Dick’s Sporting Goods Inc. (DKS) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Dick’s Sporting Goods Inc. (NYSE:DKS) from a hold rating to a buy rating in a research report released on Tuesday morning. The firm currently has $63.00 price target on the sporting goods retailer’s stock.
According to Zacks, “DICK's Sporting has been gaining from the expansion of its omni-channel network, and powerful marketing and merchandising strategies. Also, the company's customer-oriented strategies, store growth plan and healthy financial status bode well. This is particularly reflected by its regular dividend payouts and constant share buybacks. With these plans underway, the company remains on track to reach its long-term revenue and store growth targets. However, the company expects to witness some near-term pressure, owing to the major liquidation going on in the sporting goods space. Stiff competition also remains a threat. Nonetheless, the company's raised fiscal 2016 earnings and comps outlook ushers in confidence about its future prospects. Estimates have been largely stable going into the third-quarter earnings release. The company has a mixed record of earnings surprises in recent quarters.”
A number of other equities research analysts also recently weighed in on the company. Off Wall Street assumed coverage on Dick’s Sporting Goods in a report on Thursday, September 29th. They issued a sell rating for the company. Brean Capital reiterated a buy rating on shares of Dick’s Sporting Goods in a report on Thursday, September 22nd. Guggenheim assumed coverage on Dick’s Sporting Goods in a report on Tuesday, September 20th. They issued a neutral rating for the company. Oppenheimer Holdings Inc. upgraded Dick’s Sporting Goods from a market perform rating to an outperform rating and set a $75.00 target price for the company in a report on Thursday, September 15th. Finally, Citigroup Inc. raised Dick’s Sporting Goods to an outperform rating and set a $75.00 price objective for the company in a research note on Thursday, September 15th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-two have assigned a buy rating to the company. Dick’s Sporting Goods presently has a consensus rating of Buy and a consensus price target of $59.16.
Shares of Dick’s Sporting Goods (NYSE:DKS) traded up 1.830% during midday trading on Tuesday, hitting $57.045. The stock had a trading volume of 570,829 shares. The company’s 50 day moving average is $59.04 and its 200 day moving average is $49.27. The firm has a market cap of $6.44 billion, a P/E ratio of 19.981 and a beta of 0.85. Dick’s Sporting Goods has a 52 week low of $33.42 and a 52 week high of $61.94.
Dick’s Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, August 16th. The sporting goods retailer reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.13. The business earned $2 billion during the quarter, compared to the consensus estimate of $1.88 billion. Dick’s Sporting Goods had a return on equity of 18.43% and a net margin of 4.32%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. On average, equities analysts predict that Dick’s Sporting Goods will post $3.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a $0.1513 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.08%. Dick’s Sporting Goods’s dividend payout ratio (DPR) is currently 21.33%.
In other news, EVP Michele Willoughby sold 36,737 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $58.78, for a total value of $2,159,400.86. Following the transaction, the executive vice president now directly owns 98,923 shares in the company, valued at approximately $5,814,693.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 22.96% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC purchased a new position in Dick’s Sporting Goods during the second quarter worth about $1,832,000. IFP Advisors Inc increased its position in Dick’s Sporting Goods by 1,257.6% in the second quarter. IFP Advisors Inc now owns 3,204 shares of the sporting goods retailer’s stock worth $144,000 after buying an additional 2,968 shares during the period. Public Employees Retirement System of Ohio increased its position in Dick’s Sporting Goods by 80.0% in the second quarter. Public Employees Retirement System of Ohio now owns 51,695 shares of the sporting goods retailer’s stock worth $2,329,000 after buying an additional 22,972 shares during the period. Personal Capital Advisors Corp increased its position in Dick’s Sporting Goods by 17.0% in the second quarter. Personal Capital Advisors Corp now owns 232,931 shares of the sporting goods retailer’s stock worth $10,496,000 after buying an additional 33,853 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Dick’s Sporting Goods by 7.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 261,780 shares of the sporting goods retailer’s stock worth $11,796,000 after buying an additional 18,581 shares during the period. Hedge funds and other institutional investors own 72.16% of the company’s stock.
Dick’s Sporting Goods Company Profile
DICK’S Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, as well as e-commerce Websites at www.DICKS.com, www.golfgalaxy.com, www.fieldandstreamshop.com and www.caliastudio.com.
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