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

Shares of Hibbett, Inc. (NASDAQ:HIBB) have received an average rating of “Reduce” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $76.79.

HIBB has been the subject of several recent analyst reports. Robert W. Baird restated a “neutral” rating and issued a $87.50 target price (up previously from $80.00) on shares of Hibbett in a research report on Friday, April 26th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $87.50 price target on shares of Hibbett in a report on Monday, June 3rd. Benchmark reiterated a “hold” rating on shares of Hibbett in a research report on Wednesday, April 24th. B. Riley increased 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, Williams Trading reaffirmed a “hold” rating and issued a $73.00 price target on shares of Hibbett in a research report on Monday, March 18th.

Institutional Investors Weigh In On Hibbett

A number of large investors have recently added to or reduced their stakes in HIBB. SummerHaven Investment Management LLC grew its position in shares of Hibbett by 0.8% during the 4th quarter. SummerHaven Investment Management LLC now owns 19,671 shares of the company’s stock worth $1,417,000 after purchasing an additional 158 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Hibbett by 1.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,612 shares of the company’s stock valued at $969,000 after buying an additional 171 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Hibbett by 2.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,846 shares of the company’s stock worth $834,000 after buying an additional 276 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Hibbett by 5.5% in the first quarter. Illinois Municipal Retirement Fund now owns 7,853 shares of the company’s stock worth $603,000 after purchasing an additional 408 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Hibbett during the 4th quarter valued at $28,000. Institutional investors own 94.08% of the company’s stock.

Hibbett Price Performance

HIBB opened at $87.21 on Friday. The company’s 50-day moving average price is $86.33 and its 200 day moving average price is $76.71. Hibbett has a fifty-two week low of $34.96 and a fifty-two week high of $87.39. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.77.

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). The company had revenue of $447.20 million for the quarter, compared to the consensus estimate of $452.94 million. Hibbett had a net margin of 5.80% and a return on equity of 24.15%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $2.74 earnings per share. Research analysts anticipate that Hibbett will post 8.19 earnings per share for the current year.

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.