Hibbett (NASDAQ:HIBB) Sees Large Volume Increase After Analyst Upgrade

Shares of Hibbett, Inc. (NASDAQ:HIBB - Get Free Report) saw an uptick in trading volume on Wednesday after B. Riley raised their price target on the stock from $70.00 to $87.50. B. Riley currently has a neutral rating on the stock. 365,591 shares traded hands during trading, an increase of 25% from the previous session's volume of 293,088 shares.The stock last traded at $86.05 and had previously closed at $86.15.

A number of other equities research analysts have also commented on HIBB. Benchmark reaffirmed a "hold" rating on shares of Hibbett in a research note on Wednesday. Monness Crespi & Hardt reaffirmed a "neutral" rating on shares of Hibbett in a research note on Tuesday. Williams Trading reaffirmed a "hold" rating and issued a $73.00 price objective on shares of Hibbett in a research note on Monday, March 18th. Finally, Telsey Advisory Group upped their price objective on shares of Hibbett from $74.00 to $87.50 and gave the company a "market perform" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Hibbett has an average rating of "Hold" and a consensus price target of $72.29.

Institutional Investors Weigh In On Hibbett

Large investors have recently bought and sold shares of the stock. Illinois Municipal Retirement Fund acquired a new stake in Hibbett in the third quarter worth $371,000. Boston Partners acquired a new stake in Hibbett in the third quarter worth $2,242,000. Trexquant Investment LP acquired a new stake in Hibbett in the third quarter worth $1,685,000. Charles Schwab Investment Management Inc. grew its holdings in Hibbett by 15.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 261,243 shares of the company's stock worth $12,412,000 after purchasing an additional 34,200 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Hibbett by 46.4% in the fourth quarter. SG Americas Securities LLC now owns 8,822 shares of the company's stock worth $635,000 after purchasing an additional 2,796 shares during the period. 94.08% of the stock is currently owned by institutional investors and hedge funds.

Hibbett Price Performance

The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.18 and a beta of 1.75. The business's fifty day simple moving average is $74.69 and its 200 day simple moving average is $65.78.

Hibbett (NASDAQ:HIBB - Get Free Report) last released its quarterly earnings data on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $477.42 million. During the same period last year, the firm earned $2.91 earnings per share. The business's quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts expect that Hibbett, Inc. will post 8.21 earnings per share for the current fiscal year.

Hibbett Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 21st were given 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 currently 12.21%.

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.