Hibbett (NASDAQ:HIBB – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $8.00-$8.30 for the period, compared to the consensus earnings per share estimate of $7.27. The company issued revenue guidance of $1.71 billion-$1.74 billion, compared to the consensus revenue estimate of $1.72 billion.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Williams Trading raised Hibbett from a hold rating to a buy rating in a research report on Friday, August 25th. B. Riley raised their price target on Hibbett from $37.00 to $45.00 and gave the company a neutral rating in a report on Monday, August 28th. Benchmark reiterated a buy rating and issued a $80.00 price target on shares of Hibbett in a research note on Monday, August 28th. StockNews.com assumed coverage on shares of Hibbett in a research note on Thursday, October 5th. They set a hold rating for the company. Finally, Bank of America upped their target price on shares of Hibbett from $35.00 to $40.00 and gave the stock an underperform rating in a research note on Sunday, August 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hibbett currently has an average rating of Hold and an average target price of $58.33.
Hibbett Stock Up 0.3 %
Hibbett (NASDAQ:HIBB – Get Free Report) last issued its earnings results on Friday, August 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.17. Hibbett had a net margin of 6.43% and a return on equity of 29.34%. The company had revenue of $374.90 million for the quarter, compared to analysts’ expectations of $375.96 million. During the same quarter last year, the company posted $1.86 earnings per share. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, equities research analysts anticipate that Hibbett will post 7.31 EPS for the current fiscal year.
Institutional Trading of Hibbett
A number of hedge funds have recently bought and sold shares of the company. Amundi increased its stake in shares of Hibbett by 15.2% in the 4th quarter. Amundi now owns 1,222 shares of the company’s stock worth $87,000 after purchasing an additional 161 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in Hibbett by 4.5% in the first quarter. Mercer Global Advisors Inc. ADV now owns 5,973 shares of the company’s stock worth $352,000 after buying an additional 257 shares in the last quarter. LPL Financial LLC raised its stake in shares of Hibbett by 2.7% in the third quarter. LPL Financial LLC now owns 9,940 shares of the company’s stock worth $472,000 after buying an additional 258 shares during the period. Money Concepts Capital Corp lifted its position in shares of Hibbett by 3.3% during the 4th quarter. Money Concepts Capital Corp now owns 8,460 shares of the company’s stock valued at $577,000 after buying an additional 270 shares in the last quarter. Finally, Credit Suisse AG grew its stake in shares of Hibbett by 1.9% during the 1st quarter. Credit Suisse AG now owns 15,397 shares of the company’s stock valued at $908,000 after acquiring an additional 281 shares during the period. Hedge funds and other institutional investors own 94.08% of the company’s stock.
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.
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