Big 5 Sporting Goods falls 7% on analyst downgrade, lower price target
Big 5 Sporting Goods Corporation (Nasdaq:BGFV) is more than 7% lower today after analysts at Deutsche Securities downgraded the sporting goods retailer to “sell” from “hold.” The research firm also lowered its price target to $6 from $7. Shares of the El Segundo, Calif.-based company have ranged from $6.50 to $25.31 during the past year. Low consumer spending due to softness in the economy has impacted Big 5; shares are down more than 51% since January. In today’s trading, shares of Big 5 are down $0.53 at $6.93.
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