Hibbett (NASDAQ:HIBB – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of $8.00-$8.30 for the period, compared to the consensus EPS estimate of $7.27. The company issued revenue guidance of $1.71 billion-$1.74 billion, compared to the consensus revenue estimate of $1.72 billion.
Analyst Ratings Changes
A number of research analysts recently issued reports on HIBB shares. Williams Trading upgraded shares of Hibbett from a hold rating to a buy rating in a report on Friday, August 25th. Benchmark restated a buy rating and issued a $80.00 price objective on shares of Hibbett in a research report on Monday, August 28th. Telsey Advisory Group reiterated an outperform rating and set a $60.00 target price on shares of Hibbett in a report on Monday, August 28th. Robert W. Baird increased their price target on Hibbett from $50.00 to $56.00 and gave the stock an outperform rating in a report on Friday, August 25th. Finally, StockNews.com initiated coverage on Hibbett in a report on Thursday, October 5th. They set a hold rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $58.33.
Hibbett Stock Performance
Hibbett (NASDAQ:HIBB – Get Free Report) last issued its quarterly earnings results on Friday, August 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.17. The company had revenue of $374.90 million during the quarter, compared to analysts’ expectations of $375.96 million. Hibbett had a net margin of 6.43% and a return on equity of 29.34%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the business earned $1.86 EPS. On average, research analysts predict that Hibbett will post 7.31 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Hibbett
Several hedge funds have recently modified their holdings of HIBB. Quarry LP increased its position in shares of Hibbett by 138.7% during the 1st quarter. Quarry LP now owns 678 shares of the company’s stock worth $40,000 after purchasing an additional 394 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Hibbett during the fourth quarter worth $47,000. Acadian Asset Management LLC bought a new stake in Hibbett during the first quarter worth $50,000. FMR LLC raised its position in Hibbett by 32.0% during the third quarter. FMR LLC now owns 1,258 shares of the company’s stock worth $60,000 after acquiring an additional 305 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in Hibbett by 67.9% in the first quarter. Captrust Financial Advisors now owns 1,691 shares of the company’s stock valued at $75,000 after acquiring an additional 684 shares during the last quarter. 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.
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