B. Riley Boosts Hibbett (NASDAQ:HIBB) Price Target to $87.50

Hibbett (NASDAQ:HIBB) had its price target hoisted by investment analysts at B. Riley from $70.00 to $87.50 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s price target indicates a potential upside of 1.57% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Telsey Advisory Group lifted their target price on Hibbett from $74.00 to $87.50 and gave the stock a “market perform” rating in a research report on Tuesday. Williams Trading reiterated a “hold” rating and issued a $73.00 target price on shares of Hibbett in a research note on Monday, March 18th. Monness Crespi & Hardt restated a “neutral” rating on shares of Hibbett in a research report on Tuesday. Finally, Benchmark reaffirmed a “hold” rating on shares of Hibbett in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.29.

Hibbett Trading Up 18.8 %

Shares of NASDAQ:HIBB opened at $86.15 on Wednesday. Hibbett has a 1 year low of $34.86 and a 1 year high of $86.70. The business has a fifty day simple moving average of $74.40 and a 200 day simple moving average of $65.63. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.18 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last posted its earnings results on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.01. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The company had revenue of $466.60 million for the quarter, compared to analyst estimates of $477.42 million. During the same period last year, the company earned $2.91 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that Hibbett will post 8.21 EPS for the current year.

Institutional Trading of Hibbett

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund acquired a new position in Hibbett in the third quarter valued at $371,000. Boston Partners bought a new stake in Hibbett in the 3rd quarter worth about $2,242,000. Trexquant Investment LP bought a new stake in Hibbett in the 3rd quarter worth about $1,685,000. Charles Schwab Investment Management Inc. grew its position in shares of Hibbett by 15.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 261,243 shares of the company’s stock valued at $12,412,000 after acquiring an additional 34,200 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Hibbett by 46.4% during the 4th quarter. SG Americas Securities LLC now owns 8,822 shares of the company’s stock valued at $635,000 after buying an additional 2,796 shares in the last quarter. 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.