Hibbett (NASDAQ:HIBB) Coverage Initiated by Analysts at StockNews.com

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

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

Hibbett Trading Up 0.0 %

NASDAQ HIBB opened at $87.49 on Tuesday. Hibbett has a 12 month low of $36.77 and a 12 month high of $87.53. The stock’s 50 day moving average is $87.07 and its 200 day moving average is $79.75. The stock has a market cap of $1.05 billion, a PE ratio of 10.77, a P/E/G ratio of 1.43 and a beta of 1.88.

Hibbett (NASDAQ:HIBB) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $452.94 million. During the same quarter in the prior year, the business posted $2.74 EPS. The company’s revenue was down 1.8% on a year-over-year basis. On average, analysts forecast that Hibbett will post 8 EPS for the current fiscal year.

Hedge Funds Weigh In On Hibbett

Several institutional investors and hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC acquired a new stake in shares of Hibbett during the 2nd quarter worth $615,000. Versor Investments LP acquired a new stake in shares of Hibbett during the 2nd quarter worth approximately $4,402,000. Smith Shellnut Wilson LLC ADV bought a new position in Hibbett in the second quarter valued at approximately $267,000. Louisiana State Employees Retirement System boosted its holdings in shares of Hibbett by 3.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock valued at $523,000 after purchasing an additional 200 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its holdings in shares of Hibbett by 0.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 19,987 shares of the company’s stock worth $1,743,000 after buying an additional 173 shares in the last quarter. 94.08% of the stock is currently owned by institutional investors and hedge funds.

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.