477.42 million. During the same quarter in the previous year, the business posted $2.91 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts expect that Hibbett will post 8.19 earnings per share for the current year.

Hibbett Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 21st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, March 20th. Hibbett’s dividend payout ratio is currently 12.21%.

Hedge Funds Weigh In On Hibbett

A number of hedge funds and other institutional investors have recently made changes to their positions in HIBB. SummerHaven Investment Management LLC lifted its stake in Hibbett by 0.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 19,671 shares of the company’s stock valued at $1,417,000 after buying an additional 158 shares during the period. GAMMA Investing LLC acquired a new position in Hibbett in the fourth quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC lifted its stake in Hibbett by 9.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,870 shares of the company’s stock valued at $451,000 after buying an additional 486 shares during the period. AdvisorNet Financial Inc lifted its stake in Hibbett by 3.4% in the first quarter. AdvisorNet Financial Inc now owns 17,982 shares of the company’s stock valued at $1,381,000 after buying an additional 593 shares during the period. Finally, AJOVista LLC acquired a new position in Hibbett in the fourth quarter valued at approximately $75,000. 94.08% of the stock is owned by institutional investors and hedge funds.

Hibbett Company Profile

Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories. The company operates Hibbett stores, City Gear stores, and Sports Additions athletic shoe stores.