Sportsman’s Warehouse (NASDAQ:SPWH) Price Target Cut to $2.50 by Analysts at Robert W. Baird

Sportsman’s Warehouse (NASDAQ:SPWH) had its target price trimmed by Robert W. Baird from $4.00 to $2.50 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also commented on SPWH. Roth Mkm started coverage on shares of Sportsman’s Warehouse in a research note on Monday, June 3rd. They issued a buy rating and a $5.00 price target on the stock. Lake Street Capital reduced their price objective on shares of Sportsman’s Warehouse from $6.00 to $5.00 and set a buy rating on the stock in a research note on Wednesday, June 5th. Roth Capital upgraded shares of Sportsman’s Warehouse to a strong-buy rating in a research report on Monday, June 3rd. Finally, Craig Hallum reduced their price target on shares of Sportsman’s Warehouse from $5.00 to $4.00 and set a hold rating on the stock in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $3.10.

Sportsman’s Warehouse Price Performance

Shares of NASDAQ SPWH opened at $2.23 on Wednesday. The business has a 50-day moving average of $2.23 and a 200-day moving average of $2.89. The stock has a market capitalization of $84.18 million, a price-to-earnings ratio of -2.65 and a beta of 0.69. Sportsman’s Warehouse has a fifty-two week low of $1.81 and a fifty-two week high of $5.55.

Sportsman’s Warehouse (NASDAQ:SPWH) last posted its quarterly earnings results on Tuesday, June 4th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). Sportsman’s Warehouse had a negative return on equity of 10.25% and a negative net margin of 2.48%. The business had revenue of $244.24 million for the quarter, compared to the consensus estimate of $248.36 million. During the same quarter in the previous year, the business posted ($0.39) EPS. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, sell-side analysts expect that Sportsman’s Warehouse will post -0.24 EPS for the current year.

Insider Activity

In related news, Director Steven W. Sansom acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average cost of $2.91 per share, for a total transaction of $29,100.00. Following the transaction, the director now directly owns 90,000 shares in the company, valued at $261,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sportsman’s Warehouse

Several hedge funds have recently modified their holdings of SPWH. Vanguard Group Inc. raised its stake in shares of Sportsman’s Warehouse by 1.8% during the first quarter. Vanguard Group Inc. now owns 1,926,372 shares of the company’s stock valued at $5,991,000 after acquiring an additional 33,976 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Sportsman’s Warehouse by 2.5% in the 1st quarter. Gabelli Funds LLC now owns 1,257,829 shares of the company’s stock valued at $3,912,000 after buying an additional 31,000 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Sportsman’s Warehouse by 19.5% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 744,738 shares of the company’s stock valued at $2,316,000 after buying an additional 121,731 shares during the period. GSA Capital Partners LLP bought a new position in shares of Sportsman’s Warehouse during the fourth quarter worth about $2,488,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Sportsman’s Warehouse by 3.0% in the first quarter. Gamco Investors INC. ET AL now owns 517,325 shares of the company’s stock worth $1,609,000 after acquiring an additional 15,200 shares during the period. Institutional investors and hedge funds own 83.04% of the company’s stock.

About Sportsman’s Warehouse

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.