Hibbett, Inc. (NASDAQ:HIBB) Given Average Recommendation of “Reduce” by Brokerages

Hibbett, Inc. (NASDAQ:HIBB) has earned a consensus recommendation of “Reduce” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $76.79.

A number of equities analysts have commented on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $87.50 price target on shares of Hibbett in a research report on Monday, June 3rd. Benchmark reaffirmed a “hold” rating on shares of Hibbett in a report on Wednesday, April 24th. Robert W. Baird reissued a “neutral” rating and set a $87.50 price target (up from $80.00) on shares of Hibbett in a research note on Friday, April 26th. B. Riley boosted their price objective on Hibbett from $70.00 to $87.50 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Hibbett in a research report on Tuesday, April 23rd.

Hibbett Price Performance

Shares of HIBB opened at $87.21 on Friday. The company has a 50-day moving average price of $86.33 and a two-hundred day moving average price of $76.71. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 1.40 and a beta of 1.77. Hibbett has a 12 month low of $34.96 and a 12 month high of $87.39.

Hibbett (NASDAQ:HIBB) last posted its earnings results on Wednesday, June 5th. The company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.01). Hibbett had a return on equity of 24.15% and a net margin of 5.80%. The company had revenue of $447.20 million for the quarter, compared to the consensus estimate of $452.94 million. During the same quarter last year, the business earned $2.74 EPS. Hibbett’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts expect that Hibbett will post 8.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Hibbett

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new stake in shares of Hibbett in the 3rd quarter valued at about $2,861,000. AQR Capital Management LLC increased its holdings in shares of Hibbett by 99.1% during the 3rd quarter. AQR Capital Management LLC now owns 101,061 shares of the company’s stock worth $4,801,000 after acquiring an additional 50,313 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Hibbett in the 1st quarter valued at $3,172,000. Scopus Asset Management L.P. bought a new position in Hibbett during the third quarter worth $1,900,000. Finally, Trexquant Investment LP acquired a new position in shares of Hibbett in the third quarter valued at $1,685,000. 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.