Hibbett (NASDAQ:HIBB) Sets New 12-Month High at $87.51

Shares of Hibbett, Inc. (NASDAQ:HIBB) hit a new 52-week high on Thursday . The company traded as high as $87.51 and last traded at $87.42, with a volume of 175509 shares traded. The stock had previously closed at $87.39.

Analyst Upgrades and Downgrades

HIBB has been the topic of a number of research reports. Telsey Advisory Group restated a “market perform” rating and set a $87.50 price objective on shares of Hibbett in a research report on Monday, June 3rd. B. Riley upped their price target on Hibbett from $70.00 to $87.50 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. StockNews.com initiated coverage on Hibbett in a research report on Sunday. They issued a “hold” rating on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $87.50 price target (up previously from $80.00) on shares of Hibbett in a research report on Friday, April 26th. Finally, Benchmark reissued a “hold” rating on shares of Hibbett in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $76.79.

Hibbett Stock Performance

The business has a 50 day moving average of $86.85 and a two-hundred day moving average of $78.24. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 1.40 and a beta of 1.88.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings results on Wednesday, June 5th. The company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). Hibbett had a return on equity of 24.15% and a net margin of 5.80%. The firm had revenue of $447.20 million for the quarter, compared to analyst estimates of $452.94 million. During the same period last year, the company posted $2.74 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts predict that Hibbett, Inc. will post 8.19 EPS for the current fiscal year.

Institutional Trading of Hibbett

Several institutional investors and hedge funds have recently modified their holdings of the stock. SummerHaven Investment Management LLC raised its stake in shares of Hibbett by 0.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 19,671 shares of the company’s stock worth $1,417,000 after purchasing an additional 158 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Hibbett by 1.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,612 shares of the company’s stock worth $969,000 after purchasing an additional 171 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Hibbett by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,846 shares of the company’s stock valued at $834,000 after acquiring an additional 276 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Hibbett by 5.5% in the first quarter. Illinois Municipal Retirement Fund now owns 7,853 shares of the company’s stock valued at $603,000 after acquiring an additional 408 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Hibbett in the fourth quarter valued at approximately $28,000. 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.