Hibbett, Inc. (NASDAQ:HIBB) Receives $76.79 Consensus Target Price from Brokerages

Hibbett, Inc. (NASDAQ:HIBB) has been assigned an average recommendation of “Reduce” from the seven analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $76.79.

HIBB has been the subject of a number of recent analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $87.50 price target on shares of Hibbett in a research note on Monday, June 3rd. StockNews.com began coverage on Hibbett in a report on Friday, June 28th. They issued a “hold” rating on the stock. Robert W. Baird restated a “neutral” rating and set a $87.50 price objective (up previously from $80.00) on shares of Hibbett in a report on Friday, April 26th. Benchmark reiterated a “hold” rating on shares of Hibbett in a research note on Wednesday, April 24th. Finally, Monness Crespi & Hardt reissued a “neutral” rating on shares of Hibbett in a research note on Tuesday, April 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIBB. GAMMA Investing LLC purchased a new stake in shares of Hibbett in the 4th quarter worth approximately $28,000. AJOVista LLC bought a new position in Hibbett in the fourth quarter worth approximately $75,000. Virtu Financial LLC purchased a new stake in Hibbett during the fourth quarter worth $201,000. Stonegate Investment Group LLC purchased a new stake in Hibbett during the first quarter worth $203,000. Finally, 1492 Capital Management LLC bought a new stake in Hibbett during the 4th quarter valued at $209,000. 94.08% of the stock is currently owned by institutional investors.

Hibbett Price Performance

Shares of NASDAQ HIBB opened at $87.18 on Friday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 10.74, a PEG ratio of 1.40 and a beta of 1.88. Hibbett has a 1-year low of $34.96 and a 1-year high of $87.39. The business’s 50 day moving average is $86.65 and its two-hundred day moving average is $77.03.

Hibbett (NASDAQ:HIBB) last released its earnings results on Wednesday, June 5th. The company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.01). The company had revenue of $447.20 million for the quarter, compared to the consensus estimate of $452.94 million. Hibbett had a net margin of 5.80% and a return on equity of 24.15%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.74 EPS. As a group, equities research analysts anticipate that Hibbett will post 8.19 earnings per share for the current fiscal year.

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.