B. Riley Boosts Hibbett (NASDAQ:HIBB) Price Target to $87.50

Hibbett (NASDAQ:HIBB) had its price objective upped by B. Riley from $70.00 to $87.50 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently issued reports on HIBB. Monness Crespi & Hardt restated a neutral rating on shares of Hibbett in a research note on Tuesday. Benchmark reissued a hold rating on shares of Hibbett in a research report on Wednesday. Telsey Advisory Group raised their price objective on Hibbett from $74.00 to $87.50 and gave the stock a market perform rating in a research note on Tuesday. Finally, Williams Trading reiterated a hold rating and set a $73.00 target price on shares of Hibbett in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $76.79.

Hibbett Stock Up 0.1 %

HIBB stock opened at $86.15 on Wednesday. The stock’s 50 day moving average is $75.17 and its two-hundred day moving average is $66.19. Hibbett has a 52-week low of $34.86 and a 52-week high of $86.70. The company has a market capitalization of $1.02 billion, a PE ratio of 10.52, a P/E/G ratio of 1.41 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.01. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The business had revenue of $466.60 million during the quarter, compared to analyst estimates of $477.42 million. During the same quarter in the previous year, the firm earned $2.91 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hibbett will post 8.19 EPS for the current year.

Hibbett Dividend Announcement

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

Institutional Trading of Hibbett

Several hedge funds have recently bought and sold shares of HIBB. SG Americas Securities LLC acquired a new stake in shares of Hibbett in the third quarter valued at approximately $286,000. Maryland State Retirement & Pension System bought a new position in Hibbett in the 3rd quarter worth approximately $223,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Hibbett by 80.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,699 shares of the company’s stock valued at $176,000 after acquiring an additional 1,654 shares during the period. TD Asset Management Inc bought a new stake in Hibbett during the 3rd quarter valued at $356,000. Finally, Kendall Capital Management acquired a new position in Hibbett during the 3rd quarter worth $200,000. 94.08% of the stock is currently owned by institutional investors.

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.