Hibbett (NASDAQ:HIBB) Sees Strong Trading Volume

Shares of Hibbett, Inc. (NASDAQ:HIBB) saw unusually-high trading volume on Wednesday . Approximately 214,418 shares were traded during trading, a decline of 48% from the previous session’s volume of 411,827 shares.The stock last traded at $87.49 and had previously closed at $87.48.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $87.50 target price on shares of Hibbett in a report on Monday, June 3rd. B. Riley raised their target price on shares of Hibbett from $70.00 to $87.50 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Hibbett in a report on Tuesday, April 23rd. Benchmark reissued a “hold” rating on shares of Hibbett in a report on Wednesday, April 24th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $87.50 target price (up previously from $80.00) on shares of Hibbett in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $76.79.

Hibbett Price Performance

The firm’s 50 day simple moving average is $86.93 and its 200 day simple moving average is $78.92. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.40 and a beta of 1.88.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its stake in shares of Hibbett by 3.4% during the second quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock valued at $523,000 after acquiring an additional 200 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of Hibbett by 0.9% during the second quarter. SummerHaven Investment Management LLC now owns 19,987 shares of the company’s stock valued at $1,743,000 after acquiring an additional 173 shares during the period. Syquant Capital Sas acquired a new position in shares of Hibbett during the second quarter valued at approximately $3,081,000. Caxton Associates LP boosted its holdings in Hibbett by 180.6% during the first quarter. Caxton Associates LP now owns 9,482 shares of the company’s stock worth $728,000 after buying an additional 6,103 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Hibbett by 2.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,846 shares of the company’s stock worth $834,000 after buying an additional 276 shares in the last quarter. Institutional investors and hedge funds 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.