Telsey Advisory Group Reiterates Market Perform Rating for Hibbett (NASDAQ:HIBB)

Telsey Advisory Group reissued their market perform rating on shares of Hibbett (NASDAQ:HIBB) in a report published on Friday, Benzinga reports. They currently have a $87.50 price objective on the stock.

Several other research firms also recently commented on HIBB. B. Riley boosted their target price on shares of Hibbett from $70.00 to $87.50 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Benchmark reissued a hold rating on shares of Hibbett in a research report on Wednesday, April 24th. StockNews.com started coverage on shares of Hibbett in a research report on Monday, July 22nd. They issued a hold rating for the company. Robert W. Baird reissued a neutral rating and issued a $87.50 target price (up from $80.00) on shares of Hibbett in a research report on Friday, April 26th. Finally, Monness Crespi & Hardt reissued a neutral rating on shares of Hibbett in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $76.79.

Hibbett Stock Performance

NASDAQ:HIBB opened at $87.49 on Friday. The company has a market capitalization 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. The stock’s 50 day moving average price is $86.98 and its 200 day moving average price is $79.34. Hibbett has a 52 week low of $36.77 and a 52 week high of $87.53.

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

Institutional Trading of Hibbett

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in Hibbett by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 785,299 shares of the company’s stock valued at $56,558,000 after purchasing an additional 10,226 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Hibbett by 8.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 283,714 shares of the company’s stock valued at $20,433,000 after purchasing an additional 22,471 shares during the period. Allianz Asset Management GmbH boosted its holdings in Hibbett by 9.6% in the 4th quarter. Allianz Asset Management GmbH now owns 76,412 shares of the company’s stock valued at $5,503,000 after purchasing an additional 6,695 shares during the period. BNP Paribas Financial Markets boosted its holdings in Hibbett by 46.2% in the 1st quarter. BNP Paribas Financial Markets now owns 71,115 shares of the company’s stock valued at $5,462,000 after purchasing an additional 22,481 shares during the period. Finally, Moran Wealth Management LLC boosted its holdings in Hibbett by 2.0% in the 4th quarter. Moran Wealth Management LLC now owns 61,262 shares of the company’s stock valued at $4,412,000 after purchasing an additional 1,187 shares during the period. 94.08% of the stock is 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.