Lake Street Capital Cuts Sportsman’s Warehouse (NASDAQ:SPWH) Price Target to $3.00

Sportsman’s Warehouse (NASDAQ:SPWH) had its price target decreased by investment analysts at Lake Street Capital from $5.00 to $3.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price target indicates a potential upside of 25.52% from the company’s current price.

A number of other brokerages have also weighed in on SPWH. Robert W. Baird reduced their price objective on Sportsman’s Warehouse from $4.00 to $2.50 and set a “neutral” rating on the stock in a research report on Wednesday. Roth Mkm started coverage on Sportsman’s Warehouse in a research note on Monday, June 3rd. They issued a “buy” rating and a $5.00 price objective for the company. Roth Capital upgraded shares of Sportsman’s Warehouse to a “strong-buy” rating in a report on Monday, June 3rd. Finally, Craig Hallum reduced their target price on shares of Sportsman’s Warehouse from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.10.

Sportsman’s Warehouse Trading Up 7.2 %

Shares of Sportsman’s Warehouse stock opened at $2.39 on Wednesday. The firm’s 50 day moving average is $2.23 and its 200 day moving average is $2.89. The firm has a market capitalization of $90.22 million, a PE ratio of -2.85 and a beta of 0.69. Sportsman’s Warehouse has a 1 year low of $1.81 and a 1 year high of $5.55.

Sportsman’s Warehouse (NASDAQ:SPWH) last posted its earnings results on Tuesday, June 4th. The company reported ($0.47) earnings per share 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 company had revenue of $244.24 million for the quarter, compared to the consensus estimate of $248.36 million. During the same period in the previous year, the firm posted ($0.39) EPS. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, research analysts anticipate that Sportsman’s Warehouse will post -0.24 earnings per share for the current year.

Insider Activity at Sportsman’s Warehouse

In other news, Director Steven W. Sansom purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $2.91 per share, for a total transaction of $29,100.00. Following the transaction, the director now owns 90,000 shares of the company’s stock, valued at $261,900. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sportsman’s Warehouse

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in Sportsman’s Warehouse during the 4th quarter worth about $2,488,000. Cubist Systematic Strategies LLC acquired a new stake in Sportsman’s Warehouse during the second quarter worth approximately $384,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in 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 worth $2,316,000 after purchasing an additional 121,731 shares in the last quarter. CastleKnight Management LP acquired a new position in Sportsman’s Warehouse in the fourth quarter valued at approximately $384,000. Finally, Fund 1 Investments LLC bought a new position in shares of Sportsman’s Warehouse during the 4th quarter worth approximately $375,000. 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.