Zacks Investment Research upgraded shares of Cabela’s Inc. (NYSE:CAB) from a sell rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “Cabela’s multi-channel model, next-generation stores and cost-saving initiatives continue to bode well. The cost-saving endeavors include an improvement in IT process, optimum utilization of retail labor, indirect procurement, merchandise sourcing along with retail support functions and supply chain efficiencies. Management envisions 2016 earnings per share to grow in the range of high-single-digits or low-double-digits in comparison with adjusted earnings per share of $2.88 in 2015. However, stiff competition and cannibalization remain threats, as these may dent results. Cabela’s succumbed to a negative earnings surprise in the second quarter, after delivering back to back earnings beat, with the merchandise gross margin contracting year over year – partly accountable to softness in the apparel category.”
Several other research analysts have also recently commented on the stock. Vetr raised shares of Cabela’s from a sell rating to a hold rating and set a $60.73 target price on the stock in a report on Monday, October 10th. Goldman Sachs Group Inc. reissued a neutral rating and issued a $77.00 price objective on shares of Cabela’s in a research note on Wednesday, October 5th. DA Davidson reissued a neutral rating and issued a $65.50 price objective on shares of Cabela’s in a research note on Tuesday, October 4th. MKM Partners cut shares of Cabela’s from a buy rating to a neutral rating in a research note on Tuesday, October 4th. Finally, Barclays PLC cut shares of Cabela’s from an overweight rating to an equal weight rating and lifted their price objective for the company from $50.00 to $64.00 in a research note on Tuesday, October 4th. Eighteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $54.38.
Shares of Cabela’s (NYSE:CAB) traded down 0.15% during mid-day trading on Monday, hitting $61.77. 87,237 shares of the company’s stock traded hands. The company has a market cap of $4.23 billion, a PE ratio of 23.42 and a beta of 0.96. The firm has a 50-day moving average of $53.98 and a 200 day moving average of $51.42. Cabela’s has a 52 week low of $33.03 and a 52 week high of $63.60.
Cabela’s (NYSE:CAB) last announced its earnings results on Thursday, July 28th. The company reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Cabela’s had a return on equity of 11.16% and a net margin of 4.44%. The business had revenue of $929.90 million for the quarter, compared to the consensus estimate of $905.42 million. During the same period in the prior year, the business posted $0.56 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts predict that Cabela’s will post $3.17 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Cabela’s by 6.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,194 shares of the company’s stock worth $110,000 after buying an additional 128 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Cabela’s by 70.1% in the second quarter. LS Investment Advisors LLC now owns 2,997 shares of the company’s stock worth $150,000 after buying an additional 1,235 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Cabela’s during the third quarter worth $165,000. Tower Research Capital LLC TRC increased its position in shares of Cabela’s by 2.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,440 shares of the company’s stock worth $172,000 after buying an additional 76 shares in the last quarter. Finally, WFG Advisors LP increased its position in shares of Cabela’s by 17.3% in the second quarter. WFG Advisors LP now owns 3,641 shares of the company’s stock worth $182,000 after buying an additional 536 shares in the last quarter. 68.38% of the stock is owned by institutional investors and hedge funds.
Cabela’s Company Profile
Cabela’s Incorporated is a specialty retailer and a direct marketer of hunting, fishing, camping and related outdoor merchandise. The Company offers national and regional brand products, including its Cabela’s brand. The Company’s segments include Retail, Direct, Financial Services, and Corporate Overhead and Other.