Hibbett (NASDAQ:HIBB) Price Target Raised to $87.50 at Telsey Advisory Group

Hibbett (NASDAQ:HIBB) had its target price upped by Telsey Advisory Group from $74.00 to $87.50 in a research report report published on Tuesday, Benzinga reports. They currently have a market perform rating on the stock.

Several other analysts have also recently issued reports on HIBB. Williams Trading reissued a hold rating and set a $73.00 price objective on shares of Hibbett in a research note on Monday, March 18th. Monness Crespi & Hardt boosted their price objective on shares of Hibbett from $72.00 to $82.00 and gave the company a buy rating in a research note on Monday, March 18th. Finally, B. Riley boosted their price objective on shares of Hibbett from $60.00 to $70.00 and gave the company a neutral rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $76.79.

Hibbett Stock Performance

HIBB stock opened at $86.15 on Tuesday. The stock has a market capitalization of $1.02 billion, a P/E ratio of 10.52, a PEG ratio of 1.41 and a beta of 1.75. Hibbett has a one year low of $34.86 and a one year high of $86.70. The company has a 50 day moving average price of $75.17 and a two-hundred day moving average price of $66.19.

Hibbett (NASDAQ:HIBB) last released its earnings results on Friday, March 15th. The company reported $2.55 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 firm had revenue of $466.60 million during the quarter, compared to analysts’ expectations of $477.42 million. During the same period in the previous year, the company earned $2.91 EPS. Hibbett’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts forecast that Hibbett will post 8.19 earnings per share for the current fiscal year.

Hibbett Announces Dividend

The firm also recently declared 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 1.16%. Hibbett’s dividend payout ratio (DPR) is 12.21%.

Institutional Trading of Hibbett

Institutional investors have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund purchased a new stake in Hibbett during the 3rd quarter worth $371,000. Boston Partners purchased a new position in Hibbett in the 3rd quarter valued at about $2,242,000. Trexquant Investment LP purchased a new position in Hibbett in the 3rd quarter valued at about $1,685,000. Charles Schwab Investment Management Inc. boosted its position in Hibbett by 15.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 261,243 shares of the company’s stock valued at $12,412,000 after buying an additional 34,200 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Hibbett by 46.4% in the 4th quarter. SG Americas Securities LLC now owns 8,822 shares of the company’s stock valued at $635,000 after buying an additional 2,796 shares during the last quarter. 94.08% of the stock is owned by hedge funds and other 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.