Dick’s Sporting Goods, Inc. (DKS) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Dick’s Sporting Goods, Inc. (NYSE:DKS) from a sell rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “DICK’S Sporting, which outperformed the industry in the past month, reported earnings and sales beat in third-quarter fiscal 2017. This marked a return to positive earnings trend after a miss in the preceding quarter, while sales reflected second straight beat. Consequently, the company provided a favorable fourth-quarter outlook and raised earnings view for fiscal 2017. The company remains confident of driving market share growth in the fiscal fourth quarter and through fiscal 2018, backed by its current strategy and tactics. Its investments in e-commerce, store technology and store payroll, as well as DICK'S Team Sports HQ and private brands, bode well. However, the company expects the retail environment to be extremely promotional in fourth quarter and fiscal 2018. This, along with excess inventory, broadened distribution strategies from some vendors and lack of innovation and novelty, is likely to keep margins under pressure.”
DKS has been the subject of several other research reports. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Dick’s Sporting Goods in a report on Tuesday. Cowen and Company cut Dick’s Sporting Goods from an outperform rating to a market perform rating and cut their price target for the company from $31.00 to $28.00 in a report on Thursday, August 24th. Susquehanna Bancshares Inc cut their price target on Dick’s Sporting Goods from $30.00 to $27.00 and set a neutral rating for the company in a report on Friday, November 10th. Forward View raised Dick’s Sporting Goods from a sell rating to a buy rating and set a $30.00 price target for the company in a report on Thursday. Finally, Credit Suisse Group set a $44.00 price target on Dick’s Sporting Goods and gave the company a hold rating in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $33.12.
Shares of Dick’s Sporting Goods (DKS) traded up $0.83 during trading on Thursday, hitting $28.80. The company’s stock had a trading volume of 7,505,889 shares, compared to its average volume of 2,992,624. Dick’s Sporting Goods has a fifty-two week low of $23.88 and a fifty-two week high of $62.80. The firm has a market capitalization of $3,060.00, a PE ratio of 8.20, a P/E/G ratio of 1.11 and a beta of 0.48. The company has a quick ratio of 0.24, a current ratio of 1.51 and a debt-to-equity ratio of 0.10.
Dick’s Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, November 14th. The sporting goods retailer reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Dick’s Sporting Goods had a return on equity of 7.80% and a net margin of 1.90%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. equities analysts forecast that Dick’s Sporting Goods will post 2.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, December 7th. Dick’s Sporting Goods’s dividend payout ratio is presently 25.09%.
In other Dick’s Sporting Goods news, Director William J. Colombo purchased 20,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were bought at an average cost of $26.25 per share, for a total transaction of $525,000.00. Following the completion of the purchase, the director now directly owns 323,224 shares in the company, valued at $8,484,630. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.09% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of DKS. Creative Planning raised its stake in Dick’s Sporting Goods by 72.2% in the second quarter. Creative Planning now owns 2,667 shares of the sporting goods retailer’s stock valued at $106,000 after buying an additional 1,118 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Dick’s Sporting Goods by 30.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,823 shares of the sporting goods retailer’s stock valued at $113,000 after buying an additional 653 shares in the last quarter. Toronto Dominion Bank raised its stake in Dick’s Sporting Goods by 169.2% in the third quarter. Toronto Dominion Bank now owns 4,657 shares of the sporting goods retailer’s stock valued at $126,000 after buying an additional 2,927 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in Dick’s Sporting Goods in the third quarter valued at $132,000. Finally, Nordea Investment Management AB increased its position in shares of Dick’s Sporting Goods by 0.5% during the second quarter. Nordea Investment Management AB now owns 5,106 shares of the sporting goods retailer’s stock worth $203,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 75.92% 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.
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