Big 5 Sporting Goods Corporation (BGFV) Cut to Strong Sell at Zacks Investment Research
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 report issued on Friday.
According to Zacks, “Big 5 Sporting underperformed the industry in the last three months due to a dismal sales surprise trend. The company missed sales estimates for the second straight quarter in third-quarter 2017. Sales were hurt by negative comps, a tough and promotional retail backdrop, and weakness in firearm related business. Further, cycling of benefits from the closure of rival stores in third-quarter 2016 impacted the top line. Moreover, comps have been soft so far in the fourth quarter due to a slow start to fall-related product sales and low demand for firearm related products. Persistence of these factors, alongside a tough and highly promotional holiday season, is likely to weigh on the company’s fourth-quarter comps and profits. However, it anticipates to retain market share gains from last year. Further, its inventory position is apt for the winter and holiday seasons. Also, Big 5 Sporting's shareholder-friendly moves are noteworthy.”
A number of other analysts have also recently weighed in on the company. ValuEngine upgraded Big 5 Sporting Goods Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Forward View reaffirmed a “hold” rating and issued a $8.00 target price on shares of Big 5 Sporting Goods Corporation in a research report on Sunday, September 3rd. TheStreet lowered Big 5 Sporting Goods Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. Deutsche Bank AG lowered Big 5 Sporting Goods Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $20.00 to $10.00 in a research note on Wednesday, August 2nd. Finally, BidaskClub lowered Big 5 Sporting Goods Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Big 5 Sporting Goods Corporation currently has an average rating of “Hold” and a consensus price target of $9.00.
Big 5 Sporting Goods Corporation (NASDAQ:BGFV) last released its earnings results on Tuesday, October 31st. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.28. The business had revenue of $270.47 million for the quarter, compared to analyst estimates of $272.27 million. Big 5 Sporting Goods Corporation had a return on equity of 10.37% and a net margin of 2.11%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share.
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In other news, Director Van B. Honeycutt bought 48,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $7.71 per share, with a total value of $370,080.00. Following the completion of the transaction, the director now directly owns 18,600 shares in the company, valued at $143,406. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGFV. FormulaFolio Investments LLC acquired a new stake in Big 5 Sporting Goods Corporation during the second quarter valued at approximately $102,000. BNP Paribas Arbitrage SA boosted its holdings in Big 5 Sporting Goods Corporation 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 purchasing an additional 2,482 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in Big 5 Sporting Goods Corporation during the third quarter valued at approximately $121,000. Quantbot Technologies LP acquired a new stake in Big 5 Sporting Goods Corporation during the first quarter valued at approximately $125,000. Finally, First Midwest Bank Trust Division acquired a new stake in Big 5 Sporting Goods Corporation during the second quarter valued at approximately $132,000.
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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