Hibbett (NASDAQ:HIBB) Receives Market Perform Rating from Telsey Advisory Group

Hibbett (NASDAQ:HIBB)‘s stock had its “market perform” rating reiterated by stock analysts at Telsey Advisory Group in a note issued to investors on Friday, Benzinga reports. They currently have a $87.50 price objective on the stock. Telsey Advisory Group’s price target indicates a potential upside of 0.01% from the company’s previous close.

A number of other research firms have also recently issued reports on HIBB. Robert W. Baird restated a “neutral” rating and set a $87.50 price objective (up from $80.00) on shares of Hibbett in a research report on Friday, April 26th. Benchmark reaffirmed a “hold” rating on shares of Hibbett in a report on Wednesday, April 24th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Hibbett in a report on Tuesday, April 23rd. B. Riley increased their price target on Hibbett from $70.00 to $87.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, StockNews.com assumed coverage on Hibbett in a research report on Monday. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.79.

Hibbett Stock Performance

HIBB opened at $87.49 on Friday. The stock has a fifty day moving average price of $86.93 and a 200 day moving average price of $78.92. Hibbett has a 1 year low of $36.77 and a 1 year high of $87.53. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.40 and a beta of 1.88.

Hibbett (NASDAQ:HIBB) last released its quarterly earnings results 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). Hibbett had a net margin of 5.80% and a return on equity of 24.15%. The business had revenue of $447.20 million for the quarter, compared to the consensus estimate of $452.94 million. During the same quarter in the prior year, the business posted $2.74 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Hibbett will post 8.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hibbett

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

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.