Zacks Investment Research upgraded shares of Dick’s Sporting Goods Inc. (NYSE:DKS) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $59.00 price target on the sporting goods retailer’s stock.
According to Zacks, “DICK’S Sporting has significantly outperformed the Zacks Categorized industry in the past year, primarily due to three straight 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 future market share gains, management raised its fiscal 2016 view. However, a dull fourth quarter guidance hinted at a weaker-than-expected holiday season – toning down investors’ optimism. Also, the company remains prone to macroeconomic hurdles and stiff competition Nonetheless, DICK’S Sporting’s focus on store expansion and undertaking investments in omni-channel business, bode well. Estimates have been stable lately ahead of the company's fourth quarter earnings.”
Several other analysts also recently commented on the stock. Cowen and Company upgraded shares of Dick’s Sporting Goods from a market perform rating to an outperform rating and set a $64.00 target price on the stock in a report on Monday, October 24th. Off Wall Street initiated coverage on shares of Dick’s Sporting Goods in a report on Thursday, September 29th. They set a sell rating on the stock. RBC Capital Markets raised 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 report on Wednesday, November 16th. Guggenheim assumed coverage on shares of Dick’s Sporting Goods in a report on Tuesday, September 20th. They set a neutral rating on the stock. Finally, Forward View set a $59.00 price objective on shares of Dick’s Sporting Goods and gave the company a buy rating in a report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Dick’s Sporting Goods has an average rating of Buy and an average price target of $61.57.
Dick’s Sporting Goods (NYSE:DKS) traded down 1.04% during mid-day trading on Wednesday, hitting $51.43. 801,241 shares of the company traded hands. Dick’s Sporting Goods has a one year low of $36.00 and a one year high of $62.88. The company’s 50-day moving average is $56.19 and its 200-day moving average is $56.08. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 17.80 and a beta of 0.71.
Dick’s Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, November 15th. The sporting goods retailer reported $0.48 earnings per share for the quarter, topping the 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 analyst estimates of $1.77 billion. During the same quarter last year, the firm earned $0.45 EPS. Dick’s Sporting Goods’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts predict that Dick’s Sporting Goods will post $3.10 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 9th were given a dividend of $0.1513 per share. The ex-dividend date was Wednesday, December 7th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.16%. Dick’s Sporting Goods’s dividend payout ratio (DPR) is presently 21.11%.
In other news, EVP Lauren R. Hobart sold 24,015 shares of Dick’s Sporting Goods stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $58.45, for a total transaction of $1,403,676.75. Following the completion of the sale, the executive vice president now owns 57,930 shares in the company, valued at approximately $3,386,008.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Lee J. Belitsky sold 15,000 shares of Dick’s Sporting Goods stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $58.50, for a total value of $877,500.00. Following the sale, the chief financial officer now 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. Insiders own 22.96% of the company’s stock.
Several hedge funds have recently modified their holdings of DKS. Price T Rowe Associates Inc. MD increased its stake in shares of Dick’s Sporting Goods by 2,269.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,808,507 shares of the sporting goods retailer’s stock worth $272,739,000 after buying an additional 4,605,573 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Dick’s Sporting Goods by 2,970.6% in the third quarter. PNC Financial Services Group Inc. now owns 873,055 shares of the sporting goods retailer’s stock worth $49,519,000 after buying an additional 844,622 shares during the period. TimesSquare Capital Management LLC acquired a new stake in shares of Dick’s Sporting Goods during the second quarter worth about $23,666,000. GLG Partners LP acquired a new stake in shares of Dick’s Sporting Goods during the second quarter worth about $19,853,000. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Dick’s Sporting Goods during the third quarter worth about $24,156,000. Hedge funds and other institutional investors own 70.93% 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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