Dick’s Sporting Goods Inc. (DKS) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Dick’s Sporting Goods Inc. (NYSE:DKS) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $63.00 price target on the sporting goods retailer’s stock.
According to Zacks, “DICK's Sporting has been gaining from the expansion of its omni-channel network, and powerful marketing and merchandising strategies. Also, the company's customer-oriented strategies, store growth plan and healthy financial status bode well. This is particularly reflected by its regular dividend payouts and constant share buybacks. With these plans underway, the company remains on track to reach its long-term revenue and store growth targets. However, the company expects to witness some near-term pressure, owing to the major liquidation going on in the sporting goods space. Stiff competition also remains a threat. Nonetheless, the company's raised fiscal 2016 earnings and comps outlook ushers in confidence about its future prospects. Estimates have been largely stable going into the third-quarter earnings release. The company has a mixed record of earnings surprises in recent quarters.”
A number of other research firms have also recently issued reports on DKS. Goldman Sachs Group Inc. reissued a buy rating and set a $53.00 target price on shares of Dick’s Sporting Goods in a research note on Monday, July 18th. Cleveland Research raised Dick’s Sporting Goods from a neutral rating to a buy rating and set a $59.00 target price for the company in a research note on Friday, August 5th. Royal Bank Of Canada raised Dick’s Sporting Goods from a sector perform rating to an outperform rating and increased their target price for the stock from $41.00 to $56.00 in a research note on Thursday, July 14th. Citigroup Inc. raised Dick’s Sporting Goods to an outperform rating and set a $75.00 target price for the company in a research note on Thursday, September 15th. Finally, Vetr cut Dick’s Sporting Goods from a buy rating to a hold rating and set a $50.00 target price for the company. in a research note on Monday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $59.38.
Dick’s Sporting Goods (NYSE:DKS) opened at 57.71 on Tuesday. Dick’s Sporting Goods has a 52-week low of $33.42 and a 52-week high of $61.94. The stock has a 50 day moving average of $58.98 and a 200-day moving average of $49.46. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 20.21 and a beta of 0.85.
Dick’s Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, August 16th. The sporting goods retailer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. The company earned $2 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Dick’s Sporting Goods had a return on equity of 18.43% and a net margin of 4.32%. Dick’s Sporting Goods’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. On average, analysts forecast that Dick’s Sporting Goods will post $3.06 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were given a $0.1513 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Wednesday, September 7th. Dick’s Sporting Goods’s payout ratio is currently 21.33%.
In related news, EVP Michele Willoughby sold 36,737 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $58.78, for a total value of $2,159,400.86. Following the transaction, the executive vice president now owns 98,923 shares in the company, valued at $5,814,693.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.96% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in DKS. Acrospire Investment Management LLC acquired a new stake in Dick’s Sporting Goods during the first quarter valued at $103,000. BlueMountain Capital Management LLC raised its stake in 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 period. Johnson Financial Group Inc. acquired a new stake in Dick’s Sporting Goods during the second quarter valued at $135,000. Creative Planning raised its stake in 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 valued at $138,000 after buying an additional 1,405 shares during the period. Finally, IFP Advisors Inc raised its stake in Dick’s Sporting Goods by 1,257.6% in the second quarter. IFP Advisors Inc now owns 3,204 shares of the sporting goods retailer’s stock valued at $144,000 after buying an additional 2,968 shares during the period. 72.16% of the stock is currently owned by institutional investors and hedge funds.
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.
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