Big 5 Sporting Goods (NASDAQ:BGFV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, January 3rd. The brokerage currently has a $8.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 29.03% from the company’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 cut Big 5 Sporting Goods from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $8.67.
Big 5 Sporting Goods (BGFV) traded up $0.10 during trading hours on Wednesday, hitting $6.20. The stock had a trading volume of 1,145,573 shares, compared to its average volume of 1,450,000. Big 5 Sporting Goods has a fifty-two week low of $6.00 and a fifty-two week high of $17.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.07 and a quick ratio of 0.16. The company has a market cap of $135.02, a PE ratio of 6.20 and a beta of -0.07.
Big 5 Sporting Goods (NASDAQ:BGFV) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.28 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. Big 5 Sporting Goods had a return on equity of 11.63% and a net margin of 2.20%. The business had revenue of $270.47 million for the quarter, compared to analysts’ expectations of $272.27 million. During the same quarter in the previous year, the business posted $0.38 EPS. Big 5 Sporting Goods’s revenue for the quarter was down 3.1% on a year-over-year basis. equities analysts anticipate that Big 5 Sporting Goods will post 0.88 earnings per share for the current year.
In other Big 5 Sporting Goods news, Director Van B. Honeycutt acquired 43,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were acquired at an average price of $7.26 per share, for a total transaction of $312,180.00. Following the acquisition, the director now directly owns 18,600 shares of the company’s stock, valued at approximately $135,036. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Big 5 Sporting Goods by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,867,803 shares of the company’s stock valued at $24,375,000 after acquiring an additional 12,462 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Big 5 Sporting Goods by 17.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,186,065 shares of the company’s stock worth $15,478,000 after purchasing an additional 174,942 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Big 5 Sporting Goods by 18.9% during the 2nd quarter. Principal Financial Group Inc. now owns 786,699 shares of the company’s stock worth $10,267,000 after purchasing an additional 125,164 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Big 5 Sporting Goods by 36.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 687,768 shares of the company’s stock worth $8,976,000 after purchasing an additional 185,019 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Big 5 Sporting Goods by 13.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 601,150 shares of the company’s stock worth $4,599,000 after purchasing an additional 71,382 shares in the last quarter.
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About Big 5 Sporting Goods
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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