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

StockNews.com initiated coverage on shares of Hibbett (NASDAQ:HIBB) in a research note released on Wednesday. The brokerage issued a hold rating on the stock.

A number of other equities research analysts have also recently commented on HIBB. B. Riley raised their target price on Hibbett from $70.00 to $87.50 and gave the company a neutral rating in a research report on Wednesday, April 24th. Robert W. Baird restated a neutral rating and issued a $87.50 price objective (up from $80.00) on shares of Hibbett in a research report on Friday, April 26th. Telsey Advisory Group reiterated a market perform rating and set a $87.50 target price on shares of Hibbett in a research report on Friday, July 26th. Monness Crespi & Hardt reissued a neutral rating on shares of Hibbett in a report on Tuesday, April 23rd. Finally, Benchmark reaffirmed a hold rating on shares of Hibbett in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, Hibbett currently has an average rating of Hold and a consensus target price of $76.79.

Hibbett Stock Performance

Shares of NASDAQ HIBB remained flat at $87.49 during trading on Wednesday. The company has a market cap of $1.05 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.88. The firm’s fifty day moving average price is $87.18 and its 200 day moving average price is $80.64. 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). Hibbett had a return on equity of 24.15% and a net margin of 5.80%. The company had revenue of $447.20 million for the quarter, compared to analyst estimates of $452.94 million. During the same period last year, the business earned $2.74 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. On average, equities analysts forecast that Hibbett will post 8 earnings per share for the current year.

Institutional Investors Weigh In On Hibbett

A number of hedge funds have recently modified their holdings of HIBB. Renaissance Technologies LLC grew its stake in Hibbett by 281.6% during the 2nd quarter. Renaissance Technologies LLC now owns 253,689 shares of the company’s stock valued at $22,124,000 after acquiring an additional 187,200 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Hibbett in the second quarter valued at approximately $30,904,000. WINTON GROUP Ltd acquired a new stake in shares of Hibbett in the second quarter valued at approximately $2,572,000. JBF Capital Inc. increased its holdings in shares of Hibbett by 50.0% in the second quarter. JBF Capital Inc. now owns 15,000 shares of the company’s stock valued at $1,308,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Hibbett during the second quarter worth approximately $2,815,000. 94.08% of the stock is currently owned by institutional investors and hedge funds.

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.