Hibbett (NASDAQ:HIBB) Reaches New 1-Year High After Analyst Upgrade

Hibbett, Inc. (NASDAQ:HIBB) hit a new 52-week high during mid-day 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. The stock had previously closed at $72.49.

HIBB has been the subject of a number of other research reports. B. Riley increased their price objective on shares of Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Williams Trading reaffirmed a “hold” rating and set a $73.00 price objective on shares of Hibbett in a research report on Monday, March 18th. Finally, Monness Crespi & Hardt raised their price target on shares of Hibbett from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.79.

Institutional Investors Weigh In On Hibbett

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new stake in Hibbett during the 4th quarter worth $28,000. AJOVista LLC acquired a new stake in Hibbett during the 4th quarter worth $75,000. Stonegate Investment Group LLC acquired a new stake in Hibbett during the 1st quarter worth $203,000. Virtu Financial LLC acquired a new stake in Hibbett during the 4th quarter worth $201,000. Finally, 1492 Capital Management LLC acquired a new stake in Hibbett during the 4th quarter worth $209,000. 94.08% of the stock is currently owned by institutional investors and hedge funds.

Hibbett Trading Up 19.1 %

The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.75. The company’s 50 day moving average is $74.11 and its 200 day moving average is $65.36.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings data on Friday, March 15th. The company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.01. The company 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%. Hibbett’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.91 earnings per share. 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 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 1.16%. Hibbett’s dividend payout ratio 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.