Hibbett, Inc. (NASDAQ:HIBB) Receives Consensus Rating of “Hold” from Brokerages

Hibbett, Inc. (NASDAQ:HIBB) has been assigned a consensus rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $67.86.

HIBB has been the topic of several research reports. Monness Crespi & Hardt upped their price objective on shares of Hibbett from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $74.00 price target (down previously from $82.00) on shares of Hibbett in a research report on Monday, March 18th. Williams Trading reissued a “hold” rating and set a $73.00 price objective on shares of Hibbett in a report on Monday, March 18th. Finally, B. Riley raised their target price on Hibbett from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, March 18th.

Institutional Trading of Hibbett

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in shares of Hibbett by 137.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 269,967 shares of the company’s stock worth $11,800,000 after purchasing an additional 156,334 shares during the period. Chimera Capital Management LLC bought a new stake in Hibbett in the fourth quarter worth about $10,215,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Hibbett by 105.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 255,563 shares of the company’s stock worth $15,073,000 after purchasing an additional 131,023 shares during the period. JPMorgan Chase & Co. lifted its stake in Hibbett by 98.6% in the first quarter. JPMorgan Chase & Co. now owns 226,705 shares of the company’s stock valued at $10,053,000 after purchasing an additional 112,526 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Hibbett by 4.3% during the third quarter. BlackRock Inc. now owns 2,065,251 shares of the company’s stock valued at $102,869,000 after purchasing an additional 84,638 shares during the period. 94.08% of the stock is currently owned by institutional investors.

Hibbett Price Performance

Shares of HIBB opened at $76.81 on Friday. Hibbett has a one year low of $34.86 and a one year high of $83.00. The company has a market cap of $906.36 million, a PE ratio of 9.38, a P/E/G ratio of 1.17 and a beta of 1.77. The stock has a 50-day moving average of $72.82 and a 200-day moving average of $61.88.

Hibbett (NASDAQ:HIBB) last announced its quarterly earnings results on Friday, March 15th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.01. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The business had revenue of $466.60 million for the quarter, compared to analyst estimates of $477.42 million. During the same quarter in the prior year, the company earned $2.91 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts expect that Hibbett will post 8.3 EPS for the current fiscal year.

Hibbett Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Wednesday, March 20th. Hibbett’s dividend payout ratio is presently 12.21%.

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.