Brokerages Set Hibbett, Inc. (NASDAQ:HIBB) Price Target at $67.86

Hibbett, Inc. (NASDAQ:HIBB) has been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $67.86.

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

Hibbett Stock Performance

Shares of NASDAQ:HIBB opened at $70.07 on Tuesday. Hibbett has a 1 year low of $34.86 and a 1 year high of $83.00. The stock has a 50-day simple moving average of $74.18 and a 200-day simple moving average of $64.75. The stock has a market capitalization of $826.83 million, a P/E ratio of 8.56, a PEG ratio of 1.15 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last released its quarterly earnings data on Friday, March 15th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.01. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The company had revenue of $466.60 million during the quarter, compared to the consensus estimate of $477.42 million. During the same period in the previous year, the firm earned $2.91 earnings per share. Hibbett’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts predict that Hibbett will post 8.21 earnings per share for the current year.

Hibbett Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 21st were given a dividend of $0.25 per share. 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 1.43%. Hibbett’s dividend payout ratio is currently 12.21%.

Institutional Investors Weigh In On Hibbett

A number of hedge funds have recently added to or reduced their stakes in HIBB. GAMMA Investing LLC acquired a new position in Hibbett during the 4th quarter valued at about $28,000. Quarry LP raised its stake in Hibbett by 138.7% during the 1st quarter. Quarry LP now owns 678 shares of the company’s stock valued at $40,000 after acquiring an additional 394 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Hibbett during the 4th quarter worth $47,000. Acadian Asset Management LLC acquired a new position in Hibbett during the 1st quarter worth $50,000. Finally, FMR LLC grew its position in Hibbett by 32.0% in the 3rd quarter. FMR LLC now owns 1,258 shares of the company’s stock valued at $60,000 after buying an additional 305 shares in the last quarter. 94.08% of the stock is currently owned by institutional investors.

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.