Hibbett (NASDAQ:HIBB) Price Target Increased to $87.50 by Analysts at B. Riley

Hibbett (NASDAQ:HIBB - Free Report) had its target price upped by B. Riley from $70.00 to $87.50 in a report released on Wednesday morning, Benzinga reports. B. Riley currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. Williams Trading restated a hold rating and issued a $73.00 target price on shares of Hibbett in a research note on Monday, March 18th. Telsey Advisory Group lifted their price objective on shares of Hibbett from $74.00 to $87.50 and gave the stock a market perform rating in a research note on Tuesday. Benchmark reiterated a hold rating on shares of Hibbett in a research note on Wednesday. Finally, Monness Crespi & Hardt reiterated a neutral rating on shares of Hibbett in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $72.29.

Hibbett Stock Performance

HIBB traded up $0.36 during trading on Wednesday, hitting $86.51. The stock had a trading volume of 1,969,284 shares, compared to its average volume of 315,607. The company has a market capitalization of $1.02 billion, a PE ratio of 10.56, a PEG ratio of 1.18 and a beta of 1.75. Hibbett has a twelve month low of $34.86 and a twelve month high of $86.70. The stock has a 50 day simple moving average of $74.69 and a two-hundred day simple moving average of $65.78.

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

Hibbett Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HIBB. SG Americas Securities LLC purchased a new position in shares of Hibbett during the third quarter worth $286,000. Maryland State Retirement & Pension System purchased a new position in Hibbett in the third quarter valued at $223,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hibbett by 80.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,699 shares of the company's stock valued at $176,000 after buying an additional 1,654 shares in the last quarter. TD Asset Management Inc purchased a new position in Hibbett in the third quarter valued at $356,000. Finally, Kendall Capital Management purchased a new position in Hibbett in the third quarter valued at $200,000. Hedge funds and other institutional investors own 94.08% of the company's stock.

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.