B. Riley Boosts Hibbett (NASDAQ:HIBB) Price Target to $87.50

Hibbett (NASDAQ:HIBB) had its price target lifted by research analysts at B. Riley from $70.00 to $87.50 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s price objective would suggest a potential upside of 1.57% from the company’s current price.

HIBB has been the subject of several other research reports. Telsey Advisory Group increased their price objective on shares of Hibbett from $74.00 to $87.50 and gave the company a “market perform” rating in a research report on Tuesday. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Hibbett in a research report on Tuesday. Williams Trading reiterated a “hold” rating and set a $73.00 price objective on shares of Hibbett in a research report on Monday, March 18th. Finally, Benchmark reiterated a “hold” rating on shares of Hibbett in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Hibbett presently has an average rating of “Hold” and an average price target of $72.29.

Hibbett Stock Performance

HIBB opened at $86.15 on Wednesday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.18 and a beta of 1.75. The company has a fifty day moving average of $74.40 and a 200 day moving average of $65.63. Hibbett has a fifty-two week low of $34.86 and a fifty-two week high of $86.70.

Hibbett (NASDAQ:HIBB) last posted its earnings results on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.01. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The company had revenue of $466.60 million during the quarter, compared to analysts’ expectations of $477.42 million. During the same period last year, the company posted $2.91 earnings per share. Hibbett’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Hibbett will post 8.21 earnings per share for the current year.

Institutional Investors Weigh In On Hibbett

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Hibbett during the 3rd quarter valued at about $286,000. Maryland State Retirement & Pension System bought a new stake in Hibbett during the 3rd quarter valued at about $223,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Hibbett by 80.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,699 shares of the company’s stock valued at $176,000 after buying an additional 1,654 shares in the last quarter. TD Asset Management Inc bought a new stake in Hibbett during the 3rd quarter valued at about $356,000. Finally, Kendall Capital Management bought a new stake in Hibbett during the 3rd quarter valued at about $200,000. 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.