Hibbett (NASDAQ:HIBB) Given New $87.50 Price Target at B. Riley

Hibbett (NASDAQ:HIBB) had its price objective increased by B. Riley from $70.00 to $87.50 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on HIBB. Monness Crespi & Hardt reiterated a neutral rating on shares of Hibbett in a research note on Tuesday. Benchmark reiterated a hold rating on shares of Hibbett in a research note on Wednesday. Williams Trading reiterated a hold rating and set a $73.00 price objective on shares of Hibbett in a research note on Monday, March 18th. Finally, Telsey Advisory Group increased their price objective on shares of Hibbett from $74.00 to $87.50 and gave the company a market perform rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $72.29.

Hibbett Price Performance

Shares of HIBB stock opened at $86.51 on Wednesday. The company has a market capitalization of $1.02 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.40 and a beta of 1.75. The company’s 50-day simple moving average is $74.69 and its two-hundred day simple moving average is $65.78. Hibbett has a one year low of $34.86 and a one year high of $86.70.

Hibbett (NASDAQ:HIBB) last issued its earnings results on Friday, March 15th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.01. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The business had revenue of $466.60 million for the quarter, compared to the consensus estimate of $477.42 million. During the same period in the prior year, the firm earned $2.91 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts expect that Hibbett will post 8.26 EPS for the current fiscal year.

Hibbett Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund purchased a new position in shares of Hibbett in the third quarter worth $371,000. Boston Partners purchased a new position in shares of Hibbett in the third quarter worth $2,242,000. Trexquant Investment LP acquired a new stake in shares of Hibbett in the third quarter worth $1,685,000. Charles Schwab Investment Management Inc. increased its stake in shares of Hibbett by 15.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 261,243 shares of the company’s stock worth $12,412,000 after acquiring an additional 34,200 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Hibbett by 46.4% in the fourth quarter. SG Americas Securities LLC now owns 8,822 shares of the company’s stock worth $635,000 after acquiring an additional 2,796 shares during the period. Hedge funds and other institutional investors own 94.08% of the company’s stock.

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.