Today The Big 5 Sporting Goods Corporation (BGFV) Raised to “Strong-Buy” at Zacks Investment Research

Today The Big 5 Sporting Goods Corporation (BGFV) Raised to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Big 5 Sporting Goods Corporation (NASDAQ:BGFV) from a hold rating to a strong-buy rating in a report issued on Friday morning. Zacks Investment Research currently has $18.00 price objective on the stock.

According to Zacks, “Big 5's shares have outperformed the Zacks categorized industry in the past one year. The company recently posted solid comps for the fourth-quarter and fiscal 2016, following which it raised the lower end of its fourth quarter earnings outlook, alongside issuing fiscal 2016 estimates. Though sales remained soft for both time frames due to the inclusion of an extra week in the year-ago periods, comps gained from a rise in customer transactions and average sales. This was backed by the company’s capitalization of the opportunities offered by the rationalization in the retail sporting goods space. Following the results and strong view, estimates have moved upwards ahead of the company’s fourth quarter earnings. Also, Big 5’s unique strategy of offering branded merchandise sourced from leading producers bodes well. However, promotional challenges related to the industry consolidation and stiff competitions remain concerns.”

Several other research analysts also recently weighed in on the stock. Forward View set a $18.00 price target on shares of Big 5 Sporting Goods Corporation and gave the stock a buy rating in a research report on Thursday, January 19th. TheStreet upgraded shares of Big 5 Sporting Goods Corporation from a hold rating to a buy rating in a report on Monday, December 12th. Finally, Deutsche Bank AG increased their price objective on shares of Big 5 Sporting Goods Corporation from $16.50 to $18.00 and gave the company a buy rating in a report on Wednesday, November 2nd. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $16.46.

Shares of Big 5 Sporting Goods Corporation (NASDAQ:BGFV) opened at 15.70 on Friday. The firm’s 50-day moving average price is $17.20 and its 200-day moving average price is $15.19. The company has a market capitalization of $338.07 million, a PE ratio of 25.32 and a beta of 0.27. Big 5 Sporting Goods Corporation has a 12-month low of $8.15 and a 12-month high of $20.35.

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.08. Big 5 Sporting Goods Corporation had a net margin of 1.31% and a return on equity of 7.88%. The firm earned $279 million during the quarter, compared to the consensus estimate of $274.64 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that Big 5 Sporting Goods Corporation will post $0.83 EPS for the current fiscal year.

In related news, Director Van B. Honeycutt sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $17.56, for a total transaction of $87,800.00. Following the completion of the transaction, the director now owns 14,400 shares of the company’s stock, valued at approximately $252,864. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Boyd O. Clark sold 1,871 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $19.04, for a total transaction of $35,623.84. Following the transaction, the vice president now directly owns 42,992 shares of the company’s stock, valued at approximately $818,567.68. The disclosure for this sale can be found here. In the last three months, insiders sold 731,714 shares of company stock valued at $13,386,764. Corporate insiders own 7.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in BGFV. LSV Asset Management increased its stake in Big 5 Sporting Goods Corporation by 2.5% in the third quarter. LSV Asset Management now owns 1,035,530 shares of the company’s stock worth $14,103,000 after buying an additional 25,600 shares in the last quarter. Wells Fargo & Company MN increased its stake in Big 5 Sporting Goods Corporation by 6.0% in the third quarter. Wells Fargo & Company MN now owns 142,528 shares of the company’s stock worth $1,941,000 after buying an additional 8,123 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in Big 5 Sporting Goods Corporation during the second quarter worth approximately $243,000. Acadian Asset Management LLC increased its stake in Big 5 Sporting Goods Corporation by 440.1% in the third quarter. Acadian Asset Management LLC now owns 55,251 shares of the company’s stock worth $752,000 after buying an additional 45,021 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Big 5 Sporting Goods Corporation by 47.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,605 shares of the company’s stock worth $478,000 after buying an additional 16,625 shares in the last quarter. 81.07% of the stock is currently owned by hedge funds and other institutional investors.

About Big 5 Sporting Goods Corporation

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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