Cabela’s Inc. (CAB) Downgraded to “Neutral” at MKM Partners
Cabela’s Inc. (NYSE:CAB) was downgraded by MKM Partners from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research upgraded Cabela’s from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Tuesday, July 19th. Vetr upgraded Cabela’s from a “hold” rating to a “buy” rating and set a $51.80 price objective for the company in a research note on Tuesday, June 14th. Barclays PLC downgraded Cabela’s from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $50.00 to $64.00 in a research note on Tuesday. Credit Suisse Group AG restated a “hold” rating and issued a $38.00 price objective on shares of Cabela’s in a research note on Tuesday, July 26th. Finally, Feltl & Co. downgraded Cabela’s from a “buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company’s stock. Cabela’s has an average rating of “Hold” and an average price target of $49.44.
Cabela’s (NYSE:CAB) traded up 0.21% on Tuesday, reaching $63.31. The company had a trading volume of 1,771,160 shares. Cabela’s has a 12-month low of $33.03 and a 12-month high of $63.36. The stock’s 50-day moving average price is $50.55 and its 200-day moving average price is $50.36. The stock has a market capitalization of $4.33 billion, a P/E ratio of 24.01 and a beta of 0.96.
Cabela’s (NYSE:CAB) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by $0.03. The company earned $929.90 million during the quarter, compared to analysts’ expectations of $905.42 million. Cabela’s had a net margin of 4.44% and a return on equity of 11.16%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 earnings per share. On average, equities research analysts anticipate that Cabela’s will post $3.17 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of CAB. Elliott Management Corp increased its position in shares of Cabela’s by 45.2% in the first quarter. Elliott Management Corp now owns 6,046,496 shares of the company’s stock valued at $294,404,000 after buying an additional 1,881,496 shares in the last quarter. Pentwater Capital Management LP acquired a new stake in Cabela’s during the second quarter valued at $31,037,000. Governors Lane LP acquired a new stake in Cabela’s during the second quarter valued at $8,560,000. Emerald Acquisition Ltd. acquired a new stake in Cabela’s during the second quarter valued at $8,102,000. Finally, Highbridge Capital Management LLC acquired a new stake in Cabela’s during the second quarter valued at $6,764,000. Institutional investors and hedge funds own 71.37% of the company’s stock.
Cabela’s Incorporated is a specialty retailer and a direct marketer of hunting, fishing, camping and related outdoor merchandise. The Company offers national and regional brand products, including its Cabela’s brand. The Company’s segments include Retail, Direct, Financial Services, and Corporate Overhead and Other.
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