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

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.”

Other analysts have also issued reports about the company. Stifel Nicolaus increased their target price on Dick’s Sporting Goods from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 12th. B. Riley restated a “buy” rating and set a $61.00 price objective on shares of Dick’s Sporting Goods in a research report on Friday, August 12th. Cleveland Research upgraded Dick’s Sporting Goods from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Friday, August 5th. Goldman Sachs Group Inc. upped their price objective on Dick’s Sporting Goods from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. upped their price objective on Dick’s Sporting Goods from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the stock. Dick’s Sporting Goods presently has an average rating of “Buy” and a consensus price target of $61.26.

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

Dick’s Sporting Goods (NYSE:DKS) opened at 60.18 on Monday. The stock’s 50 day moving average price is $57.37 and its 200 day moving average price is $52.41. Dick’s Sporting Goods has a 52-week low of $33.44 and a 52-week high of $62.88. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 20.83 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.06. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. Dick’s Sporting Goods had a return on equity of 18.15% and a net margin of 4.25%. Dick’s Sporting Goods’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS. On average, equities analysts anticipate that Dick’s Sporting Goods will post $3.10 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a dividend of $0.1513 per share. The ex-dividend date 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 currently 21.11%.

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In related news, CFO Lee J. Belitsky sold 15,000 shares of Dick’s Sporting Goods stock in a transaction on Thursday, November 17th. The stock was 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 in the company, valued at $7,699,945.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lauren R. Hobart sold 24,015 shares of Dick’s Sporting Goods stock in a transaction on Friday, November 18th. The stock was sold at an average price of $58.45, for a total value of $1,403,676.75. Following the sale, the executive vice president now owns 57,930 shares in the company, 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.

Several hedge funds have recently modified their holdings of the stock. Daiwa Securities Group Inc. raised 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 valued at $125,000 after buying an additional 200 shares during the last quarter. James Investment Research Inc. raised 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 valued at $130,000 after buying an additional 1,920 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Dick’s Sporting Goods during the third quarter valued at about $138,000. BlueMountain Capital Management LLC raised 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 valued at $124,000 after buying an additional 1,068 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its stake in shares of Dick’s Sporting Goods by 38.1% in the third quarter. Acrospire Investment Management LLC now owns 2,900 shares of the sporting goods retailer’s stock valued at $164,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 70.79% 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.

5 Day Chart for NYSE:DKS

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