Hibbett (NASDAQ:HIBB) Price Target Raised to $87.50 at B. Riley

Hibbett (NASDAQ:HIBB) had its target price hoisted by analysts at B. Riley from $70.00 to $87.50 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s target price would suggest a potential upside of 1.63% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Benchmark reaffirmed a “hold” rating on shares of Hibbett in a research note on Wednesday. Williams Trading reaffirmed a “hold” rating and set a $73.00 target price on shares of Hibbett in a research note on Monday, March 18th. Telsey Advisory Group lifted their target price on shares of Hibbett from $74.00 to $87.50 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Hibbett in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $72.29.

Hibbett Stock Down 0.5 %

Shares of Hibbett stock opened at $86.10 on Wednesday. The firm has a market cap of $1.02 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.40 and a beta of 1.75. Hibbett has a 12-month low of $34.86 and a 12-month high of $86.70. The company’s fifty day simple moving average is $74.92 and its two-hundred day simple moving average is $65.92.

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, topping analysts’ consensus estimates of $2.54 by $0.01. The business had revenue of $466.60 million for 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 company’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.91 EPS. As a group, sell-side analysts expect that Hibbett will post 8.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SummerHaven Investment Management LLC raised its holdings in Hibbett by 0.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 19,671 shares of the company’s stock worth $1,417,000 after buying an additional 158 shares during the last quarter. GAMMA Investing LLC purchased a new position in Hibbett in the fourth quarter worth about $28,000. Allspring Global Investments Holdings LLC raised its holdings in Hibbett by 9.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,870 shares of the company’s stock worth $451,000 after buying an additional 486 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in Hibbett by 3.4% in the first quarter. AdvisorNet Financial Inc now owns 17,982 shares of the company’s stock worth $1,381,000 after buying an additional 593 shares during the last quarter. Finally, AJOVista LLC purchased a new position in Hibbett in the fourth quarter worth about $75,000. 94.08% of the stock is owned by hedge funds and other institutional investors.

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.