Hibbett (NASDAQ:HIBB) Hits New 1-Year High on Analyst Upgrade

Hibbett, Inc. (NASDAQ:HIBB) shares reached a new 52-week high during trading 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 changing hands. The stock had previously closed at $72.49.

A number of other analysts also recently issued reports on HIBB. B. Riley lifted their price objective on shares of Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Monness Crespi & Hardt boosted their price target on shares of Hibbett from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Williams Trading reissued a “hold” rating and issued a $73.00 price target on shares of Hibbett in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Hibbett has a consensus rating of “Hold” and a consensus target price of $69.79.

Hedge Funds Weigh In On Hibbett

Hedge funds have recently modified their holdings of the company. Illinois Municipal Retirement Fund purchased a new position in shares of Hibbett during the third quarter valued at about $371,000. Boston Partners purchased a new position in shares of Hibbett during the third quarter valued at about $2,242,000. Trexquant Investment LP purchased a new position in shares of Hibbett during the third quarter valued at about $1,685,000. Charles Schwab Investment Management Inc. increased its position in shares of Hibbett by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 261,243 shares of the company’s stock valued at $12,412,000 after buying an additional 34,200 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Hibbett by 46.4% during the fourth quarter. SG Americas Securities LLC now owns 8,822 shares of the company’s stock valued at $635,000 after buying an additional 2,796 shares during the period. Hedge funds and other institutional investors own 94.08% of the company’s stock.

Hibbett Stock Up 18.8 %

The firm’s 50-day moving average is $74.40 and its 200-day moving average is $65.63. The company has a market cap of $1.02 billion, a PE ratio of 10.52, a PEG ratio of 1.16 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last announced its quarterly earnings results on Friday, March 15th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.01. The company had revenue of $466.60 million for the quarter, compared to analysts’ expectations of $477.42 million. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. Hibbett’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.91 earnings per share. As a group, equities research analysts anticipate that Hibbett, Inc. will post 8.21 EPS for the current fiscal year.

Hibbett Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 21st were issued 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 (DPR) 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.