Big 5 Sporting Goods Corp. (NASDAQ:BGFV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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 upped their price objective on Big 5 Sporting Goods Corp. from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $12.86.
Big 5 Sporting Goods Corp. (NASDAQ:BGFV) opened at 13.87 on Tuesday. The stock’s 50 day moving average price is $13.57 and its 200-day moving average price is $11.10. The stock has a market capitalization of $300.30 million, a PE ratio of 26.32 and a beta of 0.56. Big 5 Sporting Goods Corp. has a 52-week low of $8.15 and a 52-week high of $14.64.
Big 5 Sporting Goods Corp. (NASDAQ:BGFV) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The firm earned $241.10 million during the quarter, compared to analysts’ expectations of $238.29 million. Big 5 Sporting Goods Corp. had a return on equity of 6.50% and a net margin of 1.12%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. On average, equities analysts expect that Big 5 Sporting Goods Corp. will post $0.52 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Tuesday, August 30th. Big 5 Sporting Goods Corp.’s dividend payout ratio (DPR) is presently 94.34%.
In other news, Director Stadium Capital Partners L. P sold 10,584 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $13.09, for a total value of $138,544.56. Following the transaction, the director now directly owns 2,423,842 shares of the company’s stock, valued at $31,728,091.78. The sale was disclosed in a filing 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 stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $13.08, for a total value of $129,400.44. Following the completion of the transaction, the director now directly owns 2,423,842 shares in the company, valued at $31,703,853.36. The disclosure for this sale can be found here. 7.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BGFV. Acadian Asset Management LLC bought a new stake in Big 5 Sporting Goods Corp. during the first quarter valued at approximately $368,000. Prudential Financial Inc. raised its stake in Big 5 Sporting Goods Corp. by 4.2% in the first quarter. Prudential Financial Inc. now owns 44,169 shares of the company’s stock valued at $491,000 after buying an additional 1,800 shares during the period. Algert Global LLC raised its stake in Big 5 Sporting Goods Corp. by 84.2% in the first quarter. Algert Global LLC now owns 68,552 shares of the company’s stock valued at $762,000 after buying an additional 31,342 shares during the period. Spark Investment Management LLC bought a new stake in Big 5 Sporting Goods Corp. during the first quarter valued at approximately $1,088,000. Finally, Geode Capital Management LLC raised its stake in Big 5 Sporting Goods Corp. by 1.4% in the first quarter. Geode Capital Management LLC now owns 318,879 shares of the company’s stock valued at $3,542,000 after buying an additional 4,377 shares during the period. 77.67% of the stock is currently owned by institutional investors and hedge funds.
Big 5 Sporting Goods Corp. 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 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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