Hibbett, Inc. (NASDAQ:HIBB) Given Consensus Recommendation of “Hold” by Brokerages

Hibbett, Inc. (NASDAQ:HIBB) has been assigned an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $67.86.

Several research firms have weighed in on HIBB. Monness Crespi & Hardt raised their price target on Hibbett from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, March 18th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $74.00 price target (down previously from $82.00) on shares of Hibbett in a report on Monday, March 18th. B. Riley raised their price target on Hibbett from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Finally, Williams Trading reaffirmed a “hold” rating and issued a $73.00 price target on shares of Hibbett in a report on Monday, March 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Hibbett by 4.3% during the 3rd quarter. BlackRock Inc. now owns 2,065,251 shares of the company’s stock valued at $102,869,000 after purchasing an additional 84,638 shares during the period. Vanguard Group Inc. raised its holdings in shares of Hibbett by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 892,220 shares of the company’s stock valued at $64,258,000 after acquiring an additional 31,679 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Hibbett by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 785,299 shares of the company’s stock worth $56,558,000 after acquiring an additional 10,226 shares during the period. State Street Corp increased its position in Hibbett by 5.6% during the 2nd quarter. State Street Corp now owns 643,623 shares of the company’s stock valued at $23,357,000 after purchasing an additional 34,019 shares during the period. Finally, Bronte Capital Management Pty Ltd. raised its holdings in Hibbett by 7.5% in the 3rd quarter. Bronte Capital Management Pty Ltd. now owns 607,841 shares of the company’s stock worth $28,879,000 after purchasing an additional 42,381 shares in the last quarter. Institutional investors own 94.08% of the company’s stock.

Hibbett Stock Performance

Shares of HIBB opened at $70.30 on Tuesday. The stock’s 50-day simple moving average is $74.02 and its 200 day simple moving average is $64.51. The stock has a market capitalization of $829.33 million, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 1.16 and a beta of 1.75. Hibbett has a 52-week low of $34.86 and a 52-week high of $83.00.

Hibbett (NASDAQ:HIBB) last issued its quarterly earnings data 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. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The business had revenue of $466.60 million for the quarter, compared to analysts’ expectations of $477.42 million. During the same quarter in the prior year, the firm posted $2.91 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts forecast that Hibbett will post 8.21 earnings per share for the current fiscal year.

Hibbett Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. Hibbett’s dividend payout ratio (DPR) is currently 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.