Sportsman’s Warehouse (NASDAQ:SPWH) Rating Lowered to Hold at Zacks Investment Research

Posted by on Jun 1st, 2022

Sportsman’s Warehouse (NASDAQ:SPWH – Get Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Sportsman’s Warehouse Holdings, Inc. is an outdoor sporting goods retailer. Its stores offer camping products, fishing products, and hunting and shooting products. The Company’s stores also provide clothing products, footwear products and optics, electronics, and accessories. It also carries a range of private label offerings under the Rustic Ridge, Yukon Gold and Sportsman’s Warehouse brands. Sportsman’s Warehouse Holdings, Inc. is headquartered in Midvale, Utah. “

SPWH has been the topic of a number of other reports. Piper Sandler raised their price objective on shares of Sportsman’s Warehouse from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, March 30th. TheStreet downgraded Sportsman’s Warehouse from a “b-” rating to a “c” rating in a research note on Wednesday, February 9th. B. Riley started coverage on Sportsman’s Warehouse in a research note on Tuesday, May 17th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, StockNews.com assumed coverage on Sportsman’s Warehouse in a report on Thursday, March 31st. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Sportsman’s Warehouse has a consensus rating of “Buy” and an average target price of $15.60.

Shares of Sportsman’s Warehouse stock opened at $9.46 on Wednesday. The business has a 50-day simple moving average of $10.23 and a 200 day simple moving average of $11.52. Sportsman’s Warehouse has a one year low of $8.55 and a one year high of $18.05. The firm has a market capitalization of $415.10 million, a price-to-earnings ratio of 3.89 and a beta of 0.97.

Sportsman’s Warehouse (NASDAQ:SPWH – Get Rating) last released its quarterly earnings data on Tuesday, May 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Sportsman’s Warehouse had a return on equity of 30.22% and a net margin of 7.20%. The firm had revenue of $309.51 million during the quarter, compared to the consensus estimate of $306.17 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts predict that Sportsman’s Warehouse will post 1.44 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Kite Lake Capital Management UK LLP purchased a new stake in shares of Sportsman’s Warehouse during the 4th quarter valued at $29,059,000. Marshall Wace LLP increased its holdings in Sportsman’s Warehouse by 326.3% during the fourth quarter. Marshall Wace LLP now owns 1,927,453 shares of the company’s stock worth $22,743,000 after buying an additional 1,475,269 shares during the last quarter. Cannell Capital LLC raised its position in Sportsman’s Warehouse by 61.8% in the first quarter. Cannell Capital LLC now owns 2,589,973 shares of the company’s stock worth $27,687,000 after acquiring an additional 989,565 shares during the period. Alberta Investment Management Corp boosted its stake in Sportsman’s Warehouse by 224.6% in the fourth quarter. Alberta Investment Management Corp now owns 1,087,125 shares of the company’s stock valued at $12,828,000 after acquiring an additional 752,200 shares during the last quarter. Finally, Stephens Investment Management Group LLC bought a new position in shares of Sportsman’s Warehouse during the 1st quarter valued at approximately $6,466,000.

About Sportsman’s Warehouse (Get Rating)

Sportsman's Warehouse Holdings, Inc, together with its subsidiaries, operates as an outdoor sporting goods retailer in the United States. It offers camping products, such as backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents, and tools; and apparel products, including camouflage, jackets, hats, outerwear, sportswear, technical gear, and work wear.

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