Zacks Investment Research Downgrades Big 5 Sporting Goods Corporation (BGFV) to Strong Sell
Big 5 Sporting Goods Corporation (NASDAQ:BGFV) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Friday.
According to Zacks, “Big 5 Sporting underperformed the industry in the last three months due to a dismal sales surprise trend. The company missed sales estimates for the second straight quarter in third-quarter 2017. Sales were hurt by negative comps, a tough and promotional retail backdrop, and weakness in firearm related business. Further, cycling of benefits from the closure of rival stores in third-quarter 2016 impacted the top line. Moreover, comps have been soft so far in the fourth quarter due to a slow start to fall-related product sales and low demand for firearm related products. Persistence of these factors, alongside a tough and highly promotional holiday season, is likely to weigh on the company’s fourth-quarter comps and profits. However, it anticipates to retain market share gains from last year. Further, its inventory position is apt for the winter and holiday seasons. Also, Big 5 Sporting's shareholder-friendly moves are noteworthy.”
A number of other brokerages also recently commented on BGFV. Forward View restated a “hold” rating and set a $11.00 price objective on shares of Big 5 Sporting Goods Corporation in a research note on Tuesday, August 8th. BidaskClub downgraded Big 5 Sporting Goods Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. ValuEngine downgraded Big 5 Sporting Goods Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. TheStreet downgraded Big 5 Sporting Goods Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG downgraded Big 5 Sporting Goods Corporation from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $20.00 to $10.00 in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.00.
Big 5 Sporting Goods Corporation (NASDAQ:BGFV) traded down $0.30 during mid-day trading on Friday, hitting $6.55. The company had a trading volume of 1,704,058 shares, compared to its average volume of 944,561. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.17 and a current ratio of 2.07. The firm has a market cap of $140.35, a price-to-earnings ratio of 6.68, a P/E/G ratio of 0.76 and a beta of -0.24. Big 5 Sporting Goods Corporation has a twelve month low of $6.25 and a twelve month high of $20.35.
Big 5 Sporting Goods Corporation (NASDAQ:BGFV) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The business had revenue of $270.47 million for the quarter, compared to analyst estimates of $272.27 million. Big 5 Sporting Goods Corporation had a return on equity of 10.37% and a net margin of 2.11%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. equities research analysts forecast that Big 5 Sporting Goods Corporation will post 0.9 earnings per share for the current fiscal year.
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In other Big 5 Sporting Goods Corporation news, Director Van B. Honeycutt purchased 48,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $7.71 per share, with a total value of $370,080.00. Following the completion of the purchase, the director now owns 18,600 shares in the company, valued at approximately $143,406. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 7.90% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its stake in shares of Big 5 Sporting Goods Corporation by 45.4% in the second quarter. BNP Paribas Arbitrage SA now owns 7,954 shares of the company’s stock worth $104,000 after purchasing an additional 2,482 shares in the last quarter. Alliancebernstein L.P. bought a new position in shares of Big 5 Sporting Goods Corporation in the second quarter worth $133,000. Fox Run Management L.L.C. bought a new position in shares of Big 5 Sporting Goods Corporation in the second quarter worth $147,000. Atria Investments LLC bought a new position in shares of Big 5 Sporting Goods Corporation in the second quarter worth $164,000. Finally, Texas Permanent School Fund grew its stake in shares of Big 5 Sporting Goods Corporation by 1.4% in the second quarter. Texas Permanent School Fund now owns 13,102 shares of the company’s stock worth $171,000 after purchasing an additional 185 shares in the last quarter.
Big 5 Sporting Goods Corporation Company Profile
Big 5 Sporting Goods Corporation is a sporting goods retailer in the western United States. The Company offers a range of products in a sporting goods store format. The Company also offers products online through its e-commerce platform. The Company’s product mix includes athletic shoes, apparel and accessories, as well as a range of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, tennis, golf, winter and summer recreation, and roller sports.
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