Big 5 Sporting Goods Corporation (NASDAQ:BGFV) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Friday.

According to Zacks, “Big 5 Sporting's shares have underperformed the broader industry in the last three months. The company posted lower-than-expected top-line results in second-quarter 2017. While comps improved, it was significantly hurt by diminished demand for some products in the hardgoods category as well as the the calendar shift of Easter and Fourth of July holidays into the second quarter. Further, the company provided soft comps and earnings outlook for the third quarter due to cycling of the benefits of rival store closures last year and a tough retail environment. However, the company’s earnings topped estimates, marking its fifth straight earnings beat. Going forward, the company expects to retain market share gains from last year. Further, its inventory position is apt for the rest of summer and the back to school season. Additionally, Big 5 Sporting's shareholder-friendly moves are noteworthy.”

Other equities research analysts have also recently issued reports about the company. Forward View set a $14.00 price target on Big 5 Sporting Goods Corporation and gave the company a “hold” rating in a research report on Sunday, May 28th. BidaskClub cut Big 5 Sporting Goods Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. Deutsche Bank AG cut Big 5 Sporting Goods Corporation from a “buy” rating to a “hold” rating and decreased their price target for the company from $20.00 to $10.00 in a research report on Wednesday. Finally, ValuEngine cut Big 5 Sporting Goods Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $13.67.

Big 5 Sporting Goods Corporation (NASDAQ BGFV) traded down 0.53% during trading on Friday, reaching $9.35. 1,369,782 shares of the company were exchanged. Big 5 Sporting Goods Corporation has a one year low of $9.30 and a one year high of $20.35. The firm’s 50 day moving average price is $12.44 and its 200-day moving average price is $14.20. The stock has a market capitalization of $203.33 million, a price-to-earnings ratio of 8.59 and a beta of -0.09.

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.06. The business had revenue of $243.67 million for the quarter, compared to analysts’ expectations of $251.03 million. Big 5 Sporting Goods Corporation had a net margin of 2.30% and a return on equity of 11.86%. Big 5 Sporting Goods Corporation’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. On average, equities research analysts predict that Big 5 Sporting Goods Corporation will post $0.93 earnings per share for the current year.

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In related news, Director Van B. Honeycutt sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $13.83, for a total value of $165,960.00. Following the transaction, the director now directly owns 14,400 shares in the company, valued at $199,152. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Gary S. Meade sold 1,865 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $14.57, for a total transaction of $27,173.05. Following the completion of the transaction, the vice president now owns 18,093 shares in the company, valued at $263,615.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,960 shares of company stock worth $235,146. 7.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of BGFV. Symons Capital Management Inc. bought a new position in Big 5 Sporting Goods Corporation during the second quarter valued at $181,000. KBC Group NV raised its stake in shares of Big 5 Sporting Goods Corporation by 53.3% in the second quarter. KBC Group NV now owns 92,150 shares of the company’s stock valued at $1,203,000 after buying an additional 32,022 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Big 5 Sporting Goods Corporation by 45.4% in the second quarter. BNP Paribas Arbitrage SA now owns 7,954 shares of the company’s stock valued at $104,000 after buying an additional 2,482 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Big 5 Sporting Goods Corporation by 5.5% in the second quarter. Legal & General Group Plc now owns 31,683 shares of the company’s stock valued at $414,000 after buying an additional 1,650 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Big 5 Sporting Goods Corporation by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 459,682 shares of the company’s stock valued at $6,000,000 after buying an additional 9,813 shares in the last quarter.

Big 5 Sporting Goods Corporation 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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