StockNews.com Begins Coverage on Hibbett (NASDAQ:HIBB)

StockNews.com assumed coverage on shares of Hibbett (NASDAQ:HIBB) in a report published on Friday morning. The firm issued a hold rating on the stock.

Other analysts have also issued reports about the stock. Benchmark reiterated a hold rating on shares of Hibbett in a research report on Wednesday, April 24th. Monness Crespi & Hardt reissued a neutral rating on shares of Hibbett in a research report on Tuesday, April 23rd. B. Riley upped their price objective on Hibbett from $70.00 to $87.50 and gave the company a neutral rating in a research report on Wednesday, April 24th. Telsey Advisory Group increased their price objective on Hibbett from $74.00 to $87.50 and gave the company a market perform rating in a research note on Tuesday, April 23rd. Finally, Williams Trading reissued a hold rating and issued a $73.00 target price on shares of Hibbett in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, Hibbett currently has a consensus rating of Hold and an average target price of $76.79.

Hibbett Stock Performance

Shares of HIBB stock opened at $86.65 on Friday. The stock has a fifty day moving average price of $76.30 and a 200 day moving average price of $67.80. The stock has a market cap of $1.02 billion, a PE ratio of 10.58 and a beta of 1.72. Hibbett has a 1 year low of $34.86 and a 1 year high of $86.85.

Hibbett (NASDAQ:HIBB) last announced its quarterly earnings results on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.01. The business had revenue of $466.60 million during the quarter, compared to analysts’ expectations of $477.42 million. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $2.91 earnings per share. As a group, equities research analysts predict that Hibbett will post 8.19 earnings per share for the current year.

Hibbett Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 21st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, March 20th. Hibbett’s dividend payout ratio (DPR) is 12.21%.

Hedge Funds Weigh In On Hibbett

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new stake in Hibbett during the third quarter worth approximately $2,861,000. AQR Capital Management LLC raised its holdings in shares of Hibbett by 99.1% during the third quarter. AQR Capital Management LLC now owns 101,061 shares of the company’s stock valued at $4,801,000 after buying an additional 50,313 shares during the last quarter. Boston Partners bought a new stake in shares of Hibbett during the third quarter valued at approximately $2,242,000. Bronte Capital Management Pty Ltd. raised its holdings in shares of Hibbett by 7.5% during the third quarter. Bronte Capital Management Pty Ltd. now owns 607,841 shares of the company’s stock valued at $28,879,000 after buying an additional 42,381 shares during the last quarter. Finally, Scopus Asset Management L.P. bought a new stake in shares of Hibbett during the third quarter valued at approximately $1,900,000. Institutional investors and hedge funds own 94.08% of the company’s stock.

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.