Big 5 Sporting Goods (NASDAQ:BGFV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, January 3rd. The firm presently has a $8.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 31.69% from the stock’s current price.
According to Zacks, “Big 5 Sporting is gaining from store penetration strategies, impressive growth plans and financial strength. It leverages an extensive network of stores to effectively penetrate into its target markets, directed toward generating healthy sales and capturing market share. The company anticipates retaining market share gains from last year. Its inventory position is also apt for the winter and holiday seasons. Also, the company’s shareholder-friendly moves are noteworthy. However, the company lagged the industry in three months due to a dismal sales trend that marked second straight miss in third-quarter 2017. Further, a slow start to fall-related product sales and low demand for firearm related products impacted comps in the fourth quarter. This, alongside a tough and highly promotional holiday season is likely to weigh on fourth-quarter comps and profits. Nonetheless, estimates have been trending up ahead of the fourth quarter earnings.”
Separately, ValuEngine raised Big 5 Sporting Goods from a “hold” rating to a “buy” rating in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $8.67.
Shares of Big 5 Sporting Goods (NASDAQ:BGFV) traded up $0.03 during trading on Wednesday, hitting $6.08. The stock had a trading volume of 1,479,915 shares, compared to its average volume of 1,421,872. Big 5 Sporting Goods has a one year low of $6.00 and a one year high of $17.10. The company has a current ratio of 2.07, a quick ratio of 0.16 and a debt-to-equity ratio of 0.24. The company has a market cap of $129.63, a PE ratio of 6.08 and a beta of -0.07.
Big 5 Sporting Goods (NASDAQ:BGFV) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. Big 5 Sporting Goods had a return on equity of 10.37% and a net margin of 2.11%. The firm had revenue of $270.47 million for the quarter, compared to analyst estimates of $272.27 million. During the same period in the prior year, the firm posted $0.38 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. analysts forecast that Big 5 Sporting Goods will post 0.88 earnings per share for the current fiscal year.
In related news, Director Van B. Honeycutt acquired 43,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was bought at an average cost of $7.26 per share, for a total transaction of $312,180.00. Following the completion of the transaction, the director now directly owns 18,600 shares of the company’s stock, valued at $135,036. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGFV. GMT Capital Corp acquired a new stake in Big 5 Sporting Goods during the third quarter worth approximately $4,566,000. Koch Industries Inc. grew its stake in Big 5 Sporting Goods by 1,905.8% in the second quarter. Koch Industries Inc. now owns 278,723 shares of the company’s stock valued at $259,000 after acquiring an additional 264,827 shares during the period. Navellier & Associates Inc acquired a new stake in Big 5 Sporting Goods in the second quarter valued at approximately $3,255,000. Goldman Sachs Group Inc. grew its stake in Big 5 Sporting Goods by 176.1% in the second quarter. Goldman Sachs Group Inc. now owns 373,793 shares of the company’s stock valued at $4,878,000 after acquiring an additional 238,398 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Big 5 Sporting Goods by 36.8% in the second quarter. Ameriprise Financial Inc. now owns 687,768 shares of the company’s stock valued at $8,976,000 after acquiring an additional 185,019 shares during the period.
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Big 5 Sporting Goods 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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