Hibbett (NASDAQ:HIBB) Shares Gap Down to $50.70

Hibbett, Inc. (NASDAQ:HIBB – Get Rating)’s share price gapped down prior to trading on Friday . The stock had previously closed at $50.70, but opened at $49.24. Hibbett shares last traded at $47.86, with a volume of 132,994 shares.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Hibbett from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. StockNews.com upgraded shares of Hibbett from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Telsey Advisory Group restated an “outperform” rating and issued a $80.00 target price on shares of Hibbett in a report on Monday, March 6th. Robert W. Baird boosted their target price on shares of Hibbett from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, March 6th. Finally, Benchmark restated a “buy” rating and issued a $80.00 target price on shares of Hibbett in a report on Monday, March 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.80.

Hibbett Price Performance

The firm’s fifty day moving average price is $57.13 and its two-hundred day moving average price is $63.76. The stock has a market cap of $606.01 million, a price-to-earnings ratio of 4.95, a price-to-earnings-growth ratio of 0.42 and a beta of 1.58.

Hibbett (NASDAQ:HIBB – Get Rating) last posted its earnings results on Friday, March 3rd. The company reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.05). Hibbett had a return on equity of 38.15% and a net margin of 7.50%. The business had revenue of $458.30 million during the quarter, compared to analyst estimates of $476.57 million. During the same quarter in the prior year, the company earned $1.25 EPS. The company’s revenue was up 19.6% on a year-over-year basis. On average, equities research analysts anticipate that Hibbett, Inc. will post 9.61 earnings per share for the current year.

Hibbett Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 28th. Investors of record on Thursday, March 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%. Hibbett’s dividend payout ratio is presently 10.42%.

Insider Buying and Selling

In other Hibbett news, Director James A. Hilt sold 8,154 shares of the company’s stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $61.18, for a total value of $498,861.72. Following the completion of the sale, the director now directly owns 2,380 shares of the company’s stock, valued at approximately $145,608.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hibbett news, Director Terrance G. Finley sold 5,605 shares of the company’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $71.65, for a total value of $401,598.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James A. Hilt sold 8,154 shares of the company’s stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $61.18, for a total transaction of $498,861.72. Following the completion of the sale, the director now directly owns 2,380 shares of the company’s stock, valued at $145,608.40. The disclosure for this sale can be found here. Insiders have sold 14,473 shares of company stock worth $943,300 in the last quarter. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Amundi grew its position in shares of Hibbett by 15.2% during the 4th quarter. Amundi now owns 1,222 shares of the company’s stock valued at $87,000 after acquiring an additional 161 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Hibbett by 1.0% in the 4th quarter. SummerHaven Investment Management LLC now owns 16,971 shares of the company’s stock worth $1,158,000 after buying an additional 169 shares during the period. Knights of Columbus Asset Advisors LLC boosted its holdings in Hibbett by 0.8% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 24,802 shares of the company’s stock worth $1,463,000 after buying an additional 189 shares during the period. KBC Group NV boosted its holdings in Hibbett by 24.8% in the 1st quarter. KBC Group NV now owns 1,182 shares of the company’s stock worth $70,000 after buying an additional 235 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its holdings in Hibbett by 0.6% in the 1st quarter. Brandywine Global Investment Management LLC now owns 38,764 shares of the company’s stock worth $2,286,000 after buying an additional 239 shares during the period. 97.94% of the stock is owned by institutional investors.

Hibbett Company Profile

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Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.