BlackRock Fund Advisors recently announced the acquisition of new stake in Hibbett Inc. (NASDAQ:HIBB). The institutional investor has increased its shareholding in the Consumer Cyclical company by 4.13% to 1.9 million shares with purchase of 75597.0 shares. This fresh investment now brings its stake to 14.97% valued currently at $129.96 million. In addition, Dimensional Fund Advisors LP raised its holdings by 13042.0 to 0.84 million shares. And Macquarie Investment Management B has lifted its position by 0.18% or 928.0 shares – to 0.52 million shares.
With over 0.29 million Hibbett Inc. (HIBB) shares trading Friday and a closing price of $72.77 on the day, the dollar volume was approximately $21.46 million. The shares have shown a positive half year performance of 68.22% and its price on 01/13/23 gained nearly 0.96%. Currently, there are 12.84M common shares owned by the public and among those 11.72M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for HIBB have a consensus price objective of $77.43. The analysts have set the share’s price value over the next 12 months at a high of $82.00 and a low of $75.00. The average price target is 6.02% above its recent price level and an upside to the estimated low will see the stock gain 2.97% over that period. But an upside of 11.26% will see the stock hit the forecast high price target while median target price for the stock is $75.00.
Insiders at the company have transacted a total of 41 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 132,927 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 25,734 shares.
The top 3 mutual fund holders in Hibbett Inc. are iShares Core S&P Small Cap ETF, Delaware Small Cap Core Fund, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 0.95 million shares of the company’s stock, all valued at over $64.63 million. The company sold 712.0 shares recently to bring their total holdings to about 7.44% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.71% of the shares outstanding.
Shares of Hibbett Inc. (NASDAQ: HIBB) opened at $71.13, down -$0.95 from a prior closing price of $72.08. However, the script later moved the day high at 73.80, up 0.96%. The company’s stock has a 5-day price change of 1.34% and 28.43% over the past three months. HIBB shares are trading 6.67% year to date (YTD), with the 12-month market performance up to 11.32% higher. It has a 12-month low price of $39.58 and touched a high of $75.38 over the same period. HIBB has an average intraday trading volume of 297.26K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.63%, 10.57%, and 34.12% respectively.
Institutional ownership of Hibbett Inc. (NASDAQ: HIBB) 12.84M shares outstanding. Mutual fund holders own 5.43%, while other institutional holders and individual stakeholders account for 54.41% and 44.93% respectively.
It has a market capitalization of $917.63M and a beta (3y monthly) value of 1.66. The stock’s trailing 12-month PE ratio is 9.16, while the earnings-per-share (ttm) stands at $7.95. The company has a PEG of 3.52 and a Quick Ratio of 0.20 with the debt-to-equity ratio at 0.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.01% over the week and 4.36% over the month.
Analysts forecast that Hibbett Inc. (HIBB) will achieve an EPS of $2.46 for the current quarter, $2.47 for the next quarter and $10.64 for 2024. The lowest estimate earnings-per-share for the quarter is $2.17 while analysts give the company a high EPS estimate of $2.71. Comparatively, EPS for the current quarter was $1.68 a year ago. Earnings per share for the fiscal year are expected to increase by 121.80%, and 9.76% over the next financial year. EPS should shrink at an annualized rate of 2.60% over the next five years, compared to 32.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Hibbett Inc. (HIBB) as a “Strong Buy” at a consensus score of 1.60. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the HIBB, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on October 25, 2022, with the firm’s price target at $75. Seaport Research Partners coverage for the Hibbett Inc. (HIBB) stock in a research note released on August 26, 2022 offered a Buy rating with a price target of $75. Seaport Research Partners was of a view on July 13, 2022 that the stock is Neutral, while Monness Crespi & Hardt gave the stock Buy rating on February 22, 2022, issuing a price target of $120- $80. Telsey Advisory Group on their part issued Outperform rating on February 18, 2022.