Hibbett (NASDAQ:HIBB) Given New $87.50 Price Target at B. Riley

Hibbett (NASDAQ:HIBB) had its target price increased by B. Riley from $70.00 to $87.50 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

HIBB has been the topic of a number of other research reports. Benchmark reaffirmed a hold rating on shares of Hibbett in a report on Wednesday. Telsey Advisory Group lifted their price target on shares of Hibbett from $74.00 to $87.50 and gave the stock a market perform rating in a report on Tuesday. Williams Trading reaffirmed a hold rating and issued a $73.00 price target on shares of Hibbett in a report on Monday, March 18th. Finally, Monness Crespi & Hardt reaffirmed a neutral rating on shares of Hibbett in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Hibbett has a consensus rating of Hold and a consensus target price of $72.29.

Hibbett Stock Up 0.4 %

Shares of NASDAQ HIBB opened at $86.51 on Wednesday. Hibbett has a twelve month low of $34.86 and a twelve month high of $86.70. The stock’s 50 day moving average price is $74.69 and its 200-day moving average price is $65.78. The company has a market capitalization of $1.02 billion, a PE ratio of 10.56, a PEG ratio of 1.40 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last announced its earnings results on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.01. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The firm had revenue of $466.60 million for the quarter, compared to the consensus estimate of $477.42 million. During the same quarter in the previous year, the business earned $2.91 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts expect that Hibbett will post 8.26 EPS for the current fiscal year.

Hibbett Announces Dividend

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

Institutional Investors Weigh In On Hibbett

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Hibbett in the third quarter worth $286,000. Maryland State Retirement & Pension System purchased a new stake in shares of Hibbett in the third quarter worth $223,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hibbett by 80.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,699 shares of the company’s stock worth $176,000 after buying an additional 1,654 shares in the last quarter. TD Asset Management Inc purchased a new stake in shares of Hibbett in the third quarter worth $356,000. Finally, Kendall Capital Management bought 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.