Hibbett (NASDAQ:HIBB) Price Target Raised to $87.50 at Telsey Advisory Group

Hibbett (NASDAQ:HIBB - Free Report) had its target price upped by Telsey Advisory Group from $74.00 to $87.50 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Monness Crespi & Hardt upped their price objective on shares of Hibbett from $72.00 to $82.00 and gave the stock a buy rating in a research report on Monday, March 18th. Williams Trading restated a hold rating and set a $73.00 price objective on shares of Hibbett in a research report on Monday, March 18th. Finally, B. Riley upped their price objective on shares of Hibbett from $60.00 to $70.00 and gave the stock a neutral rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $69.79.

Hibbett Stock Performance

Shares of HIBB traded up $13.66 during trading hours on Tuesday, hitting $86.15. The stock had a trading volume of 4,148,621 shares, compared to its average volume of 294,406. The firm has a 50-day moving average price of $74.40 and a 200 day moving average price of $65.63. Hibbett has a fifty-two week low of $34.86 and a fifty-two week high of $86.70. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.16 and a beta of 1.75.

Hibbett (NASDAQ:HIBB - Get Free Report) last posted its earnings results on Friday, March 15th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.01. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The firm had revenue of $466.60 million during the quarter, compared to analysts' expectations of $477.42 million. During the same period in the previous year, the business posted $2.91 EPS. The business's revenue was up 1.8% compared to the same quarter last year. As a group, analysts predict that Hibbett will post 8.21 EPS for the current fiscal year.

Hibbett Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, March 20th. Hibbett's payout ratio is 12.21%.

Institutional Investors Weigh In On Hibbett

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of Hibbett in the fourth quarter valued at about $28,000. AJOVista LLC purchased a new stake in shares of Hibbett in the fourth quarter valued at about $75,000. Stonegate Investment Group LLC purchased a new stake in shares of Hibbett in the first quarter valued at about $203,000. Virtu Financial LLC purchased a new stake in shares of Hibbett in the fourth quarter valued at about $201,000. Finally, 1492 Capital Management LLC purchased a new stake in shares of Hibbett in the fourth quarter valued at about $209,000. Hedge funds and other institutional investors 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.