Hibbett, Inc. (NASDAQ:HIBB) Receives Average Recommendation of “Hold” from Analysts

Shares of Hibbett, Inc. (NASDAQ:HIBB) have received an average recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $58.33.

A number of research analysts recently weighed in on HIBB shares. B. Riley raised their price objective on Hibbett from $37.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, August 28th. Bank of America lifted their target price on Hibbett from $35.00 to $40.00 and gave the stock an “underperform” rating in a report on Sunday, August 27th. Benchmark reissued a “buy” rating and issued a $80.00 target price on shares of Hibbett in a report on Monday, August 28th. Williams Trading raised Hibbett from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Finally, Robert W. Baird lifted their target price on Hibbett from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, August 25th.

Hibbett Stock Up 3.7 %

HIBB stock opened at $53.48 on Friday. Hibbett has a twelve month low of $34.86 and a twelve month high of $75.38. The firm has a market cap of $662.62 million, a PE ratio of 6.34, a price-to-earnings-growth ratio of 0.94 and a beta of 1.60. The business has a 50 day moving average of $47.01 and a 200 day moving average of $43.93.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings data on Friday, August 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. Hibbett had a return on equity of 29.34% and a net margin of 6.43%. The company had revenue of $374.90 million during the quarter, compared to analyst estimates of $375.96 million. During the same quarter last year, the company earned $1.86 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, research analysts expect that Hibbett will post 7.31 earnings per share for the current fiscal year.

Hibbett Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Thursday, September 7th were paid a $0.25 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. Hibbett’s dividend payout ratio (DPR) is currently 11.85%.

Hedge Funds Weigh In On Hibbett

A number of institutional investors and hedge funds have recently modified their holdings of HIBB. JPMorgan Chase & Co. boosted its stake in shares of Hibbett by 98.6% in the 1st quarter. JPMorgan Chase & Co. now owns 226,705 shares of the company’s stock worth $10,053,000 after buying an additional 112,526 shares during the last quarter. HighTower Advisors LLC lifted its position in Hibbett by 3.9% during the first quarter. HighTower Advisors LLC now owns 10,427 shares of the company’s stock valued at $462,000 after purchasing an additional 395 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Hibbett during the first quarter valued at $50,000. MetLife Investment Management LLC lifted its position in Hibbett by 15.6% during the first quarter. MetLife Investment Management LLC now owns 6,500 shares of the company’s stock valued at $288,000 after purchasing an additional 876 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Hibbett by 153.0% during the first quarter. Sei Investments Co. now owns 13,514 shares of the company’s stock valued at $599,000 after purchasing an additional 8,172 shares in the last quarter. 94.08% of the stock is currently owned by hedge funds and other institutional investors.

About Hibbett

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.