Big 5 Sporting Goods (BGFV) Downgraded to “Hold” at Zacks Investment Research

Big 5 Sporting Goods (NASDAQ:BGFV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Big 5 Sporting underperformed the industry in the past three months as its dismal sales trend continued into the fourth quarter. The company recently posted soft sales numbers for the fourth quarter and full-year 2017. Results were hurt by an extremely challenging December characterized by fall in core winter product categories due to warm and dry weather conditions. This along with awfully soft firearm-related products sales significantly impacted customer traffic, which in turn weighed on comps and merchandise margins. Consequently, the company slashed earnings guidance for both fourth quarter and full-year 2017. Moreover, the continuation of these weather conditions into the first quarter of 2018 has hurt investor sentiments. However, the company remains contend with merchandise inventories at the start of the first quarter. Also, the company’s store penetration strategies, impressive growth plans and financial strength bode well.”

Separately, ValuEngine raised shares of Big 5 Sporting Goods from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Big 5 Sporting Goods has an average rating of “Hold” and a consensus target price of $8.67.

Shares of Big 5 Sporting Goods (NASDAQ BGFV) traded down $0.30 during midday trading on Thursday, hitting $6.32. 1,940,900 shares of the stock were exchanged, compared to its average volume of 2,105,829. The company has a market capitalization of $133.38, a PE ratio of 6.32 and a beta of -0.07. Big 5 Sporting Goods has a 52 week low of $6.00 and a 52 week high of $17.10. The company has a current ratio of 2.07, a quick ratio of 0.16 and a debt-to-equity ratio of 0.24.

Big 5 Sporting Goods (NASDAQ:BGFV) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. The company had revenue of $270.47 million for the quarter, compared to analysts’ expectations of $272.27 million. Big 5 Sporting Goods had a net margin of 2.11% and a return on equity of 10.37%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. analysts forecast that Big 5 Sporting Goods will post 0.9 EPS for the current fiscal year.

In other news, Director Van B. Honeycutt purchased 43,000 shares of Big 5 Sporting Goods stock in a transaction dated Thursday, November 30th. The shares were bought at an average cost of $7.26 per share, with a total value of $312,180.00. Following the completion of the transaction, the director now directly owns 18,600 shares in the company, valued at approximately $135,036. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BGFV. GMT Capital Corp bought a new stake in Big 5 Sporting Goods in the 3rd quarter valued at $4,566,000. Koch Industries Inc. lifted its position in Big 5 Sporting Goods by 1,905.8% in the 2nd quarter. Koch Industries Inc. now owns 278,723 shares of the company’s stock valued at $259,000 after acquiring an additional 264,827 shares in the last quarter. Navellier & Associates Inc bought a new stake in Big 5 Sporting Goods in the 2nd quarter valued at $3,255,000. Goldman Sachs Group Inc. lifted its position in Big 5 Sporting Goods by 176.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 373,793 shares of the company’s stock valued at $4,878,000 after acquiring an additional 238,398 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Big 5 Sporting Goods by 36.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 687,768 shares of the company’s stock valued at $8,976,000 after acquiring an additional 185,019 shares in the last quarter.

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About Big 5 Sporting Goods

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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