Zacks Research Downgrades Sportsman’s Warehouse (NASDAQ:SPWH) to Hold

Sportsman’s Warehouse (NASDAQ:SPWH) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on SPWH. Wall Street Zen raised Sportsman’s Warehouse from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings upgraded Sportsman’s Warehouse from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.58.

Sportsman’s Warehouse Price Performance

Shares of SPWH opened at $1.18 on Thursday. The company has a quick ratio of 0.07, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. Sportsman’s Warehouse has a twelve month low of $1.08 and a twelve month high of $3.68. The stock has a market capitalization of $46.04 million, a P/E ratio of -0.91 and a beta of 0.42. The company has a 50 day moving average of $1.24 and a 200-day moving average of $1.32.

Sportsman’s Warehouse (NASDAQ:SPWH) last announced its earnings results on Tuesday, June 2nd. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.19. The business had revenue of $256.08 million during the quarter, compared to analysts’ expectations of $252.30 million. Sportsman’s Warehouse had a negative net margin of 4.17% and a negative return on equity of 10.68%. During the same quarter in the prior year, the company posted ($0.56) earnings per share. As a group, equities research analysts forecast that Sportsman’s Warehouse will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Sportsman’s Warehouse

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Sportsman’s Warehouse by 245.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,082,777 shares of the company’s stock worth $3,736,000 after buying an additional 769,051 shares during the period. Union Square Park Capital Management LLC lifted its position in Sportsman’s Warehouse by 33.5% during the fourth quarter. Union Square Park Capital Management LLC now owns 2,378,681 shares of the company’s stock worth $3,473,000 after acquiring an additional 596,658 shares during the last quarter. Archon Capital Management LLC lifted its position in Sportsman’s Warehouse by 51.6% during the fourth quarter. Archon Capital Management LLC now owns 1,668,905 shares of the company’s stock worth $2,437,000 after acquiring an additional 568,151 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of Sportsman’s Warehouse during the fourth quarter worth approximately $819,000. Finally, JPMorgan Chase & Co. grew its position in shares of Sportsman’s Warehouse by 123.4% in the second quarter. JPMorgan Chase & Co. now owns 744,496 shares of the company’s stock valued at $2,569,000 after purchasing an additional 411,295 shares during the last quarter. Institutional investors own 83.04% of the company’s stock.

About Sportsman’s Warehouse

Sportsman’s Warehouse, Inc (NASDAQ: SPWH) operates as a specialty retailer of hunting, shooting, fishing, camping and related outdoor sports equipment in the United States. The company’s brick-and-mortar footprint comprises over 100 retail locations across more than 20 states, complemented by an e-commerce platform that serves anglers and outdoorsmen nationwide. By focusing on core outdoor activities, Sportsman’s Warehouse delivers a comprehensive shopping experience for enthusiasts of all skill levels.

The retailer’s product assortment includes firearms and ammunition, archery gear, fishing tackle and boats, camping supplies, outdoor apparel and footwear, water sports equipment and pet supplies.