Zacks Investment Research Lowers Big 5 Sporting Goods Corp. (BGFV) to Hold
Big 5 Sporting Goods Corp. (NASDAQ:BGFV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Big 5’s unique strategy of offering branded merchandise sourced from leading manufacturers provides it with a competitive edge. The company’s merchandising plans, eCommerce growth and solid store network help it capture market share and fuel growth. Also, its strong financials provide it with the flexibility to boost shareholder value. Further, Big 5’s second-quarter 2016 earnings and a strong start to the third quarter encouraged management to provide an optimistic third quarter outlook. However, promotional challenges related to the industry consolidation are expected to linger in future. Also, the company remains susceptible to stiff competition from other players. Nonetheless, estimates have been stable ahead of the third quarter earnings release.”
Separately, Deutsche Bank AG increased their price target on Big 5 Sporting Goods Corp. from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $13.46.
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Big 5 Sporting Goods Corp. (NASDAQ:BGFV) opened at 15.74 on Tuesday. The firm has a 50-day moving average price of $13.72 and a 200-day moving average price of $11.16. Big 5 Sporting Goods Corp. has a 12-month low of $8.15 and a 12-month high of $15.90. The stock has a market cap of $340.79 million, a PE ratio of 29.87 and a beta of 0.56.
Big 5 Sporting Goods Corp. (NASDAQ:BGFV) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.08. Big 5 Sporting Goods Corp. had a return on equity of 6.50% and a net margin of 1.12%. The business earned $241.10 million during the quarter, compared to analyst estimates of $238.29 million. During the same quarter last year, the company posted $0.15 EPS. Big 5 Sporting Goods Corp.’s revenue for the quarter was up .3% on a year-over-year basis. Analysts forecast that Big 5 Sporting Goods Corp. will post $0.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.50 dividend on an annualized basis and a yield of 3.18%. Big 5 Sporting Goods Corp.’s payout ratio is presently 94.34%.
In other news, Director Stadium Capital Partners L. P sold 10,584 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $13.09, for a total transaction of $138,544.56. Following the completion of the sale, the director now directly owns 2,423,842 shares of the company’s stock, valued at approximately $31,728,091.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stadium Capital Partners L. P sold 9,893 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $13.08, for a total value of $129,400.44. Following the sale, the director now directly owns 2,423,842 shares of the company’s stock, valued at $31,703,853.36. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.
Several large investors have recently bought and sold shares of the company. FormulaFolio Investments LLC purchased a new stake in Big 5 Sporting Goods Corp. during the second quarter worth $102,000. First Midwest Bank Trust Division purchased a new stake in Big 5 Sporting Goods Corp. during the second quarter worth $132,000. Princeton Alpha Management LP purchased a new stake in Big 5 Sporting Goods Corp. during the second quarter worth $149,000. BlackRock Group LTD increased its stake in Big 5 Sporting Goods Corp. by 8.7% in the second quarter. BlackRock Group LTD now owns 16,739 shares of the company’s stock worth $155,000 after buying an additional 1,339 shares during the period. Finally, Connors Investor Services Inc. increased its stake in Big 5 Sporting Goods Corp. by 17.8% in the second quarter. Connors Investor Services Inc. now owns 19,836 shares of the company’s stock worth $184,000 after buying an additional 3,000 shares during the period. 77.67% of the stock is owned by institutional investors.
About Big 5 Sporting Goods Corp.
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 that averages approximately 11,000 square feet. 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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