Lake Street Downgrades Big 5 Sporting Goods

By 247patrick Updated Aug 3, 10:25AM EDT · Published Aug 2, 11:57PM EDT

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Lake Street Downgrades Big 5 Sporting Goods — © Doug Pensinger / Getty Images Sport via Getty Images

Fintel reports that on August 2, 2023, Lake Street downgraded their outlook for Big 5 Sporting Goods (NASDAQ:BGFV) from Buy to Hold.

Analyst Price Forecast Suggests 19.56% Upside

As of August 2, 2023, the average one-year price target for Big 5 Sporting Goods is 9.69. The forecasts range from a low of 9.60 to a high of $9.98. The average price target represents an increase of 19.56% from its latest reported closing price of 8.10.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Big 5 Sporting Goods is 1,055MM, an increase of 11.26%. The projected annual non-GAAP EPS is 1.40.

What is the Fund Sentiment?

There are 242 funds or institutions reporting positions in Big 5 Sporting Goods. This is a decrease of 13 owner(s) or 5.10% in the last quarter. Average portfolio weight of all funds dedicated to BGFV is 0.02%, a decrease of 17.39%. Total shares owned by institutions decreased in the last three months by 0.84% to 11,371K shares. The put/call ratio of BGFV is 0.41, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 686K shares representing 3.14% ownership of the company. In it’s prior filing, the firm reported owning 645K shares, representing an increase of 5.89%. The firm decreased its portfolio allocation in BGFV by 14.55% over the last quarter.

Goldman Sachs Group holds 542K shares representing 2.48% ownership of the company. In it’s prior filing, the firm reported owning 485K shares, representing an increase of 10.47%. The firm decreased its portfolio allocation in BGFV by 7.23% over the last quarter.

IWM – iShares Russell 2000 ETF holds 470K shares representing 2.15% ownership of the company. In it’s prior filing, the firm reported owning 502K shares, representing a decrease of 6.93%. The firm decreased its portfolio allocation in BGFV by 14.91% over the last quarter.

Cambria Investment Management holds 450K shares representing 2.06% ownership of the company. In it’s prior filing, the firm reported owning 405K shares, representing an increase of 10.00%. The firm decreased its portfolio allocation in BGFV by 4.67% over the last quarter.

Geode Capital Management holds 444K shares representing 2.04% ownership of the company. In it’s prior filing, the firm reported owning 411K shares, representing an increase of 7.43%. The firm decreased its portfolio allocation in BGFV by 12.95% over the last quarter.

Big 5 Sporting Goods Background Information
(This description is provided by the company.)

Big 5 is a leading sporting goods retailer in the western United States, operating 430 stores under the ‘Big 5 Sporting Goods’ name as of the fiscal quarter ended January 3, 2021. Big 5 provides a full-line product offering in a traditional sporting goods store format that averages 11,000 square feet. Big 5’s product mix includes athletic shoes, apparel and accessories, as well as a broad selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, home recreation, tennis, golf, and winter and summer recreation.

This article originally appeared on Fintel