Zacks Investment Research upgraded shares of Dick’s Sporting Goods Inc. (NYSE:DKS) from a hold rating to a buy rating in a research note published on Friday. Zacks Investment Research currently has $66.00 target price on the sporting goods retailer’s stock.

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 equities research analysts have also weighed in on the company. Brean Capital restated a buy rating on shares of Dick’s Sporting Goods in a report on Wednesday, November 16th. RBC Capital Markets boosted their target price on Dick’s Sporting Goods from $66.00 to $68.00 and gave the stock an outperform rating in a report on Wednesday, November 16th. Royal Bank Of Canada boosted their target price on Dick’s Sporting Goods from $66.00 to $68.00 and gave the stock an outperform rating in a report on Wednesday, November 16th. B. Riley restated a buy rating and issued a $68.00 target price on shares of Dick’s Sporting Goods in a report on Wednesday, November 16th. Finally, Canaccord Genuity set a $70.00 target price on Dick’s Sporting Goods and gave the stock a buy rating in a report on Friday, November 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company. Dick’s Sporting Goods currently has a consensus rating of Buy and a consensus target price of $61.26.

Shares of Dick’s Sporting Goods (NYSE:DKS) traded up 1.33% during trading on Friday, reaching $58.79. The company had a trading volume of 816,963 shares. The firm has a market capitalization of $6.50 billion, a PE ratio of 20.35 and a beta of 0.71. Dick’s Sporting Goods has a 12 month low of $33.44 and a 12 month high of $62.88. The stock has a 50 day moving average price of $56.94 and a 200 day moving average price of $51.68.

Dick’s Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, November 15th. The sporting goods retailer reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. Dick’s Sporting Goods had a return on equity of 18.15% and a net margin of 4.25%. The business earned $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $0.45 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts forecast that Dick’s Sporting Goods will post $3.09 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a dividend of $0.1513 per share. The ex-dividend date is Wednesday, December 7th. This represents a $0.61 annualized dividend and a yield of 1.04%. Dick’s Sporting Goods’s dividend payout ratio (DPR) is presently 21.11%.

In related news, EVP Michele Willoughby sold 36,737 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $58.78, for a total transaction of $2,159,400.86. Following the completion of the transaction, the executive vice president now directly owns 98,923 shares of the company’s stock, valued at $5,814,693.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lauren R. Hobart sold 24,015 shares of the stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $58.45, for a total value of $1,403,676.75. Following the transaction, the executive vice president now directly owns 57,930 shares of the company’s stock, valued at $3,386,008.50. The disclosure for this sale can be found here. Corporate insiders own 22.96% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of DKS. AMP Capital Investors Ltd boosted its position in shares of 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 valued at $2,929,000 after buying an additional 39,048 shares during the period. Legal & General Group Plc boosted its position in shares of 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 valued at $3,641,000 after buying an additional 6,490 shares during the period. Metropolitan Life Insurance Co. NY boosted 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 last quarter. Babson Capital Management LLC acquired a new stake in Dick’s Sporting Goods during the first quarter worth about $785,000. Finally, Royal Bank of Canada boosted its stake in Dick’s Sporting Goods by 0.6% in the first quarter. Royal Bank of Canada now owns 277,642 shares of the sporting goods retailer’s stock worth $12,979,000 after buying an additional 1,527 shares during the last quarter. 69.68% of the stock is owned by hedge funds and other institutional investors.

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.

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