Hibbett (NASDAQ:HIBB) Reaches New 1-Year High After Analyst Upgrade

Hibbett, Inc. (NASDAQ:HIBB)’s stock price hit a new 52-week high on Tuesday after Telsey Advisory Group raised their price target on the stock from $74.00 to $87.50. Telsey Advisory Group currently has a market perform rating on the stock. Hibbett traded as high as $86.70 and last traded at $86.12, with a volume of 1400733 shares trading hands. The stock had previously closed at $72.49.

A number of other analysts have also recently issued reports on HIBB. Williams Trading reissued a “hold” rating and set a $73.00 target price on shares of Hibbett in a research note on Monday, March 18th. Monness Crespi & Hardt increased their target price on Hibbett from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, B. Riley increased their target price on Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.79.

Institutional Investors Weigh In On Hibbett

A number of hedge funds and other institutional investors have recently modified their holdings of HIBB. Stonegate Investment Group LLC acquired a new position in Hibbett in the first quarter valued at about $203,000. Fluent Financial LLC acquired a new position in Hibbett in the first quarter valued at about $305,000. Allspring Global Investments Holdings LLC raised its stake in 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 in the last quarter. AdvisorNet Financial Inc raised its stake in 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 in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in 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 in the last quarter. Institutional investors and hedge funds own 94.08% of the company’s stock.

Hibbett Stock Up 19.1 %

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 1.16 and a beta of 1.75. The stock has a 50 day moving average of $74.11 and a 200 day moving average of $65.36.

Hibbett (NASDAQ:HIBB) last released its earnings results on Friday, March 15th. The company reported $2.55 earnings per share (EPS) 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 quarter in the previous year, the business posted $2.91 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts predict that Hibbett, Inc. will post 8.21 EPS for the current fiscal year.

Hibbett Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 21st were given 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 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.