Hibbett (NASDAQ:HIBB) Given New $87.50 Price Target at Telsey Advisory Group

Hibbett (NASDAQ:HIBB) had its price target raised by stock analysts at Telsey Advisory Group from $74.00 to $87.50 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s target price indicates a potential upside of 1.14% from the company’s current price.

Several other brokerages also recently weighed in on HIBB. Monness Crespi & Hardt raised their price target on Hibbett from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, March 18th. B. Riley boosted their price target on Hibbett from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Finally, Williams Trading restated a “hold” rating and issued a $73.00 price objective on shares of Hibbett in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $72.29.

Hibbett Trading Up 0.4 %

Shares of Hibbett stock opened at $86.51 on Tuesday. The firm has a market cap of $1.02 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.18 and a beta of 1.75. Hibbett has a 12 month low of $34.86 and a 12 month high of $86.70. The stock’s fifty day moving average price is $74.69 and its 200-day moving average price is $65.78.

Hibbett (NASDAQ:HIBB) last posted its 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 return on equity of 25.72% and a net margin of 5.97%. The company had revenue of $466.60 million for the quarter, compared to analyst estimates of $477.42 million. During the same quarter in the previous year, the firm earned $2.91 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts forecast that Hibbett will post 8.21 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new stake in Hibbett during the 3rd quarter worth approximately $2,861,000. AQR Capital Management LLC boosted its position in Hibbett by 99.1% during the third quarter. AQR Capital Management LLC now owns 101,061 shares of the company’s stock worth $4,801,000 after purchasing an additional 50,313 shares in the last quarter. Boston Partners acquired a new position in shares of Hibbett in the third quarter worth $2,242,000. Bronte Capital Management Pty Ltd. raised its holdings in shares of Hibbett by 7.5% in the third quarter. Bronte Capital Management Pty Ltd. now owns 607,841 shares of the company’s stock worth $28,879,000 after acquiring an additional 42,381 shares during the last quarter. Finally, Scopus Asset Management L.P. acquired a new position in shares of Hibbett in the third quarter worth $1,900,000. Hedge funds and other 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.