Big 5 Sporting Goods Corp. (BGFV) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Big 5 Sporting Goods Corp. (NASDAQ:BGFV) from a hold rating to a buy rating in a research report report published on Friday morning. The brokerage currently has $17.00 price objective on the stock.
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 raised Big 5 Sporting Goods Corp. from a hold rating to a buy rating and cut their price target for the stock from $16.50 to $10.00 in a report on Thursday. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $13.46.
Shares of Big 5 Sporting Goods Corp. (NASDAQ:BGFV) traded up 1.14% during trading on Friday, reaching $15.92. The company’s stock had a trading volume of 105,189 shares. The stock’s 50-day moving average is $13.72 and its 200-day moving average is $11.16. The stock has a market cap of $344.68 million, a P/E ratio of 30.21 and a beta of 0.56. Big 5 Sporting Goods Corp. has a 12-month low of $8.15 and a 12-month high of $16.12.
Big 5 Sporting Goods Corp. (NASDAQ:BGFV) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.08. Big 5 Sporting Goods Corp. had a return on equity of 6.50% and a net margin of 1.12%. The firm earned $241.10 million during the quarter, compared to analyst estimates of $238.29 million. During the same period last year, the company earned $0.15 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Big 5 Sporting Goods Corp. will post $0.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Tuesday, August 30th. Big 5 Sporting Goods Corp.’s dividend payout ratio is 94.34%.
In other Big 5 Sporting Goods Corp. news, Director Stadium Capital Management Llc sold 106,194 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $12.66, for a total transaction of $1,344,416.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stadium Capital Partners L. P sold 10,584 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $13.09, for a total value of $138,544.56. Following the sale, the director now owns 2,423,842 shares in the company, valued at approximately $31,728,091.78. The disclosure for this sale can be found here. Corporate insiders own 7.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in Big 5 Sporting Goods Corp. during the first quarter worth $368,000. Prudential Financial Inc. increased 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 worth $491,000 after buying an additional 1,800 shares during the last quarter. Spark Investment Management LLC purchased a new stake in Big 5 Sporting Goods Corp. during the first quarter worth $1,088,000. Hancock Holding Co. purchased a new stake in Big 5 Sporting Goods Corp. during the first quarter worth $601,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in Big 5 Sporting Goods Corp. by 115.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 39,500 shares of the company’s stock worth $439,000 after buying an additional 21,200 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.
About Big 5 Sporting Goods Corp.
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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