Cabela’s Inc. (CAB) Upgraded to “Hold” by Zacks Investment Research
Cabela’s Inc. (NYSE:CAB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Cabela’s multi-channel model, next-generation stores and cost-saving initiatives continue to bode well. The cost-saving endeavors include an improvement in IT process, optimum utilization of retail labor, indirect procurement, merchandise sourcing along with retail support functions and supply chain efficiencies. Management envisions 2016 earnings per share to grow in the range of high-single-digits or low-double-digits in comparison with adjusted earnings per share of $2.88 in 2015. However, stiff competition and cannibalization remain threats, as these may dent results. Cabela’s succumbed to a negative earnings surprise in the second quarter, after delivering back to back earnings beat, with the merchandise gross margin contracting year over year – partly accountable to softness in the apparel category.”
CAB has been the topic of a number of other research reports. DA Davidson reiterated a “neutral” rating and issued a $65.50 price target on shares of Cabela’s in a report on Tuesday, October 4th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $77.00 price target on shares of Cabela’s in a report on Wednesday, October 5th. MKM Partners lowered shares of Cabela’s from a “buy” rating to a “neutral” rating in a report on Tuesday, October 4th. Barclays PLC lowered shares of Cabela’s from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $50.00 to $64.00 in a report on Tuesday, October 4th. Finally, Vetr upgraded shares of Cabela’s from a “sell” rating to a “hold” rating and set a $60.73 price target on the stock in a report on Monday, October 10th. Eighteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $54.38.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/cabelas-inc-cab-upgraded-to-hold-by-zacks-investment-research.html
Cabela’s (NYSE:CAB) traded up 0.18% during mid-day trading on Monday, hitting $62.01. The stock had a trading volume of 376,104 shares. The company has a 50 day moving average price of $53.63 and a 200-day moving average price of $51.28. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 23.52 and a beta of 0.96. Cabela’s has a one year low of $33.03 and a one year high of $63.60.
Cabela’s (NYSE:CAB) last released its earnings results on Thursday, July 28th. The company reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm earned $929.90 million during the quarter, compared to analysts’ expectations of $905.42 million. Cabela’s had a return on equity of 11.16% and a net margin of 4.44%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. Equities analysts expect that Cabela’s will post $3.17 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in CAB. Saturna Capital increased its stake in shares of Cabela’s by 18.2% in the third quarter. Saturna Capital now owns 7,853 shares of the company’s stock worth $358,000 after buying an additional 1,211 shares in the last quarter. Russell Frank Co increased its stake in shares of Cabela’s by 23.5% in the fourth quarter. Russell Frank Co now owns 249,703 shares of the company’s stock worth $11,647,000 after buying an additional 47,586 shares in the last quarter. Highland Capital Management LLC increased its stake in shares of Cabela’s by 7.3% in the fourth quarter. Highland Capital Management LLC now owns 33,313 shares of the company’s stock worth $1,557,000 after buying an additional 2,263 shares in the last quarter. DIAM Co. Ltd. acquired a new stake in shares of Cabela’s during the fourth quarter worth $324,000. Finally, California State Teachers Retirement System increased its stake in shares of Cabela’s by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 96,252 shares of the company’s stock worth $4,498,000 after buying an additional 1,463 shares in the last quarter. 68.38% of the stock is owned by institutional investors and hedge funds.
Cabela’s Incorporated is a specialty retailer and a direct marketer of hunting, fishing, camping and related outdoor merchandise. The Company offers national and regional brand products, including its Cabela’s brand. The Company’s segments include Retail, Direct, Financial Services, and Corporate Overhead and Other.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cabela's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabela's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.