Dick’s Sporting Goods Inc. (NYSE:DKS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $67.00 price objective on the sporting goods retailer’s stock. Zacks Investment Research’s target price indicates a potential upside of 11.33% from the company’s current price.

According to Zacks, “DICK’S Sporting has comfortably outperformed the Zacks Categorized industry primarily due to three consecutive quarters of earnings beat. Earnings were 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 focus on store expansion and undertaking investments in omni-channel business, bode well.”

Several other research analysts also recently commented on DKS. B. Riley reissued a “buy” rating and issued a $66.00 price target on shares of Dick’s Sporting Goods in a report on Wednesday, August 17th. Wedbush assumed coverage on shares of Dick’s Sporting Goods in a report on Tuesday, November 1st. They issued an “outperform” rating and a $65.00 price target for the company. Vetr raised shares of Dick’s Sporting Goods from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Monday, August 15th. Morgan Stanley lifted their price objective on shares of Dick’s Sporting Goods from $44.00 to $54.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 17th. Finally, BMO Capital Markets lifted their price objective on shares of Dick’s Sporting Goods from $52.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the stock. Dick’s Sporting Goods has a consensus rating of “Buy” and a consensus price target of $61.29.

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

Dick’s Sporting Goods (NYSE:DKS) traded down 1.2599% during mid-day trading on Wednesday, reaching $59.4218. The company had a trading volume of 727,404 shares. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 20.5683 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 firm has a 50-day moving average price of $57.37 and a 200 day moving average price of $52.41.

Dick’s Sporting Goods (NYSE:DKS) last announced its quarterly 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. Dick’s Sporting Goods had a net margin of 4.25% and a return on equity of 18.15%. The firm earned $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm earned $0.45 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts expect that Dick’s Sporting Goods will post $3.10 EPS for the current year.

The business also recently disclosed 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 of this dividend is Wednesday, December 7th. This represents a $0.61 dividend on an annualized basis and a yield of 1.01%. Dick’s Sporting Goods’s dividend payout ratio (DPR) is 21.11%.

WARNING: “Dick’s Sporting Goods Inc. (DKS) Upgraded to Buy at Zacks Investment Research” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another website, it was illegally stolen and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2016/11/30/dicks-sporting-goods-inc-dks-upgraded-to-buy-at-zacks-investment-research-3.html.

In other Dick’s Sporting Goods news, EVP Lauren R. Hobart sold 24,015 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $58.45, for a total transaction of $1,403,676.75. Following the completion of the sale, the executive vice president now directly owns 57,930 shares of the company’s stock, valued at $3,386,008.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Lee J. Belitsky sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $58.50, for a total transaction of $877,500.00. Following the sale, the chief financial officer now directly owns 131,623 shares of the company’s stock, valued at $7,699,945.50. The disclosure for this sale can be found here. Corporate insiders own 22.96% of the company’s stock.

A number of hedge funds have recently made changes to their positions in DKS. BlueMountain Capital Management LLC boosted its stake in shares of Dick’s Sporting Goods by 63.6% in the second quarter. BlueMountain Capital Management LLC now owns 2,748 shares of the sporting goods retailer’s stock worth $124,000 after buying an additional 1,068 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Dick’s Sporting Goods by 10.0% in the third quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the sporting goods retailer’s stock worth $125,000 after buying an additional 200 shares in the last quarter. James Investment Research Inc. boosted its stake in shares of Dick’s Sporting Goods by 505.3% in the third quarter. James Investment Research Inc. now owns 2,300 shares of the sporting goods retailer’s stock worth $130,000 after buying an additional 1,920 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Dick’s Sporting Goods during the second quarter worth approximately $135,000. Finally, Creative Planning boosted its stake in shares of Dick’s Sporting Goods by 84.3% in the second quarter. Creative Planning now owns 3,072 shares of the sporting goods retailer’s stock worth $138,000 after buying an additional 1,405 shares in the last quarter. 70.79% of the stock is owned by institutional investors and hedge funds.

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

Receive News & Stock Ratings for Dick's Sporting Goods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dick's Sporting Goods Inc. and related stocks with our FREE daily email newsletter.