Dick’s Sporting Goods Inc (NYSE:DKS) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other analysts also recently issued reports on the company. Bank of America Corporation reiterated a “buy” rating and set a $55.00 price target (down previously from $65.00) on shares of Dick’s Sporting Goods in a research report on Wednesday, May 17th. Wedbush reiterated an “outperform” rating and set a $68.00 price target on shares of Dick’s Sporting Goods in a research report on Sunday, May 14th. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target on shares of Dick’s Sporting Goods in a research report on Friday, July 21st. Telsey Advisory Group downgraded Dick’s Sporting Goods from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $52.00 to $40.00 in a research report on Monday, July 24th. Finally, BMO Capital Markets set a $62.00 price target on Dick’s Sporting Goods and gave the company a “buy” rating in a research report on Thursday, July 6th. Four equities research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and five have given a buy rating to the stock. Dick’s Sporting Goods currently has a consensus rating of “Hold” and an average target price of $41.64.

Shares of Dick’s Sporting Goods (NYSE:DKS) traded up 1.37% on Friday, reaching $26.72. The company’s stock had a trading volume of 1,769,826 shares. The stock has a market cap of $2.92 billion, a P/E ratio of 9.59 and a beta of 0.47. The firm’s 50-day moving average price is $32.74 and its 200-day moving average price is $42.44. Dick’s Sporting Goods has a 12 month low of $25.94 and a 12 month high of $62.88.

Dick’s Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.04. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Dick’s Sporting Goods had a net margin of 3.74% and a return on equity of 19.09%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. On average, analysts forecast that Dick’s Sporting Goods will post $2.90 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The original version of this piece can be read at https://www.thecerbatgem.com/2017/09/02/dicks-sporting-goods-inc-dks-downgraded-to-hold-at-valuengine.html.

In other Dick’s Sporting Goods news, Director William J. Colombo purchased 20,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average cost of $26.25 per share, with a total value of $525,000.00. Following the completion of the acquisition, the director now directly owns 323,224 shares in the company, valued at approximately $8,484,630. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 23.09% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Dick’s Sporting Goods by 17.1% in the first quarter. Bank of Montreal Can now owns 70,827 shares of the sporting goods retailer’s stock worth $3,447,000 after buying an additional 10,366 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Dick’s Sporting Goods by 4.4% in the first quarter. Capstone Asset Management Co. now owns 11,162 shares of the sporting goods retailer’s stock worth $543,000 after buying an additional 470 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Dick’s Sporting Goods by 3.0% in the first quarter. Janney Montgomery Scott LLC now owns 21,441 shares of the sporting goods retailer’s stock worth $1,043,000 after buying an additional 625 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Dick’s Sporting Goods by 46.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 47,000 shares of the sporting goods retailer’s stock worth $2,287,000 after buying an additional 15,000 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Dick’s Sporting Goods by 151.1% in the first quarter. Russell Investments Group Ltd. now owns 240,638 shares of the sporting goods retailer’s stock worth $11,710,000 after buying an additional 144,792 shares during the last quarter. 75.54% of the stock is currently 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 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)

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.