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

Hibbett, Inc. (NASDAQ:HIBB) has received a consensus rating of “Reduce” from the seven analysts that are currently covering the firm, 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 12 month price objective among brokers that have issued a report on the stock in the last year is $76.79.

Several research firms have commented on HIBB. Telsey Advisory Group restated a “market perform” rating and issued a $87.50 price target on shares of Hibbett in a report on Friday, July 26th. B. Riley boosted their target price on Hibbett from $70.00 to $87.50 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird reiterated a “neutral” rating and set a $87.50 target price (up previously from $80.00) on shares of Hibbett in a report on Friday, April 26th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Hibbett in a report on Tuesday, April 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Hibbett in a report on Wednesday, April 24th.

Hibbett Trading Up 0.0 %

Shares of HIBB stock opened at $87.49 on Monday. The firm has a 50-day moving average price of $87.31 and a 200 day moving average price of $81.43. Hibbett has a twelve month low of $36.77 and a twelve month high of $87.53. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.43 and a beta of 1.88.

Hibbett (NASDAQ:HIBB) last posted its quarterly 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). The business had revenue of $447.20 million during the quarter, compared to analysts’ expectations of $452.94 million. Hibbett had a net margin of 5.80% and a return on equity of 24.15%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.74 EPS. As a group, research analysts predict that Hibbett will post 8 earnings per share for the current year.

Hedge Funds Weigh In On Hibbett

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SummerHaven Investment Management LLC raised its position in shares of Hibbett by 0.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 19,671 shares of the company’s stock valued at $1,417,000 after purchasing an additional 158 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Hibbett by 1.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,612 shares of the company’s stock valued at $969,000 after acquiring an additional 171 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Hibbett by 3.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock valued at $523,000 after acquiring an additional 200 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Hibbett by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,846 shares of the company’s stock valued at $834,000 after acquiring an additional 276 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in shares of Hibbett by 5.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 7,853 shares of the company’s stock valued at $603,000 after acquiring an additional 408 shares in the last quarter. 94.08% of the stock is owned by institutional investors and hedge funds.

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.