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

Hibbett (NASDAQ:HIBB) had its target price increased by B. Riley from $70.00 to $87.50 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. Telsey Advisory Group upped their target price on Hibbett from $74.00 to $87.50 and gave the company a market perform rating in a report on Tuesday. Monness Crespi & Hardt restated a neutral rating on shares of Hibbett in a research note on Tuesday. Williams Trading reiterated a hold rating and set a $73.00 target price on shares of Hibbett in a research note on Monday, March 18th. Finally, Benchmark reissued a hold rating on shares of Hibbett in a report on Wednesday. One 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, Hibbett has a consensus rating of Hold and an average target price of $76.79.

Hibbett Stock Up 0.1 %

Shares of NASDAQ:HIBB opened at $86.15 on Wednesday. The business’s 50 day moving average is $75.17 and its 200 day moving average is $66.19. Hibbett has a 12-month low of $34.86 and a 12-month high of $86.70. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.41 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings data on Friday, March 15th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.01. The firm had revenue of $466.60 million for the quarter, compared to the consensus estimate of $477.42 million. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.91 EPS. As a group, equities research analysts expect that Hibbett will post 8.19 earnings per share for the current year.

Hibbett Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 21st were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. Hibbett’s dividend payout ratio is presently 12.21%.

Institutional Investors Weigh In On Hibbett

Several large investors have recently added to or reduced their stakes in the company. Stonegate Investment Group LLC purchased a new stake in Hibbett during the first quarter valued at about $203,000. Fluent Financial LLC purchased a new stake in shares of Hibbett during the 1st quarter valued at approximately $305,000. Allspring Global Investments Holdings LLC boosted its holdings in Hibbett by 9.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,870 shares of the company’s stock worth $451,000 after buying an additional 486 shares during the period. AdvisorNet Financial Inc grew its stake in Hibbett by 3.4% in the 1st quarter. AdvisorNet Financial Inc now owns 17,982 shares of the company’s stock valued at $1,381,000 after buying an additional 593 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Hibbett by 70.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 6,935 shares of the company’s stock valued at $533,000 after acquiring an additional 2,862 shares during the period. Hedge funds and other 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.