Dick’s Sporting Goods Inc. (NYSE:DKS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Scoring a hat trick with earnings beat, DICK’S Sporting posted solid third-quarter fiscal 2016 results, driven by robust comps, gross margin expansion and tough inventory management. Further, the company is gaining from bankruptcy declared by major rivals like the Sports Authority, which is also expected to benefit its ongoing performance. Based on the robust results and expectations of market share gains in the future, the company’s management raised its fiscal 2016 view. However, the company’s guidance for the fourth quarter remained bleak, hinting at a weaker-than-expected holiday season – toning down investors’ optimism. Also, the company remains prone to macroeconomic challenges and stiff competition, which remain threats. Nonetheless, DICK’S Sporting’s constant shareholder-friendly moves, as well as focus on store expansion and undertaking investments in omni-channel business, bode well.”

Several other research firms have also commented on DKS. Brean Capital reiterated a “buy” rating on shares of Dick’s Sporting Goods in a research note on Thursday, September 22nd. Guggenheim began coverage on Dick’s Sporting Goods in a research note on Tuesday, September 20th. They issued a “neutral” rating for the company. Vetr lowered Dick’s Sporting Goods from a “buy” rating to a “hold” rating and set a $61.50 target price for the company. in a research note on Tuesday, September 6th. Canaccord Genuity set a $70.00 target price on Dick’s Sporting Goods and gave the company a “buy” rating in a research note on Friday, November 11th. Finally, B. Riley reiterated a “buy” rating and issued a $68.00 target price on shares of Dick’s Sporting Goods in a research note on Friday, November 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the stock. Dick’s Sporting Goods currently has a consensus rating of “Buy” and an average price target of $60.55.

Analyst Recommendations for Dick`s Sporting Goods (NYSE:DKS)

Dick’s Sporting Goods (NYSE:DKS) opened at 56.71 on Wednesday. The stock has a 50 day moving average price of $57.09 and a 200 day moving average price of $51.32. Dick’s Sporting Goods has a 52 week low of $33.42 and a 52 week high of $61.94. The stock has a market cap of $6.40 billion, a PE ratio of 19.86 and a beta of 0.71.

Dick’s Sporting Goods (NYSE:DKS) last released its earnings results on Tuesday, November 15th. The sporting goods retailer reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. The firm earned $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. Dick’s Sporting Goods had a return on equity of 18.43% and a net margin of 4.32%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities analysts predict that Dick’s Sporting Goods will post $3.05 earnings per share for the current year.

In other news, EVP Michele Willoughby sold 36,737 shares of Dick’s Sporting Goods stock in a transaction dated 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 $5,814,693.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.96% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Pictet Asset Management Ltd. raised its position in Dick’s Sporting Goods by 7.0% in the first quarter. Pictet Asset Management Ltd. now owns 35,000 shares of the sporting goods retailer’s stock worth $1,486,000 after buying an additional 2,300 shares during the last quarter. AMP Capital Investors Ltd increased its stake in Dick’s Sporting Goods by 167.9% in the first quarter. AMP Capital Investors Ltd now owns 62,306 shares of the sporting goods retailer’s stock worth $2,929,000 after buying an additional 39,048 shares during the period. Legal & General Group Plc increased its stake in Dick’s Sporting Goods by 9.1% in the first quarter. Legal & General Group Plc now owns 77,886 shares of the sporting goods retailer’s stock worth $3,641,000 after buying an additional 6,490 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in Dick’s Sporting Goods by 2.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 84,600 shares of the sporting goods retailer’s stock worth $3,955,000 after buying an additional 2,310 shares during the period. Finally, Babson Capital Management LLC purchased a new stake in Dick’s Sporting Goods during the first quarter worth $785,000. Institutional investors and hedge funds own 72.80% of the company’s stock.

About Dick’s Sporting Goods

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.

5 Day Chart for NYSE:DKS

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