Hibbett (NASDAQ:HIBB) Sees Unusually-High Trading Volume Following Analyst Upgrade

Hibbett, Inc. (NASDAQ:HIBB) saw an uptick in trading volume on Wednesday after B. Riley raised their price target on the stock from $70.00 to $87.50. B. Riley currently has a neutral rating on the stock. 365,591 shares changed hands during mid-day trading, an increase of 25% from the previous session’s volume of 293,088 shares.The stock last traded at $86.05 and had previously closed at $86.15.

Several other equities research analysts also recently commented on the stock. Monness Crespi & Hardt restated a “neutral” rating on shares of Hibbett in a research report on Tuesday. Benchmark restated a “hold” rating on shares of Hibbett in a research report on Wednesday. Williams Trading restated a “hold” rating and issued a $73.00 price target on shares of Hibbett in a research report on Monday, March 18th. Finally, Telsey Advisory Group upped their price target on shares of Hibbett from $74.00 to $87.50 and gave the company a “market perform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.29.

Institutional Investors Weigh In On Hibbett

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC lifted its position in Hibbett by 0.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 19,671 shares of the company’s stock worth $1,417,000 after buying an additional 158 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Hibbett during the 4th quarter valued at $28,000. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 purchasing an additional 486 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of 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 purchasing an additional 593 shares in the last quarter. Finally, AJOVista LLC bought a new position in shares of Hibbett during the 4th quarter valued at $75,000. Hedge funds and other institutional investors own 94.08% of the company’s stock.

Hibbett Trading Up 0.4 %

The firm has a market cap of $1.02 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.18 and a beta of 1.75. The business’s fifty day moving average price is $74.69 and its two-hundred day moving average price is $65.78.

Hibbett (NASDAQ:HIBB) last released its quarterly earnings results 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. The business had revenue of $466.60 million for the quarter, compared to the consensus estimate of $477.42 million. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. Hibbett’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.91 EPS. Research analysts predict that Hibbett, Inc. will post 8.21 EPS for the current fiscal year.

Hibbett Dividend Announcement

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

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.