An analyst sees good growth prospects for Hibbett Inc. (HIBB)

Hibbett Inc. (NASDAQ: HIBB) stock fell -0.24% on Friday to $45.08 against a previous-day closing price of $45.19. With 0.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.35 million shares. During the session, the Apparel Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $45.37 whereas the lowest price it dropped to was $44.12. The 52-week range on HIBB shows that it touched its highest point at $75.38 and its lowest point at $34.86 during that stretch. It currently has a 1-year price target of $57.62. With its current market cap of 559.89 million, HIBB has annualized dividend of $1.00 while the current yield stands at 2.22%. Beta for the stock currently stands at 1.63.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HIBB was up-trending over the past week, with a rise of 3.73%, but this was up by 5.33% over a month. Three-month performance surged to 16.58% while six-month performance fell -28.94%. The stock lost -22.66% in the past year, while it has lost -33.92% so far this year. A look at the trailing 12-month EPS for HIBB yields 8.44 with Next year EPS estimates of 8.28. For the next quarter, that number is 1.17. This implies an EPS growth rate of -14.00% for this year and 13.91% for next year. EPS is expected to grow by 7.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 40.60%.

Float and Shares Shorts:

At present, 12.65 million HIBB shares are outstanding with a float of 12.06 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.9 million, which was 15.35% higher than short shares on Jul 30, 2023. In addition to Mr. Michael E. Longo as the firm’s Pres, CEO & Non-Independent Director, Mr. Robert J. Volke serves as its Sr. VP of Accounting & Fin. and CFO.

Institutional Ownership:

Through their ownership of 99.79% of HIBB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.41% of HIBB, in contrast to 54.85% held by mutual funds. Shares owned by individuals account for 41.43%. As the largest shareholder in HIBB with 14.94% of the stake, BlackRock Fund Advisors holds 1,903,763 shares worth 1,903,763. A second-largest stockholder of HIBB, The Vanguard Group, Inc., holds 840,266 shares, controlling over 6.59% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in HIBB, holding 783,603 shares or 6.15% stake. With a 7.05% stake in HIBB, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 899,080 shares are owned by the mutual fund manager. The Delaware Small Cap Core Fund, which owns about 3.40% of HIBB stock, is the second-largest Mutual Fund holder. It holds 433,407 shares valued at 20.07 million. Vanguard Total Stock Market ETF holds 2.79% of the stake in HIBB, owning 355,884 shares worth 16.48 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HIBB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HIBB analysts setting a high price target of $80.00 and a low target of $40.00, the average target price over the next 12 months is $57.63. Based on these targets, HIBB could surge 77.46% to reach the target high and fall by -11.27% to reach the target low. Reaching the average price target will result in a growth of 27.84% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Dividends & Yield:

In terms of dividends, HIBB has a current ratio of $1.0, which is $1.0 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and HIBB currently yields $2.22. In the past year, HIBB’s dividend yield has been $2.22. Accordingly, HIBB has a current buyback yield of $5.42. This was $5.42 for the TTM, and it was $12.25 for the past five years.

Summary of Insider Activity:

Insiders traded HIBB stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 705 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 130,550 while 44,469 shares were sold.

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