Big 5 Sporting price target lowered to $4.50 from $5.50 at Lake Street

Lake Street lowered the firm’s price target on Big 5 Sporting to $4.50 from $5.50 and keeps a Hold rating on the shares after the company pre-announced fourth quarter results that missed the firm’s expectations. Same-store sales declined (17.7%), versus the firm’s (12.0%) estimate and below management’s guidance of a high single-digit to low double-digit decline, leading to a top line miss, the analyst noted.