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

Hibbett, Inc. (NASDAQ:HIBB)’s stock price hit a new 52-week high during mid-day trading on Tuesday after B. Riley raised their price target on the stock from $70.00 to $87.50. B. Riley currently has a neutral 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 research analysts have also weighed in on the company. Monness Crespi & Hardt restated a “neutral” rating on shares of Hibbett in a report on Tuesday. Benchmark restated a “hold” rating on shares of Hibbett in a report on Wednesday. Telsey Advisory Group raised their price objective on Hibbett from $74.00 to $87.50 and gave the company a “market perform” rating in a report on Tuesday. Finally, Williams Trading restated a “hold” rating and issued a $73.00 price objective on shares of Hibbett in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Hibbett presently has a consensus rating of “Hold” and a consensus target price of $72.29.

Institutional Trading of Hibbett

A number of hedge funds and other institutional investors have recently modified their holdings of HIBB. GAMMA Investing LLC acquired a new stake in shares of Hibbett during the 4th quarter worth about $28,000. AJOVista LLC acquired a new position in Hibbett in the 4th quarter valued at about $75,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 in the last quarter. Kendall Capital Management acquired a new position in Hibbett in the 3rd quarter valued at about $200,000. Finally, Virtu Financial LLC acquired a new position in Hibbett in the 4th quarter valued at about $201,000. 94.08% of the stock is owned by institutional investors and hedge funds.

Hibbett Stock Performance

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 1.18 and a beta of 1.75. The firm has a 50-day simple moving average of $74.69 and a two-hundred day simple moving average of $65.78.

Hibbett (NASDAQ:HIBB) last announced its quarterly earnings data on Friday, March 15th. The company reported $2.55 EPS for the quarter, topping 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 business had revenue of $466.60 million during the quarter, compared to the consensus estimate of $477.42 million. During the same period in the previous year, the company 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, equities analysts forecast that Hibbett, Inc. will post 8.21 EPS for the current fiscal year.

Hibbett Announces Dividend

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend 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.