Hibbett (NASDAQ:HIBB) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Hibbett (NASDAQ:HIBB) in a research note issued to investors on Friday. The firm issued a hold rating on the stock.

Other analysts have also recently issued research reports about the stock. Monness Crespi & Hardt reaffirmed a neutral rating on shares of Hibbett in a research report on Tuesday, April 23rd. Telsey Advisory Group restated a market perform rating and set a $87.50 price target on shares of Hibbett in a report on Monday, June 3rd. B. Riley boosted their target price on shares of Hibbett from $70.00 to $87.50 and gave the company a neutral rating in a research report on Wednesday, April 24th. Robert W. Baird reissued a neutral rating and set a $87.50 target price (up from $80.00) on shares of Hibbett in a research note on Friday, April 26th. Finally, Williams Trading reiterated a hold rating and set a $73.00 price objective on shares of Hibbett in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $76.79.

Hibbett Stock Performance

HIBB stock opened at $87.09 on Friday. The company has a market capitalization of $1.04 billion, a P/E ratio of 10.73, a PEG ratio of 1.40 and a beta of 1.77. The company has a fifty day moving average price of $86.63 and a 200-day moving average price of $76.90. Hibbett has a 52-week low of $34.96 and a 52-week high of $87.39.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings data on Wednesday, June 5th. The company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). The company had revenue of $447.20 million during the quarter, compared to analyst estimates of $452.94 million. Hibbett had a net margin of 5.80% and a return on equity of 24.15%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.74 earnings per share. As a group, sell-side analysts forecast that Hibbett will post 8.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new stake in shares of Hibbett during the fourth quarter worth about $28,000. AJOVista LLC bought a new position in Hibbett in the 4th quarter valued at about $75,000. Virtu Financial LLC acquired a new position in Hibbett during the 4th quarter valued at about $201,000. Stonegate Investment Group LLC bought a new stake in Hibbett during the 1st quarter worth approximately $203,000. Finally, 1492 Capital Management LLC purchased a new stake in shares of Hibbett in the fourth quarter worth approximately $209,000. 94.08% of the stock is owned by institutional investors.

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.