Piper Jaffray Cos. restated their neutral rating on shares of Cabela’s (NYSE:CAB) in a research note issued to investors on Wednesday, ARN reports. The firm currently has a $69.00 price target on the stock, down from their previous price target of $73.00.
“We are reducing our Q2 revenue estimates due to slowing NICS checks, unfavorable weather and Q2 product mix. However, we are maintaining our Q2 EPS of $0.60 as merchandise margin should benefit from the normalizing mix and the company has sufficient expense levers to deliver strong EPS growth this quarter, in our opinion. Longer-term, we are taking a cautious view of the hunt/fish industry as our analysis of public and private retailers indicates most are growing their store base at a low double-digit rate, a rate we do not believe is sustainable on an industrywide basis given hunting and fishing participation rates have been in a 30-year decline. As such, we believe the hunt/fish industry could become over-stored, thus potentially compromising productivity and profitability.,” the firm’s analyst commented.
Cabela’s (NYSE: CAB) opened at 67.75 on Wednesday. Cabela’s has a 1-year low of $38.44 and a 1-year high of $72.54. The stock’s 50-day moving average is currently $67.09. The company has a market cap of $4.772 billion and a price-to-earnings ratio of 24.93.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated an outperform rating on shares of Cabela’s in a research note to investors on Wednesday, May 29th. They now have a $74.00 price target on the stock. Separately, analysts at Thomson Reuters/Verus upgraded shares of Cabela’s from a hold rating to a buy rating in a research note to investors on Tuesday, May 28th. Finally, analysts at Feltl & Co. cut their price target on shares of Cabela’s from $67.00 to $61.00 in a research note to investors on Thursday, April 25th. They now have a hold rating on the stock.
Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $68.50.
Cabela’s Incorporated is a specialty retailer, and direct marketer, of hunting, fishing, camping, and related outdoor merchandise.