Hibbett (NASDAQ:HIBB) Price Target Increased to $87.50 by Analysts at Telsey Advisory Group

Hibbett (NASDAQ:HIBB) had its price objective increased by Telsey Advisory Group from $74.00 to $87.50 in a research note released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the stock.

Other analysts have also issued research reports about the stock. B. Riley lifted their price target on shares of Hibbett from $60.00 to $70.00 and gave the stock a neutral rating in a research note on Monday, March 18th. Monness Crespi & Hardt boosted their target price on shares of Hibbett from $72.00 to $82.00 and gave the company a buy rating in a research note on Monday, March 18th. 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, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Hibbett presently has an average rating of Hold and an average price target of $69.79.

Hibbett Trading Up 18.8 %

Shares of NASDAQ:HIBB opened at $86.15 on Tuesday. The company has a fifty day simple moving average of $74.40 and a 200 day simple moving average of $65.63. The firm has a market cap of $1.02 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.16 and a beta of 1.75. Hibbett has a 12-month low of $34.86 and a 12-month high of $86.70.

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. The business had revenue of $466.60 million during the quarter, compared to analyst estimates of $477.42 million. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.91 earnings per share. As a group, equities research analysts forecast that Hibbett will post 8.21 EPS for the current fiscal year.

Hibbett Dividend Announcement

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

Hedge Funds Weigh In On Hibbett

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of Hibbett during the fourth quarter valued at $28,000. AJOVista LLC acquired a new position in shares of Hibbett during the fourth quarter valued at $75,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hibbett by 80.9% during the third 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. Kendall Capital Management acquired a new position in shares of Hibbett during the third quarter valued at $200,000. Finally, Virtu Financial LLC acquired a new stake in Hibbett in the fourth quarter worth about $201,000. Institutional investors and hedge funds own 94.08% of the company’s stock.

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.