Big 5 Sporting Goods Corporation (NASDAQ:BGFV) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Big 5 Sporting's shares have underperformed the industry in the last three months. Incidentally, management expects sales comparisons for the third quarter to remain tough due to the cycling of benefits from increased sales witnessed in the prior-year quarter related to the closure of rival stores. Moreover, the company expects the challenging retail environment to persist. Notably, these factors, along with diminished demand for the hardgoods category hurt the company’s second-quarter 2017 results. Both, the top and bottom-line lagged estimates. Nevertheless, going forward, Big 5 Sporting expects to retain market share gains from last year. Further, its inventory position is apt for the rest of summer and the back to school season. Additionally, Big 5 Sporting's shareholder-friendly moves should draw investors’ attention.”

Several other research analysts have also recently weighed in on the company. ValuEngine cut Big 5 Sporting Goods Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Forward View restated a “hold” rating and issued a $8.00 price target on shares of Big 5 Sporting Goods Corporation in a research note on Sunday, September 3rd. BidaskClub cut Big 5 Sporting Goods Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. Deutsche Bank AG cut Big 5 Sporting Goods Corporation from a “buy” rating to a “hold” rating and decreased their price target for the stock from $20.00 to $10.00 in a research note on Wednesday, August 2nd. Finally, TheStreet cut Big 5 Sporting Goods Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Big 5 Sporting Goods Corporation presently has a consensus rating of “Hold” and an average price target of $9.00.

Big 5 Sporting Goods Corporation (BGFV) opened at 7.80 on Tuesday. Big 5 Sporting Goods Corporation has a 52 week low of $7.10 and a 52 week high of $20.35. The firm has a 50-day moving average price of $7.70 and a 200-day moving average price of $11.94. The company has a market cap of $169.62 million, a P/E ratio of 7.17 and a beta of -0.11.

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.06). Big 5 Sporting Goods Corporation had a return on equity of 11.86% and a net margin of 2.30%. The business had revenue of $243.67 million during the quarter, compared to analysts’ expectations of $251.03 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts anticipate that Big 5 Sporting Goods Corporation will post $0.96 EPS for the current fiscal year.

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In other news, Director Van B. Honeycutt acquired 48,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 18,600 shares of the company’s stock, valued at approximately $143,406. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund grew its holdings 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 acquiring an additional 185 shares during the period. Comerica Bank grew its holdings in shares of Big 5 Sporting Goods Corporation by 4.1% in the first quarter. Comerica Bank now owns 19,692 shares of the company’s stock worth $312,000 after acquiring an additional 776 shares during the period. Zacks Investment Management grew its holdings in shares of Big 5 Sporting Goods Corporation by 8.1% in the second quarter. Zacks Investment Management now owns 20,269 shares of the company’s stock worth $265,000 after acquiring an additional 1,521 shares during the period. Legal & General Group Plc grew its holdings in shares of Big 5 Sporting Goods Corporation by 5.5% in the second quarter. Legal & General Group Plc now owns 31,683 shares of the company’s stock worth $414,000 after acquiring an additional 1,650 shares during the period. Finally, California State Teachers Retirement System grew its holdings in shares of Big 5 Sporting Goods Corporation by 6.6% in the second quarter. California State Teachers Retirement System now owns 37,229 shares of the company’s stock worth $486,000 after acquiring an additional 2,300 shares during the period.

About Big 5 Sporting Goods Corporation

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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