Hibbett (NASDAQ:HIBB) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Hibbett (NASDAQ:HIBB) in a report released on Wednesday morning. The firm issued a hold rating on the stock.

A number of other research analysts also recently weighed in on the stock. Benchmark reissued a hold rating on shares of Hibbett in a research report on Wednesday, April 24th. B. Riley increased their target price on shares of Hibbett from $70.00 to $87.50 and gave the company a neutral rating in a research report on Wednesday, April 24th. Robert W. Baird reissued a neutral rating and set a $87.50 target price (up from $80.00) on shares of Hibbett in a research report on Friday, April 26th. Monness Crespi & Hardt reissued a neutral rating on shares of Hibbett in a research report on Tuesday, April 23rd. Finally, Williams Trading reissued a hold rating and set a $73.00 target price on shares of Hibbett in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $76.79.

Hibbett Stock Performance

NASDAQ:HIBB opened at $87.07 on Wednesday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 1.52 and a beta of 1.77. Hibbett has a 52 week low of $34.96 and a 52 week high of $87.39. The firm has a 50-day moving average price of $83.16 and a two-hundred day moving average price of $75.03.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings data on Wednesday, June 5th. The company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.01). The firm had revenue of $447.20 million during the quarter, compared to analysts’ expectations of $452.94 million. Hibbett had a net margin of 5.80% and a return on equity of 24.15%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $2.74 EPS. As a group, sell-side analysts forecast that Hibbett will post 8.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HIBB. Barclays PLC boosted its holdings in Hibbett by 28.2% in the 3rd quarter. Barclays PLC now owns 11,914 shares of the company’s stock valued at $565,000 after purchasing an additional 2,619 shares during the period. New York State Common Retirement Fund boosted its holdings in Hibbett by 162.8% in the 3rd quarter. New York State Common Retirement Fund now owns 13,928 shares of the company’s stock valued at $662,000 after purchasing an additional 8,628 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 purchasing an additional 34,200 shares during the period. Invesco Ltd. boosted its holdings in Hibbett by 3.0% in the 3rd quarter. Invesco Ltd. now owns 290,808 shares of the company’s stock valued at $13,816,000 after purchasing an additional 8,456 shares during the period. Finally, Algert Global LLC bought a new position in Hibbett in the 3rd quarter valued at $253,000. 94.08% of the stock is owned by institutional investors.

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.