Big 5 Sporting Goods (NASDAQ:BGFV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Big 5 Sporting has underperformed the industry in the past three months due to a dismal sales surprise trend, which continued in the fourth quarter of 2017. Though the company posted narrower-than-expected loss in the quarter, sales missed estimates for the third straight time. Sales were mainly hurt by negative comps, a tough and promotional retail backdrop and weakness in its firearm related business. Further, merchandise margins were impacted by a shift in sales mix and higher promotional activities. Following the soft quarter, the company issued dismal guidance for the first quarter of 2018. However, Big 5 Sporting remains committed toward expanding its store base and introducing technological advancements to enhance services for its patrons, bodes well. Additionally, the company’s shareholder-friendly moves are noteworthy.”
Separately, ValuEngine lowered shares of Big 5 Sporting Goods from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Big 5 Sporting Goods has a consensus rating of “Hold” and a consensus target price of $8.67.
Big 5 Sporting Goods (NASDAQ:BGFV) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). Big 5 Sporting Goods had a net margin of 2.11% and a return on equity of 10.37%. The firm had revenue of $242.89 million for the quarter, compared to analyst estimates of $262.18 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. sell-side analysts forecast that Big 5 Sporting Goods will post 0.54 EPS for the current fiscal year.
In other Big 5 Sporting Goods news, Director Van B. Honeycutt bought 43,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were bought at an average price of $7.26 per share, for a total transaction of $312,180.00. Following the acquisition, the director now directly owns 18,600 shares of the company’s stock, valued at approximately $135,036. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Big 5 Sporting Goods by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,867,803 shares of the company’s stock worth $24,375,000 after acquiring an additional 12,462 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Big 5 Sporting Goods by 17.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,186,065 shares of the company’s stock worth $15,478,000 after acquiring an additional 174,942 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of Big 5 Sporting Goods by 41.5% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 665,815 shares of the company’s stock worth $5,060,000 after acquiring an additional 195,430 shares during the last quarter. Guggenheim Capital LLC raised its holdings in shares of Big 5 Sporting Goods by 102.7% in the 4th quarter. Guggenheim Capital LLC now owns 605,285 shares of the company’s stock worth $4,600,000 after acquiring an additional 306,723 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Big 5 Sporting Goods by 13.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 601,150 shares of the company’s stock worth $4,599,000 after acquiring an additional 71,382 shares during the last quarter.
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Big 5 Sporting Goods 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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