Cabelas Inc (CAB) is Downgraded by Barclays to Equal Weight, Raises Price Target to $ 64

Cabelas Inc (CAB) was Downgraded by Barclays to ” Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 64 from a previous price target of $50 . Earlier the firm had a rating of “Overweight ” on the company shares. Barclays advised their investors in a research report released on Oct 4, 2016.

On the company’s financial health, Cabelas Inc reported $0.59 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.62. The company had revenue of $929.90 million for the quarter, compared to analysts expectations of $905.15 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Cabelas Inc opened for trading at $53.7 and hit $55.07 on the upside on Friday, eventually ending the session at $54.93, with a gain of 2.58% or 1.38 points. The heightened volatility saw the trading volume jump to 15,32,282 shares. Company has a market cap of $3,761 M.

In a different news, on Aug 21, 2015, Donna M Milrod (director) purchased 575 shares at $43.64 per share price. According to the SEC, on Apr 29, 2015, James F Wright (director) purchased 3,000 shares at $54.02 per share price.

Cabela’s Incorporated is a specialty retailer and a direct marketer of hunting fishing camping and related outdoor merchandise. The Company operates under the following segments: Retail Direct Financial Services and Corporate Overhead and Other. The Retail Business segment enables customers to access and use its retail stores Web and social media channels and catalogs. The Direct Business segment sells products through its e-commerce Websites and direct mail catalogs. The Financial Services Business segment provides customers with a rewards program. The Company’s products include merchandise and equipment for hunting fishing marine use and camping along with casual and outdoor apparel and footwear optics wildlife and land management products and services vehicle accessories and gifts and home furnishings among others.

Cabelas Inc

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