Brokerages Set Hibbett, Inc. (NASDAQ:HIBB) Target Price at $67.86

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

HIBB has been the subject of a number of analyst reports. Telsey Advisory Group reiterated a “market perform” rating and set a $74.00 price objective (down from $82.00) on shares of Hibbett in a report on Monday, March 18th. Monness Crespi & Hardt boosted their price target on shares of Hibbett from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Williams Trading restated a “hold” rating and set a $73.00 price target on shares of Hibbett in a report on Monday, March 18th. Finally, B. Riley boosted their price target on shares of Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, March 18th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stonegate Investment Group LLC purchased a new position in Hibbett in the first quarter valued at about $203,000. Fluent Financial LLC bought a new stake in shares of Hibbett in the first quarter valued at approximately $305,000. Allspring Global Investments Holdings LLC raised its position in shares of 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 purchasing an additional 486 shares during the period. AdvisorNet Financial Inc raised its position in shares of 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 purchasing an additional 593 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of Hibbett by 70.3% in the first 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 during the period. 94.08% of the stock is currently owned by hedge funds and other institutional investors.

Hibbett Stock Up 1.9 %

Shares of NASDAQ HIBB opened at $72.49 on Tuesday. Hibbett has a twelve month low of $34.86 and a twelve month high of $83.00. The firm has a fifty day simple moving average of $74.11 and a 200 day simple moving average of $65.36. The company has a market capitalization of $855.38 million, a PE ratio of 8.85, a P/E/G ratio of 1.16 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings results on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.01. The firm had revenue of $466.60 million during 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%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.91 earnings per share. As a group, equities analysts expect that Hibbett will post 8.21 earnings per share for the current fiscal year.

Hibbett Announces Dividend

The business also recently announced 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 1.38%. The ex-dividend date of this dividend was Wednesday, March 20th. Hibbett’s payout ratio is 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.