Hibbett (NASDAQ:HIBB) Price Target Increased to $87.50 by Analysts at Telsey Advisory Group

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

Other analysts have also recently issued research reports about the stock. B. Riley increased their price target on shares of Hibbett from $60.00 to $70.00 and gave the stock a neutral rating in a research note on Monday, March 18th. Monness Crespi & Hardt increased their price target on shares of Hibbett from $72.00 to $82.00 and gave the stock a buy rating in a research note on Monday, March 18th. Finally, Williams Trading reiterated a hold rating and set a $73.00 price target on shares of Hibbett in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $69.79.

Hibbett Trading Up 18.8 %

Shares of Hibbett stock opened at $86.15 on Tuesday. The company has a fifty day simple moving average of $74.40 and a 200-day simple moving average of $65.63. Hibbett has a 12-month low of $34.86 and a 12-month high of $86.70. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.16 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last issued its quarterly earnings results on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.01. The firm had revenue of $466.60 million during the quarter, compared to analysts’ expectations of $477.42 million. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. Hibbett’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.91 EPS. On average, analysts forecast that Hibbett will post 8.21 earnings per share for the current fiscal year.

Hibbett Dividend Announcement

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

Hedge Funds Weigh In On Hibbett

A number of large investors have recently made changes to their positions in the stock. Stonegate Investment Group LLC purchased a new position in shares of Hibbett in the 1st quarter valued at about $203,000. Fluent Financial LLC purchased a new position in shares of Hibbett in the 1st quarter valued at about $305,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Hibbett by 9.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,870 shares of the company’s stock valued at $451,000 after purchasing an additional 486 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Hibbett by 3.4% in the 1st quarter. AdvisorNet Financial Inc now owns 17,982 shares of the company’s stock valued at $1,381,000 after purchasing an additional 593 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Hibbett by 70.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 6,935 shares of the company’s stock valued at $533,000 after purchasing an additional 2,862 shares in the last quarter. Hedge funds and other institutional investors own 94.08% of the company’s stock.

About Hibbett

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.