Hibbett (NASDAQ:HIBB) Receives Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Hibbett (NASDAQ:HIBB) in a research note published on Friday morning, Benzinga reports. The brokerage currently has a $87.50 price target on the stock.

HIBB has been the subject of several other reports. StockNews.com initiated coverage on Hibbett in a research note on Monday, July 22nd. They issued a hold rating for the company. Monness Crespi & Hardt reissued a neutral rating on shares of Hibbett in a research report on Tuesday, April 23rd. B. Riley increased their price objective on Hibbett from $70.00 to $87.50 and gave the company a neutral rating in a report on Wednesday, April 24th. Robert W. Baird reiterated a neutral rating and set a $87.50 price target (up previously from $80.00) on shares of Hibbett in a research note on Friday, April 26th. Finally, Benchmark reaffirmed a hold rating on shares of Hibbett in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $76.79.

Hibbett Stock Performance

Shares of Hibbett stock opened at $87.49 on Friday. The business has a 50-day moving average price of $86.96 and a two-hundred day moving average price of $79.05. Hibbett has a 1-year low of $36.77 and a 1-year high of $87.53. The company has a market cap of $1.05 billion, a P/E ratio of 10.77, a PEG ratio of 1.43 and a beta of 1.88.

Hibbett (NASDAQ:HIBB) last issued its quarterly earnings results on Wednesday, June 5th. The company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.01). Hibbett had a net margin of 5.80% and a return on equity of 24.15%. The business had revenue of $447.20 million during the quarter, compared to analyst estimates of $452.94 million. During the same period last year, the firm posted $2.74 earnings per share. Hibbett’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts forecast that Hibbett will post 8 EPS for the current fiscal year.

Institutional Investors Weigh In On Hibbett

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in shares of Hibbett by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 785,299 shares of the company’s stock worth $56,558,000 after purchasing an additional 10,226 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Hibbett by 8.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 283,714 shares of the company’s stock valued at $20,433,000 after acquiring an additional 22,471 shares during the last quarter. Allianz Asset Management GmbH raised its position in Hibbett by 9.6% in the 4th quarter. Allianz Asset Management GmbH now owns 76,412 shares of the company’s stock worth $5,503,000 after purchasing an additional 6,695 shares during the period. BNP Paribas Financial Markets lifted its stake in Hibbett by 46.2% in the first quarter. BNP Paribas Financial Markets now owns 71,115 shares of the company’s stock worth $5,462,000 after purchasing an additional 22,481 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its position in Hibbett by 2.0% during the fourth quarter. Moran Wealth Management LLC now owns 61,262 shares of the company’s stock valued at $4,412,000 after buying an additional 1,187 shares during the period. 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.