Hibbett (NASDAQ:HIBB) Price Target Raised to $87.50

Hibbett (NASDAQ:HIBB) had its price objective raised by stock analysts at Telsey Advisory Group from $74.00 to $87.50 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 1.46% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Monness Crespi & Hardt lifted their price target on shares of Hibbett from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Williams Trading reissued a “hold” rating and set a $73.00 price target on shares of Hibbett in a research report on Monday, March 18th. Finally, B. Riley raised their price objective on shares of Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.79.

Hibbett Price Performance

Shares of NASDAQ HIBB traded up $13.75 during midday trading on Tuesday, reaching $86.24. 2,238,688 shares of the stock were exchanged, compared to its average volume of 267,888. The business has a 50-day simple moving average of $74.11 and a two-hundred day simple moving average of $65.36. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 1.16 and a beta of 1.75. Hibbett has a 12 month low of $34.86 and a 12 month high of $86.70.

Hibbett (NASDAQ:HIBB) last announced its quarterly earnings results on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.01. The company had revenue of $466.60 million for the quarter, compared to analysts’ expectations of $477.42 million. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $2.91 earnings per share. Equities research analysts expect that Hibbett will post 8.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hibbett

A number of hedge funds and other institutional investors have recently made changes to their positions in HIBB. GAMMA Investing LLC acquired a new stake in Hibbett in the 4th quarter valued at $28,000. AJOVista LLC acquired a new stake in Hibbett in the 4th quarter valued at $75,000. Stonegate Investment Group LLC acquired a new stake in Hibbett in the 1st quarter valued at $203,000. Virtu Financial LLC acquired a new stake in Hibbett in the 4th quarter valued at $201,000. Finally, 1492 Capital Management LLC acquired a new stake in Hibbett in the 4th quarter valued at $209,000. 94.08% of the stock is currently owned by institutional investors and hedge funds.

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.