Zacks Investment Research downgraded shares of Dick’s Sporting Goods Inc. (NYSE:DKS) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

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.”

DKS has been the topic of several other reports. Off Wall Street initiated coverage on shares of Dick’s Sporting Goods in a research note on Thursday, September 29th. They set a sell rating on the stock. Vetr raised shares of Dick’s Sporting Goods from a hold rating to a buy rating and set a $61.50 price target on the stock in a research note on Monday, August 22nd. Canaccord Genuity reissued a buy rating and set a $70.00 price target on shares of Dick’s Sporting Goods in a research note on Thursday, October 6th. JPMorgan Chase & Co. reissued a neutral rating and set a $60.00 price target on shares of Dick’s Sporting Goods in a research note on Monday, October 10th. Finally, Argus raised their price objective on shares of Dick’s Sporting Goods from $52.00 to $66.00 and gave the company a buy rating in a research note on Tuesday, August 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $61.26.

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

Shares of Dick’s Sporting Goods (NYSE:DKS) opened at 59.23 on Monday. The firm has a market capitalization of $6.55 billion, a P/E ratio of 20.50 and a beta of 0.71. The firm’s 50-day moving average is $57.37 and its 200 day moving average is $52.41. Dick’s Sporting Goods has a 52 week low of $33.44 and a 52 week high of $62.88.

Dick’s Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, November 15th. The sporting goods retailer reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. Dick’s Sporting Goods had a net margin of 4.25% and a return on equity of 18.15%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. Dick’s Sporting Goods’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Dick’s Sporting Goods will post $3.10 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be issued a $0.1513 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Wednesday, December 7th. Dick’s Sporting Goods’s dividend payout ratio is currently 21.11%.

In other Dick’s Sporting Goods news, EVP Lauren R. Hobart sold 24,015 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $58.45, for a total value of $1,403,676.75. Following the completion of the sale, the executive vice president now owns 57,930 shares of the company’s stock, valued at approximately $3,386,008.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lee J. Belitsky sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $58.50, for a total transaction of $877,500.00. Following the completion of the sale, the chief financial officer now directly owns 131,623 shares of the company’s stock, valued at approximately $7,699,945.50. The disclosure for this sale can be found here. 22.96% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc boosted its position in shares of Dick’s Sporting Goods by 9.1% in the first quarter. Legal & General Group Plc now owns 77,886 shares of the sporting goods retailer’s stock valued at $3,641,000 after buying an additional 6,490 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Dick’s Sporting Goods by 2.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 84,600 shares of the sporting goods retailer’s stock valued at $3,955,000 after buying an additional 2,310 shares during the last quarter. Babson Capital Management LLC purchased a new position in shares of Dick’s Sporting Goods during the first quarter valued at approximately $785,000. Royal Bank of Canada boosted its position in shares of Dick’s Sporting Goods by 0.6% in the first quarter. Royal Bank of Canada now owns 277,642 shares of the sporting goods retailer’s stock valued at $12,979,000 after buying an additional 1,527 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new position in shares of Dick’s Sporting Goods during the first quarter valued at approximately $4,480,000. 70.79% of the stock is owned by hedge funds and other institutional investors.

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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