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Sportsman's Warehouse and Walmart have been highlighted as Zacks Bull and Bear of the Day
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For Immediate Release
Chicago, IL – May 23, 2022 – Zacks Equity Research shares Sportsman's Warehouse (SPWH - Free Report) as the Bull of the Day and Walmart (WMT - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Ryder System, Inc. (R - Free Report) , Ryan Specialty Group Holdings, Inc. (RYAN - Free Report) and O-I Glass, Inc. (OI - Free Report) .
Sportsman's Warehouse is a Zacks Rank #1 (Strong Buy) that operates as an outdoor sporting goods retailer. The company offers hunting and shooting products, as well as clothing, footwear optics, electronics, and other accessories.
The stock has been one of the biggest victims of the recent market sell off, falling 50% from its 2021 highs. Half that sell-off had to do with a cancelled merger with The Great Outdoors. The other half has been market sympathy and margins fears in retail.
However, the company is seeing estimates tick higher as of late. With earnings coming up at the end of the month, the stock is looking oversold into a quarter that analysts are hiking their numbers.
More About SPWH
The company was founded in 1986 and is headquartered in West Jordan, Utah. It employs 3,000 people and has a market cap of $400 million. As of April 27, 2022, the company operated through 125 stores.
The stock has a Zacks Style Score of "A" in Valuation due to a low Forward PE of 6. However, the stock sports a score of "D" in Growth and "F" in Momentum.
Merger Deal Breaks Down
SPWH was trading at $18 for almost all of 2021 as the company was in a merger agreement with Great Outdoors Group. This is the firm that owns Bass Pro Shops and the FTC gave the companies feedback that they would block the deal. For this reason, the companies backed away from the merger, which caused the stock to fall to $12.
Earnings and Estimates
When you look past the merger, the company has had some mixed results over the last few years. During the pandemic, sales went through the roof and the SPWH saw multiple quarters when they beat on EPS by triple digit percentages.
But like most companies that thrived during COVID, things slowed down and the last two quarters of 2021 saw EPS misses.
In late march, Sportsman's Warehouse turned things around with a 6% EPS beat. Not a great quarter, but with many retailers missing numbers, this was a pleasant surprise.
Looking at estimates, analysts are taking their numbers higher over the last 60 days. For next quarter, we see a tick higher from $0.32 to $0.37, or 15%. For the current year, estimates have gone up 23% over the same timeframes.
Some analysts are citing Sportsman Warehouse's ability to take market share as a catalyst. B. Riley FBR has a $14 price target on that idea and sees SPWH's adaptive expansion strategy allowing the company to penetrate both smaller and larger markets.
The Technical Take
The stock has acted like many stocks did in 2022 and simply bled lower. After the merger fell apart, the stock fell to trade in the $11-12 range. As of this writing, it trades about 20% lower at $9 a share.
In a market so bearish, there is no need to rush in and buy this stock. While there is clearly a fundamental long-term bull story here, investors should look for levels of support where they can buy the stock.
The stock is trying to hold that $9 level. The $9-10 range was the trading range back in 2017 and an area to watch. However, if we get further market weakness, look for the stock to fall to the $7.50 area. This was the resistance from 2018-2020 and should see some long-term support.
In Summary
While markets are under pressure, investors should be patient with their long-term ideas. While SPWH is a great idea at current levels for longer-term investors, those on the shorter time frame should wait for technical support to hold.
Look for the stock to continue to struggle through the current environment, but then watch for investors to shift bullish into the end of the year.
Walmart is a Zacks Rank #5 (Strong Sell) that is the popular retail giant known for low prices. The company engages in retail and wholesale, but over the years has evolved its online business and branched into other areas of retail through acquisitions.
The stock did very well during the pandemic, moving from the $120 level to a high of $160 earlier this year. However, a recent earnings miss showed that inflationary costs are eating into the bottom line. The stock is now trading below that $120 mark and investors are wondering where to buy this big down move.
About the Company
Walmart is headquartered in Bentonville, Arkansas and employs almost over 2 million people. The company was founded in 1945 and has grown to operate supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, and ecommerce websites.
The company offers grocery and consumables, which includes dairy, meat, bakery, deli, produce, dry, chilled or frozen packaged foods, alcoholic and nonalcoholic beverages, floral, snack foods, candy, other grocery items, health and beauty aids, paper goods, laundry and home care, baby care, pet supplies, and other consumable items; and health and wellness products covering pharmacy, over-the-counter drugs and other medical products, and optical and hearing services.
The stock has a Zacks Style Scores of "A" in both Growth and Momentum, while sporting a "C" in Value.
Q1 Earnings and Estimates
Walmart reported earnings on May 17th, seeing an 11% miss in EPS. Revenues came in above expectations, showing that sales are not the issue. The big miss had to do with costs that ate in to the bottom line and made Walmart much less profitable than it has been in the past.
Looking closer at the quarter, e-commerce grew at 1%, SSS were up 3% and FCF was down $7.3B v up $0.6B year over year.
Management blamed inflationary costs of food and fuel for the pressures on margins this quarter. The company plans to adjust to the environment to deliver profit and growth for the future.
The company guided Q2 EPS "flat to up slightly" and revenues up 5%. So for the short-term, the company is expecting the problems to persist.
Estimates
Analysts are taking their numbers down due to the earnings miss and margin fear. Over the last 7 days, numbers have fallen across all time frames. For the current quarter, estimates have ticked down from $1.90 to $1.82, or 4%. For the current year, estimates have fallen to $6.46 from $6.75, again 4%.
Walmart's stock saw one of the biggest losses in its history, falling from $150 to $120 after earnings. This brings the stock down to levels not seen stocks rallied after the COVID lows.
Buying this earnings dip might be a little early, as management thinks its cost issue will remain. Investors should be watching that low from March of 2020 around $102 as a possible entry point. If the stock takes out those lows and holds the $100 area, this is likely the time to buy.
This possible move lower is over 15% from current levels. So investors can likely sit back and wait as the bears take Walmart down to lower prices.
In Summary
At some point Walmart will be a great long-term buy for investors. But for now, money might be better off spent somewhere else in retail.
Additional content:
3 Buy-Ranked Stocks that Popped Last Week
It is still earnings season. So in normal circumstances, this would mean that some companies would report above expectations, analysts would raise their estimates on these stocks and more investors would pile into them. This is a pattern we've seen time and again, and it doesn't often go any other way.
Except this year. And the recent years actually, since the pandemic hit. Because things just aren't moving as they should.
The overall picture is clear enough. We had a pandemic induced slump followed by an immediate bounce-back and then a gradual recovery, meaning difficult comps and slowing growth.
But the recovery seems to be dragging on forever, as a whole range of other issues enter the scene. Inflation is the hottest topic of all and the Fed is determined to do what it takes to get that down. Clearly, we've had enough free money and now it's time to pay the piper.
So investors aren't responding as you'd normally expect to strong results. They're looking at overall prospects much more these days. And that's why the three stocks I've picked here aren't necessarily earnings stories. Although of course there's that angle too, and the relates estimate revisions trend:
Ryder System, Inc.
Miami, Florida-based Ryder System is a logistics and transportation company with global operations. Its fleet management services include leasing, supplies, vehicle maintenance and rental, used vehicle sales, fuel planning and management, tax reporting, etc.
Its supply chain solutions include distribution management services like coordinated warehousing and just-in-time component replenishment, as well as transportation management services like shipment optimization, load scheduling, delivery confirmation, etc.
It also offers e-commerce and last mile services. Apart from this, it also offers some dedicated transportation services including equipment, maintenance, drivers, administrative, and additional services, etc.
While the 14.6% increase in Ryder share prices over the past week is related to its unsolicited takeover offer from private equity firm HG Vora Capital Management, which offered a 20% premium to its closing share price on Thursday, this is a solid bet even if the deal falls through.
That's because this Zacks Rank #1 (Strong Buy) stock with Value, Growth and Momentum scores of A, B and C, respectively has reported solid results of late, which along with the estimate revisions trend, indicates very strong growth potential for the company.
Ryder also belongs to the Transportation - Equipment and Leasing industry, which is in the top 28% of 250+ Zacks-ranked industries. And our analysis of historical periods tells us that a company with a buy rank and belonging to the top 50% of industries stands a good chance of seeing its share price appreciate.
As far as the numbers are concerned, Ryder topped revenue and earnings estimates by a respective 10.7% and 50.8%. Its average surprise in the last four quarters is 48.2%. The Zacks Consensus Estimate for 2022 is up $1.79 (15.3%) in the last 30 days. Revenue and earnings are expected to grow 18.5% and 40.8% this year.
Ryan Specialty Group Holdings, Inc.
Chicago-based Ryan Specialty Group is a service provider of specialty products and solutions for insurance brokers, agents and carriers. It offers distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter.
The Zacks Rank #2 (Buy) stock with Value, Growth and Momentum Scores of D, A and C, respectively is up 10.4% in the past week. It belongs to the Insurance – Brokerage industry (top 33%).
In the recently announced earnings report, Ryan Specialty posted an earnings beat of 14.3% on sales that beat by 3.9%. Market expansion, innovative solutions and efficient client servicing allowed the company to deliver 20% organic growth while maintaining solid margins and continuing to invest in enhancement of the Ryan Specialty platform. Hiring activity also remains strong as it continues to build its broker team.
In response to the strong results, analysts have also raised their estimates. The 2022 estimate is now up 3 cents (2.5%). Analysts currently expect revenue and earnings growth of 19.0% and 13.0%, respectively.
O-I Glass, Inc.
Perrysburg, Ohio-based O-I Glass manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe and the Asia Pacific. Other than the alcoholic beverage market where its glass containers are used for bottling beer, flavored malt beverages, spirits and wine, they are used for packaging various food items like soft drinks, tea, juices, and also pharmaceuticals.
It also offers other glass containers in a range of sizes, shapes and colors. Products are sold directly to customers under annual or multi-year supply agreements, as well as through distributors.
O-I Glass is in the process of exiting non-core businesses and optimizing its asset base. In the recent past, the company completed the sale and lease back of its Brampton, Ontario plant for CAD $244 million. The company announced that it had already generated $1.3 billion of its $1.5 billion targeted proceeds by 2024 and was therefore likely to hit the target by year end, two years ahead of schedule. This announcement has sent its shares up 11.0% in the past week.
Earlier, the company also reported very strong results with sales growing 12.8% to beat the Zacks Consensus Estimate by 9.7%. Earnings grew 60% to beat the consensus by 36.6%. Analysts responded as expected, raising their 2022 estimates by 13 cents (6.8%). They currently expect revenue and earnings growth of 5.4% and 11.5%, respectively.
The Zacks Rank #2 stock with Value, Growth and Momentum Scores of A, C and D, respectively belongs to the Glass Products industry (top 17%).
Why Haven't You Looked at Zacks' Top Stocks?
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Sportsman's Warehouse and Walmart have been highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – May 23, 2022 – Zacks Equity Research shares Sportsman's Warehouse (SPWH - Free Report) as the Bull of the Day and Walmart (WMT - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Ryder System, Inc. (R - Free Report) , Ryan Specialty Group Holdings, Inc. (RYAN - Free Report) and O-I Glass, Inc. (OI - Free Report) .
Here is a synopsis of all five stocks:
Bull of the Day:
Sportsman's Warehouse is a Zacks Rank #1 (Strong Buy) that operates as an outdoor sporting goods retailer. The company offers hunting and shooting products, as well as clothing, footwear optics, electronics, and other accessories.
The stock has been one of the biggest victims of the recent market sell off, falling 50% from its 2021 highs. Half that sell-off had to do with a cancelled merger with The Great Outdoors. The other half has been market sympathy and margins fears in retail.
However, the company is seeing estimates tick higher as of late. With earnings coming up at the end of the month, the stock is looking oversold into a quarter that analysts are hiking their numbers.
More About SPWH
The company was founded in 1986 and is headquartered in West Jordan, Utah. It employs 3,000 people and has a market cap of $400 million. As of April 27, 2022, the company operated through 125 stores.
The stock has a Zacks Style Score of "A" in Valuation due to a low Forward PE of 6. However, the stock sports a score of "D" in Growth and "F" in Momentum.
Merger Deal Breaks Down
SPWH was trading at $18 for almost all of 2021 as the company was in a merger agreement with Great Outdoors Group. This is the firm that owns Bass Pro Shops and the FTC gave the companies feedback that they would block the deal. For this reason, the companies backed away from the merger, which caused the stock to fall to $12.
Earnings and Estimates
When you look past the merger, the company has had some mixed results over the last few years. During the pandemic, sales went through the roof and the SPWH saw multiple quarters when they beat on EPS by triple digit percentages.
But like most companies that thrived during COVID, things slowed down and the last two quarters of 2021 saw EPS misses.
In late march, Sportsman's Warehouse turned things around with a 6% EPS beat. Not a great quarter, but with many retailers missing numbers, this was a pleasant surprise.
Sportsman's Warehouse Holdings, Inc. price-eps-surprise | Sportsman's Warehouse Holdings, Inc. Quote
Looking at estimates, analysts are taking their numbers higher over the last 60 days. For next quarter, we see a tick higher from $0.32 to $0.37, or 15%. For the current year, estimates have gone up 23% over the same timeframes.
Some analysts are citing Sportsman Warehouse's ability to take market share as a catalyst. B. Riley FBR has a $14 price target on that idea and sees SPWH's adaptive expansion strategy allowing the company to penetrate both smaller and larger markets.
The Technical Take
The stock has acted like many stocks did in 2022 and simply bled lower. After the merger fell apart, the stock fell to trade in the $11-12 range. As of this writing, it trades about 20% lower at $9 a share.
In a market so bearish, there is no need to rush in and buy this stock. While there is clearly a fundamental long-term bull story here, investors should look for levels of support where they can buy the stock.
The stock is trying to hold that $9 level. The $9-10 range was the trading range back in 2017 and an area to watch. However, if we get further market weakness, look for the stock to fall to the $7.50 area. This was the resistance from 2018-2020 and should see some long-term support.
In Summary
While markets are under pressure, investors should be patient with their long-term ideas. While SPWH is a great idea at current levels for longer-term investors, those on the shorter time frame should wait for technical support to hold.
Look for the stock to continue to struggle through the current environment, but then watch for investors to shift bullish into the end of the year.
Bear of the Day:
Walmart is a Zacks Rank #5 (Strong Sell) that is the popular retail giant known for low prices. The company engages in retail and wholesale, but over the years has evolved its online business and branched into other areas of retail through acquisitions.
The stock did very well during the pandemic, moving from the $120 level to a high of $160 earlier this year. However, a recent earnings miss showed that inflationary costs are eating into the bottom line. The stock is now trading below that $120 mark and investors are wondering where to buy this big down move.
About the Company
Walmart is headquartered in Bentonville, Arkansas and employs almost over 2 million people. The company was founded in 1945 and has grown to operate supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, and ecommerce websites.
The company offers grocery and consumables, which includes dairy, meat, bakery, deli, produce, dry, chilled or frozen packaged foods, alcoholic and nonalcoholic beverages, floral, snack foods, candy, other grocery items, health and beauty aids, paper goods, laundry and home care, baby care, pet supplies, and other consumable items; and health and wellness products covering pharmacy, over-the-counter drugs and other medical products, and optical and hearing services.
The stock has a Zacks Style Scores of "A" in both Growth and Momentum, while sporting a "C" in Value.
Q1 Earnings and Estimates
Walmart reported earnings on May 17th, seeing an 11% miss in EPS. Revenues came in above expectations, showing that sales are not the issue. The big miss had to do with costs that ate in to the bottom line and made Walmart much less profitable than it has been in the past.
Looking closer at the quarter, e-commerce grew at 1%, SSS were up 3% and FCF was down $7.3B v up $0.6B year over year.
Management blamed inflationary costs of food and fuel for the pressures on margins this quarter. The company plans to adjust to the environment to deliver profit and growth for the future.
The company guided Q2 EPS "flat to up slightly" and revenues up 5%. So for the short-term, the company is expecting the problems to persist.
Estimates
Analysts are taking their numbers down due to the earnings miss and margin fear. Over the last 7 days, numbers have fallen across all time frames. For the current quarter, estimates have ticked down from $1.90 to $1.82, or 4%. For the current year, estimates have fallen to $6.46 from $6.75, again 4%.
Walmart Inc. price-consensus-chart | Walmart Inc. Quote
Technical Take
Walmart's stock saw one of the biggest losses in its history, falling from $150 to $120 after earnings. This brings the stock down to levels not seen stocks rallied after the COVID lows.
Buying this earnings dip might be a little early, as management thinks its cost issue will remain. Investors should be watching that low from March of 2020 around $102 as a possible entry point. If the stock takes out those lows and holds the $100 area, this is likely the time to buy.
This possible move lower is over 15% from current levels. So investors can likely sit back and wait as the bears take Walmart down to lower prices.
In Summary
At some point Walmart will be a great long-term buy for investors. But for now, money might be better off spent somewhere else in retail.
Additional content:
3 Buy-Ranked Stocks that Popped Last Week
It is still earnings season. So in normal circumstances, this would mean that some companies would report above expectations, analysts would raise their estimates on these stocks and more investors would pile into them. This is a pattern we've seen time and again, and it doesn't often go any other way.
Except this year. And the recent years actually, since the pandemic hit. Because things just aren't moving as they should.
The overall picture is clear enough. We had a pandemic induced slump followed by an immediate bounce-back and then a gradual recovery, meaning difficult comps and slowing growth.
But the recovery seems to be dragging on forever, as a whole range of other issues enter the scene. Inflation is the hottest topic of all and the Fed is determined to do what it takes to get that down. Clearly, we've had enough free money and now it's time to pay the piper.
So investors aren't responding as you'd normally expect to strong results. They're looking at overall prospects much more these days. And that's why the three stocks I've picked here aren't necessarily earnings stories. Although of course there's that angle too, and the relates estimate revisions trend:
Ryder System, Inc.
Miami, Florida-based Ryder System is a logistics and transportation company with global operations. Its fleet management services include leasing, supplies, vehicle maintenance and rental, used vehicle sales, fuel planning and management, tax reporting, etc.
Its supply chain solutions include distribution management services like coordinated warehousing and just-in-time component replenishment, as well as transportation management services like shipment optimization, load scheduling, delivery confirmation, etc.
It also offers e-commerce and last mile services. Apart from this, it also offers some dedicated transportation services including equipment, maintenance, drivers, administrative, and additional services, etc.
While the 14.6% increase in Ryder share prices over the past week is related to its unsolicited takeover offer from private equity firm HG Vora Capital Management, which offered a 20% premium to its closing share price on Thursday, this is a solid bet even if the deal falls through.
That's because this Zacks Rank #1 (Strong Buy) stock with Value, Growth and Momentum scores of A, B and C, respectively has reported solid results of late, which along with the estimate revisions trend, indicates very strong growth potential for the company.
Ryder also belongs to the Transportation - Equipment and Leasing industry, which is in the top 28% of 250+ Zacks-ranked industries. And our analysis of historical periods tells us that a company with a buy rank and belonging to the top 50% of industries stands a good chance of seeing its share price appreciate.
As far as the numbers are concerned, Ryder topped revenue and earnings estimates by a respective 10.7% and 50.8%. Its average surprise in the last four quarters is 48.2%. The Zacks Consensus Estimate for 2022 is up $1.79 (15.3%) in the last 30 days. Revenue and earnings are expected to grow 18.5% and 40.8% this year.
Ryan Specialty Group Holdings, Inc.
Chicago-based Ryan Specialty Group is a service provider of specialty products and solutions for insurance brokers, agents and carriers. It offers distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter.
The Zacks Rank #2 (Buy) stock with Value, Growth and Momentum Scores of D, A and C, respectively is up 10.4% in the past week. It belongs to the Insurance – Brokerage industry (top 33%).
In the recently announced earnings report, Ryan Specialty posted an earnings beat of 14.3% on sales that beat by 3.9%. Market expansion, innovative solutions and efficient client servicing allowed the company to deliver 20% organic growth while maintaining solid margins and continuing to invest in enhancement of the Ryan Specialty platform. Hiring activity also remains strong as it continues to build its broker team.
In response to the strong results, analysts have also raised their estimates. The 2022 estimate is now up 3 cents (2.5%). Analysts currently expect revenue and earnings growth of 19.0% and 13.0%, respectively.
O-I Glass, Inc.
Perrysburg, Ohio-based O-I Glass manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe and the Asia Pacific. Other than the alcoholic beverage market where its glass containers are used for bottling beer, flavored malt beverages, spirits and wine, they are used for packaging various food items like soft drinks, tea, juices, and also pharmaceuticals.
It also offers other glass containers in a range of sizes, shapes and colors. Products are sold directly to customers under annual or multi-year supply agreements, as well as through distributors.
O-I Glass is in the process of exiting non-core businesses and optimizing its asset base. In the recent past, the company completed the sale and lease back of its Brampton, Ontario plant for CAD $244 million. The company announced that it had already generated $1.3 billion of its $1.5 billion targeted proceeds by 2024 and was therefore likely to hit the target by year end, two years ahead of schedule. This announcement has sent its shares up 11.0% in the past week.
Earlier, the company also reported very strong results with sales growing 12.8% to beat the Zacks Consensus Estimate by 9.7%. Earnings grew 60% to beat the consensus by 36.6%. Analysts responded as expected, raising their 2022 estimates by 13 cents (6.8%). They currently expect revenue and earnings growth of 5.4% and 11.5%, respectively.
The Zacks Rank #2 stock with Value, Growth and Momentum Scores of A, C and D, respectively belongs to the Glass Products industry (top 17%).
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.