Bank of America Corporation downgraded shares of Dick’s Sporting Goods Inc (NYSE:DKS) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports. Bank of America Corporation currently has $35.00 target price on the sporting goods retailer’s stock.

Several other analysts have also recently issued reports on the stock. Wedbush reaffirmed an outperform rating and issued a $68.00 price target on shares of Dick’s Sporting Goods in a report on Sunday, May 14th. Canaccord Genuity reaffirmed a buy rating and issued a $52.00 price target on shares of Dick’s Sporting Goods in a report on Friday, July 21st. Telsey Advisory Group cut shares of Dick’s Sporting Goods from an outperform rating to a market perform rating and cut their price target for the company from $52.00 to $40.00 in a report on Monday, July 24th. Cleveland Research cut shares of Dick’s Sporting Goods from a buy rating to a hold rating in a report on Monday, July 10th. Finally, Stifel Nicolaus reaffirmed an outperform rating and issued a $65.00 price target on shares of Dick’s Sporting Goods in a report on Sunday, April 23rd. Four analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $43.74.

Dick’s Sporting Goods (NYSE DKS) traded down 1.51% on Tuesday, hitting $27.32. 1,206,808 shares of the company were exchanged. The firm has a 50 day moving average of $36.40 and a 200-day moving average of $44.44. Dick’s Sporting Goods has a 52-week low of $26.32 and a 52-week high of $62.88. The stock has a market cap of $2.96 billion, a PE ratio of 9.80 and a beta of 0.47.

Dick’s Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by $0.04. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Dick’s Sporting Goods had a net margin of 3.74% and a return on equity of 19.09%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share. On average, equities analysts expect that Dick’s Sporting Goods will post $3.00 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a $0.17 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.68 dividend on an annualized basis and a yield of 2.45%. Dick’s Sporting Goods’s payout ratio is 24.29%.

A number of institutional investors have recently modified their holdings of DKS. Schwab Charles Investment Management Inc. boosted its position in shares of Dick’s Sporting Goods by 6.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 292,898 shares of the sporting goods retailer’s stock worth $14,253,000 after buying an additional 18,198 shares during the period. Baird Financial Group Inc. boosted its position in shares of Dick’s Sporting Goods by 16.5% in the first quarter. Baird Financial Group Inc. now owns 63,312 shares of the sporting goods retailer’s stock worth $3,081,000 after buying an additional 8,984 shares during the period. Manning & Napier Advisors LLC boosted its position in shares of Dick’s Sporting Goods by 1,173.1% in the second quarter. Manning & Napier Advisors LLC now owns 1,043,955 shares of the sporting goods retailer’s stock worth $41,580,000 after buying an additional 961,955 shares during the period. Lazard Asset Management LLC boosted its position in shares of Dick’s Sporting Goods by 1,779.5% in the first quarter. Lazard Asset Management LLC now owns 70,782 shares of the sporting goods retailer’s stock worth $3,443,000 after buying an additional 67,016 shares during the period. Finally, Karp Capital Management Corp bought a new position in shares of Dick’s Sporting Goods during the first quarter worth about $1,468,000. Hedge funds and other institutional investors own 76.35% 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 primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.

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

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