Hibbett (NASDAQ:HIBB) PT Raised to $87.50

Hibbett (NASDAQ:HIBB) had its price objective lifted by B. Riley from $70.00 to $87.50 in a research report sent to investors on Wednesday morning, Benzinga reports. B. Riley currently has a neutral rating on the stock.

A number of other research analysts have also recently weighed in on HIBB. Monness Crespi & Hardt reaffirmed a neutral rating on shares of Hibbett in a research report on Tuesday, April 23rd. Williams Trading reissued a hold rating and issued a $73.00 price target on shares of Hibbett in a report on Monday, March 18th. Benchmark reissued a hold rating on shares of Hibbett in a report on Wednesday. Finally, Telsey Advisory Group boosted their price target on Hibbett from $74.00 to $87.50 and gave the stock a market perform rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $76.79.

Hibbett Stock Performance

Shares of NASDAQ:HIBB opened at $86.15 on Wednesday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.41 and a beta of 1.75. The stock’s 50-day simple moving average is $75.17 and its two-hundred day simple moving average is $66.31. Hibbett has a 52-week low of $34.86 and a 52-week high of $86.70.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings data on Friday, March 15th. The company reported $2.55 earnings per share 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 period in the previous year, the firm earned $2.91 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts forecast that Hibbett will post 8.19 earnings per share for the current fiscal year.

Hibbett Announces Dividend

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

Hedge Funds Weigh In On Hibbett

Several large investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its position in shares of Hibbett by 0.8% during the 4th quarter. SummerHaven Investment Management LLC now owns 19,671 shares of the company’s stock valued at $1,417,000 after purchasing an additional 158 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Hibbett during the 4th quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC boosted its holdings in Hibbett by 9.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,870 shares of the company’s stock valued at $451,000 after acquiring an additional 486 shares during the period. AdvisorNet Financial Inc boosted its holdings in Hibbett by 3.4% during the 1st quarter. AdvisorNet Financial Inc now owns 17,982 shares of the company’s stock valued at $1,381,000 after acquiring an additional 593 shares during the period. Finally, AJOVista LLC purchased a new position in Hibbett during the 4th quarter valued at $75,000. Institutional investors own 94.08% of the company’s stock.

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.