Hibbett (NASDAQ:HIBB) Rating Reiterated by Robert W. Baird

Robert W. Baird reissued their neutral rating on shares of Hibbett (NASDAQ:HIBB) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $87.50 price objective on the stock, up from their previous price objective of $80.00.

A number of other analysts have also commented on HIBB. Williams Trading reiterated a hold rating and set a $73.00 price target on shares of Hibbett in a report on Monday, March 18th. Telsey Advisory Group boosted their price target on shares of Hibbett from $74.00 to $87.50 and gave the stock a market perform rating in a report on Tuesday, April 23rd. Benchmark restated a hold rating on shares of Hibbett in a report on Wednesday, April 24th. Monness Crespi & Hardt reiterated a neutral rating on shares of Hibbett in a research note on Tuesday, April 23rd. Finally, B. Riley raised their price target on shares of Hibbett from $70.00 to $87.50 and gave the stock a neutral rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, Hibbett has an average rating of Hold and an average target price of $76.79.

Hibbett Stock Performance

Hibbett stock opened at $85.95 on Friday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 10.49 and a beta of 1.75. Hibbett has a 52-week low of $34.86 and a 52-week high of $86.70. The stock’s 50 day moving average price is $75.42 and its two-hundred day moving average price is $66.72.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings results on Friday, March 15th. The company reported $2.55 earnings per share (EPS) 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 business had revenue of $466.60 million during the quarter, compared to the consensus estimate of $477.42 million. During the same quarter last year, the firm posted $2.91 EPS. Hibbett’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Hibbett will post 8.19 EPS for the current year.

Hibbett Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 21st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, March 20th. Hibbett’s dividend payout ratio (DPR) is 12.21%.

Hedge Funds Weigh In On Hibbett

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Illinois Municipal Retirement Fund bought a new position in Hibbett during the third quarter valued at approximately $371,000. Boston Partners purchased a new position in shares of Hibbett in the 3rd quarter worth $2,242,000. Trexquant Investment LP bought a new stake in shares of Hibbett in the third quarter worth $1,685,000. Charles Schwab Investment Management Inc. increased its position in Hibbett by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 261,243 shares of the company’s stock valued at $12,412,000 after acquiring an additional 34,200 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Hibbett by 46.4% during the fourth quarter. SG Americas Securities LLC now owns 8,822 shares of the company’s stock valued at $635,000 after acquiring an additional 2,796 shares during the last quarter. Institutional investors own 94.08% of the company’s stock.

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.