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

Equities researchers at StockNews.com began coverage on shares of Hibbett (NASDAQ:HIBB) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

A number of other research analysts have also recently commented on HIBB. Robert W. Baird reaffirmed a “neutral” rating and set a $87.50 price target (up previously from $80.00) on shares of Hibbett in a research report on Friday, April 26th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Hibbett in a research report on Tuesday, April 23rd. Benchmark reaffirmed a “hold” rating on shares of Hibbett in a research report on Wednesday, April 24th. 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. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $87.50 price objective on shares of Hibbett in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.79.

Hibbett Stock Performance

HIBB stock opened at $87.49 on Wednesday. The stock’s fifty day simple moving average is $87.16 and its two-hundred day simple moving average is $80.39. Hibbett has a 1-year low of $36.77 and a 1-year high of $87.53. The stock has a market cap of $1.05 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.43 and a beta of 1.88.

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

Hedge Funds Weigh In On Hibbett

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Hibbett by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 785,299 shares of the company’s stock worth $56,558,000 after acquiring an additional 10,226 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Hibbett by 8.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 283,714 shares of the company’s stock worth $20,433,000 after acquiring an additional 22,471 shares during the last quarter. American Century Companies Inc. increased its stake in Hibbett by 15.8% in the 2nd quarter. American Century Companies Inc. now owns 275,418 shares of the company’s stock worth $24,019,000 after acquiring an additional 37,609 shares during the last quarter. Allianz Asset Management GmbH increased its stake 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 acquiring an additional 6,695 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Hibbett by 46.2% in the 1st quarter. BNP Paribas Financial Markets now owns 71,115 shares of the company’s stock worth $5,462,000 after acquiring an additional 22,481 shares during the last quarter. 94.08% of the stock is currently 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.