Hibbett (NASDAQ:HIBB) Sees Large Volume Increase

Shares of Hibbett, Inc. (NASDAQ:HIBB) saw an uptick in trading volume on Friday . 174,391 shares traded hands during mid-day trading, a decline of 25% from the previous session’s volume of 233,494 shares.The stock last traded at $71.82 and had previously closed at $71.92.

Wall Street Analyst Weigh In

HIBB has been the subject of a number of recent analyst reports. B. Riley upped their price target on shares of Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Telsey Advisory Group restated a “market perform” rating and set a $74.00 target price (down from $82.00) on shares of Hibbett in a research note on Monday, March 18th. Monness Crespi & Hardt raised their target price on Hibbett from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Williams Trading reissued a “hold” rating and set a $73.00 price target on shares of Hibbett in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $67.86.

Hibbett Stock Performance

The firm has a market cap of $840.87 million, a P/E ratio of 8.70, a P/E/G ratio of 1.17 and a beta of 1.75. The company’s 50 day moving average is $73.94 and its 200 day moving average is $64.18.

Hibbett (NASDAQ:HIBB) last announced its quarterly earnings results on Friday, March 15th. The company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $477.42 million. During the same period in the prior year, the company earned $2.91 EPS. Hibbett’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Hibbett, Inc. will post 8.21 EPS for the current year.

Hibbett Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 21st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, March 20th. Hibbett’s payout ratio is 12.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HIBB. GAMMA Investing LLC acquired a new stake in Hibbett during the 4th quarter worth approximately $28,000. Quarry LP raised its stake in shares of Hibbett by 138.7% during the first quarter. Quarry LP now owns 678 shares of the company’s stock valued at $40,000 after acquiring an additional 394 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of Hibbett during the fourth quarter worth $47,000. Acadian Asset Management LLC bought a new stake in shares of Hibbett in the first quarter worth $50,000. Finally, FMR LLC grew its stake in shares of Hibbett by 32.0% in the third quarter. FMR LLC now owns 1,258 shares of the company’s stock worth $60,000 after purchasing an additional 305 shares during the last quarter. Institutional investors and hedge funds 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.