Analysts Set Hibbett Sports, Inc. (NASDAQ:HIBB) Target Price at $101.83

Hibbett Sports, Inc. (NASDAQ:HIBB) has been given a consensus rating of “Buy” by the six research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $101.83.

A number of equities analysts have recently commented on the stock. Bank of America lowered shares of Hibbett Sports from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $120.00 to $88.00 in a report on Thursday, December 2nd. Robert W. Baird raised shares of Hibbett Sports from a “neutral” rating to an “outperform” rating and set a $100.00 target price on the stock in a report on Monday, December 6th. Finally, Zacks Investment Research lowered shares of Hibbett Sports from a “strong-buy” rating to a “hold” rating and set a $83.00 target price on the stock. in a report on Monday, November 1st.

In other news, Director Anthony F. Crudele purchased 1,677 shares of the company’s stock in a transaction on Monday, December 20th. The stock was acquired at an average price of $69.25 per share, with a total value of $116,132.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 2,100 shares of company stock valued at $146,000 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE purchased a new stake in shares of Hibbett Sports in the 2nd quarter worth about $25,000. Dark Forest Capital Management LP purchased a new stake in shares of Hibbett Sports in the 3rd quarter worth about $62,000. Federated Hermes Inc. lifted its position in shares of Hibbett Sports by 731.9% in the 2nd quarter. Federated Hermes Inc. now owns 940 shares of the company’s stock worth $84,000 after purchasing an additional 827 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Hibbett Sports in the 3rd quarter worth about $105,000. Finally, Lazard Asset Management LLC lifted its position in shares of Hibbett Sports by 44.4% in the 2nd quarter. Lazard Asset Management LLC now owns 1,347 shares of the company’s stock worth $120,000 after purchasing an additional 414 shares during the period. 92.62% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:HIBB opened at $61.91 on Wednesday. The company’s fifty day moving average price is $77.51 and its 200-day moving average price is $82.49. The firm has a market capitalization of $847.49 million, a price-to-earnings ratio of 5.66, a PEG ratio of 0.22 and a beta of 1.88. Hibbett Sports has a one year low of $50.32 and a one year high of $101.65.

Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings results on Friday, December 3rd. The company reported $1.68 EPS for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.12. The firm had revenue of $381.70 million for the quarter, compared to analyst estimates of $358.65 million. Hibbett Sports had a net margin of 10.72% and a return on equity of 47.07%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.45 EPS. As a group, research analysts forecast that Hibbett Sports will post 11.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 21st. Investors of record on Thursday, December 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, December 8th. Hibbett Sports’s dividend payout ratio is currently 9.15%.

About Hibbett Sports

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.

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Analyst Recommendations for Hibbett Sports (NASDAQ:HIBB)

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