Zacks Investment Research upgraded shares of Dick’s Sporting Goods Inc. (NYSE:DKS) from a hold rating to a buy rating in a research note published on Wednesday. Zacks Investment Research currently has $67.00 price objective on the sporting goods retailer’s stock.

According to Zacks, “DICK’S Sporting has comfortably outperformed the Zacks Categorized industry primarily due to three consecutive quarters of earnings beat. Earnings were 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 focus on store expansion and undertaking investments in omni-channel business, bode well.”

A number of other analysts have also recently weighed in on the stock. B. Riley reaffirmed a buy rating and set a $68.00 target price on shares of Dick’s Sporting Goods in a research note on Monday, November 21st. Brean Capital reaffirmed a buy rating on shares of Dick’s Sporting Goods in a research note on Wednesday, November 16th. RBC Capital Markets boosted their target price on shares of Dick’s Sporting Goods from $66.00 to $68.00 and gave the stock an outperform rating in a research note on Wednesday, November 16th. Royal Bank Of Canada boosted their target price on shares of Dick’s Sporting Goods from $66.00 to $68.00 and gave the stock an outperform rating in a research note on Wednesday, November 16th. Finally, Canaccord Genuity set a $70.00 price objective on shares of Dick’s Sporting Goods and gave the stock a buy rating in a research note on Friday, November 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the stock. Dick’s Sporting Goods currently has a consensus rating of Buy and an average price target of $61.29.

Shares of Dick’s Sporting Goods (NYSE:DKS) opened at 59.07 on Wednesday. Dick’s Sporting Goods has a 52 week low of $33.44 and a 52 week high of $62.88. The firm has a market cap of $6.65 billion, a P/E ratio of 20.45 and a beta of 0.71. The company’s 50-day moving average price is $57.37 and its 200 day moving average price is $52.41.

Dick’s Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, November 15th. The sporting goods retailer reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Dick’s Sporting Goods had a net margin of 4.25% and a return on equity of 18.15%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts anticipate that Dick’s Sporting Goods will post $3.10 earnings per share for the current year.

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

In other Dick’s Sporting Goods news, EVP Lauren R. Hobart sold 24,015 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 57,930 shares in the company, valued at approximately $3,386,008.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lee J. Belitsky sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 17th. The stock was 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 owns 131,623 shares in the company, valued at $7,699,945.50. The disclosure for this sale can be found here. 22.96% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the company. Johnston Asset Management LLC boosted its stake in Dick’s Sporting Goods by 35.3% in the second quarter. Johnston Asset Management LLC now owns 393,205 shares of the sporting goods retailer’s stock valued at $17,718,000 after buying an additional 102,695 shares in the last quarter. Creative Planning boosted 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 in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in Dick’s Sporting Goods by 3.8% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 100,704 shares of the sporting goods retailer’s stock valued at $4,538,000 after buying an additional 3,679 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in 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 in the last quarter. Finally, First Midwest Bank Trust Division boosted its stake in Dick’s Sporting Goods by 41.1% in the second quarter. First Midwest Bank Trust Division now owns 18,472 shares of the sporting goods retailer’s stock valued at $832,000 after buying an additional 5,378 shares in the last quarter. Institutional investors and hedge funds own 70.79% 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 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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