Zacks Investment Research lowered shares of Big 5 Sporting Goods (NASDAQ:BGFV) from a buy rating to a hold rating in a report issued on Thursday, January 11th.
According to Zacks, “Big 5 Sporting underperformed the industry in the past three months as its dismal sales trend continued into the fourth quarter. The company recently posted soft sales numbers for the fourth quarter and full-year 2017. Results were hurt by an extremely challenging December characterized by fall in core winter product categories due to warm and dry weather conditions. This along with awfully soft firearm-related products sales significantly impacted customer traffic, which in turn weighed on comps and merchandise margins. Consequently, the company slashed earnings guidance for both fourth quarter and full-year 2017. Moreover, the continuation of these weather conditions into the first quarter of 2018 has hurt investor sentiments. However, the company remains contend with merchandise inventories at the start of the first quarter. Also, the company’s store penetration strategies, impressive growth plans and financial strength bode well.”
Separately, ValuEngine lowered shares of 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 company. The company presently has an average rating of Hold and an average price target of $8.67.
Shares of Big 5 Sporting Goods (BGFV) traded up $0.12 during trading hours on Thursday, hitting $5.32. 784,666 shares of the stock were exchanged, compared to its average volume of 1,580,660. The company has a quick ratio of 0.16, a current ratio of 2.07 and a debt-to-equity ratio of 0.24. Big 5 Sporting Goods has a 1 year low of $5.05 and a 1 year high of $17.10. The company has a market cap of $117.85, a price-to-earnings ratio of 5.20 and a beta of -0.38.
In other news, Director Van B. Honeycutt purchased 43,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were acquired at an average price of $7.26 per share, with a total value of $312,180.00. Following the acquisition, the director now directly owns 18,600 shares in the company, valued at $135,036. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.90% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its position in Big 5 Sporting Goods by 45.4% during the second quarter. BNP Paribas Arbitrage SA now owns 7,954 shares of the company’s stock valued at $104,000 after acquiring an additional 2,482 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of Big 5 Sporting Goods in the 2nd quarter valued at approximately $133,000. Private Advisor Group LLC bought a new stake in shares of Big 5 Sporting Goods in the 3rd quarter valued at approximately $165,000. Connors Investor Services Inc. grew its stake in shares of Big 5 Sporting Goods by 18.2% in the 2nd quarter. Connors Investor Services Inc. now owns 16,236 shares of the company’s stock valued at $212,000 after purchasing an additional 2,500 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Big 5 Sporting Goods by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the company’s stock valued at $219,000 after purchasing an additional 3,625 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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