Big 5 Sporting Goods Corp. (NASDAQ:BGFV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 boosted their target price on shares of Big 5 Sporting Goods Corp. from $9.00 to $10.00 and gave the company a “hold” rating in a report on Wednesday, August 3rd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Big 5 Sporting Goods Corp. currently has an average rating of “Buy” and a consensus target price of $12.86.
Shares of Big 5 Sporting Goods Corp. (NASDAQ:BGFV) traded down 0.43% during midday trading on Tuesday, hitting $13.79. 44,748 shares of the company’s stock were exchanged. Big 5 Sporting Goods Corp. has a 1-year low of $8.15 and a 1-year high of $14.64. The stock has a market cap of $298.57 million, a PE ratio of 26.17 and a beta of 0.56. The stock’s 50 day moving average is $13.53 and its 200-day moving average is $11.06.
Big 5 Sporting Goods Corp. (NASDAQ:BGFV) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The business earned $241.10 million during the quarter, compared to the consensus estimate of $238.29 million. Big 5 Sporting Goods Corp. had a net margin of 1.12% and a return on equity of 6.50%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. Analysts predict that Big 5 Sporting Goods Corp. will post $0.52 earnings per share 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 given a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.50 dividend on an annualized basis and a yield of 3.61%. Big 5 Sporting Goods Corp.’s dividend payout ratio (DPR) is 94.34%.
In other news, Director Stadium Capital Partners L. P sold 9,893 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $13.08, for a total transaction of $129,400.44. Following the transaction, the director now directly owns 2,423,842 shares of the company’s stock, valued at $31,703,853.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stadium Capital Management Llc sold 106,194 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $12.66, for a total transaction of $1,344,416.04. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BGFV. Thrivent Financial for Lutherans boosted its position in Big 5 Sporting Goods Corp. by 0.6% in the second quarter. Thrivent Financial for Lutherans now owns 63,920 shares of the company’s stock worth $592,000 after buying an additional 380 shares during the last quarter. Teton Advisors Inc. boosted its position in Big 5 Sporting Goods Corp. by 0.3% in the second quarter. Teton Advisors Inc. now owns 287,500 shares of the company’s stock worth $2,665,000 after buying an additional 1,000 shares during the last quarter. BlackRock Group LTD boosted its position in Big 5 Sporting Goods Corp. by 8.7% in the second quarter. BlackRock Group LTD now owns 16,739 shares of the company’s stock worth $155,000 after buying an additional 1,339 shares during the last quarter. Prudential Financial Inc. boosted its position 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. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Big 5 Sporting Goods Corp. by 0.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 473,169 shares of the company’s stock worth $4,386,000 after buying an additional 2,081 shares during the last quarter. 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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