Needham & Company Maintains a 'Strong Buy' on Sport Chalet (SPCHA); 'Non-Winter Winter' Leaves Q4 Short; Q1 Looks Improved
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Price: $1.19 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Needham & Company maintains a 'Strong Buy' on Sport Chalet (NASDAQ: SPCHA) price target of $5.00.
Analyst, Sean McGowan, said, "SPCH reported 4Q ’12 sales and EPS below our expectations...Management blamed the disappointment on a historically warm and dry winter. Gross margins were 550 bps lower than we anticipated (23.9% vs. 29.4%) due to the decrease in sales as well as a lack of high-margin winter equipment rentals and repairs. 4Q EPS were a loss of $0.27 versus our estimate of a loss of $0.10. Management was optimistic about initial 1Q results (SSS up 2.8% for the 9 weeks ended June 3, 2012) as well as the planned opening of a store in Los Angeles in May 2013, its first new store since 2008."
FY13 EPS estimate cut from $0.40 to $0.30 and FY14 from $0.65 to $0.55.
For an analyst ratings summary and ratings history on Sport Chalet click here. For more ratings news on Sport Chalet click here.
Shares of Sport Chalet closed at $1.28 yesterday.
Analyst, Sean McGowan, said, "SPCH reported 4Q ’12 sales and EPS below our expectations...Management blamed the disappointment on a historically warm and dry winter. Gross margins were 550 bps lower than we anticipated (23.9% vs. 29.4%) due to the decrease in sales as well as a lack of high-margin winter equipment rentals and repairs. 4Q EPS were a loss of $0.27 versus our estimate of a loss of $0.10. Management was optimistic about initial 1Q results (SSS up 2.8% for the 9 weeks ended June 3, 2012) as well as the planned opening of a store in Los Angeles in May 2013, its first new store since 2008."
FY13 EPS estimate cut from $0.40 to $0.30 and FY14 from $0.65 to $0.55.
For an analyst ratings summary and ratings history on Sport Chalet click here. For more ratings news on Sport Chalet click here.
Shares of Sport Chalet closed at $1.28 yesterday.
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