Dick’s Sporting Goods, Inc. (DKS) Lifted to Overweight at J P Morgan Chase & Co

J P Morgan Chase & Co upgraded shares of Dick’s Sporting Goods, Inc. (NYSE:DKS) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday morning, Marketbeat reports.

Other analysts also recently issued research reports about the stock. MKM Partners downgraded shares of Dick’s Sporting Goods from a buy rating to a neutral rating and lowered their target price for the company from $47.00 to $30.00 in a report on Tuesday, August 15th. Citigroup Inc. downgraded shares of Dick’s Sporting Goods from a buy rating to a neutral rating and set a $30.00 target price on the stock. in a report on Wednesday, August 16th. Buckingham Research downgraded shares of Dick’s Sporting Goods from a buy rating to a neutral rating and set a $45.00 target price on the stock. in a report on Wednesday, August 16th. Guggenheim reissued a neutral rating on shares of Dick’s Sporting Goods in a report on Wednesday, August 16th. Finally, BMO Capital Markets set a $37.00 price objective on shares of Dick’s Sporting Goods and gave the stock an outperform rating in a report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and seven have issued a buy rating to the company. Dick’s Sporting Goods currently has an average rating of Hold and an average price target of $33.12.

Shares of Dick’s Sporting Goods (NYSE:DKS) traded up $0.83 during trading hours on Wednesday, hitting $28.80. 7,278,072 shares of the stock traded hands, compared to its average volume of 2,992,624. The stock has a market capitalization of $3,060.00, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 1.11 and a beta of 0.48. The company has a current ratio of 1.51, a quick ratio of 0.24 and a debt-to-equity ratio of 0.10. Dick’s Sporting Goods has a 1-year low of $23.88 and a 1-year high of $62.80.

Dick’s Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, November 14th. The sporting goods retailer reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. Dick’s Sporting Goods had a net margin of 1.90% and a return on equity of 7.80%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. sell-side analysts forecast that Dick’s Sporting Goods will post 2.93 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.68 dividend on an annualized basis and a yield of 2.36%. Dick’s Sporting Goods’s payout ratio is 25.09%.

In related news, Director William J. Colombo bought 20,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $26.25 per share, for a total transaction of $525,000.00. Following the completion of the acquisition, the director now owns 323,224 shares in the company, valued at $8,484,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.09% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its holdings in Dick’s Sporting Goods by 0.5% in the second quarter. Nordea Investment Management AB now owns 5,106 shares of the sporting goods retailer’s stock valued at $203,000 after purchasing an additional 26 shares during the period. US Bancorp DE grew its holdings in Dick’s Sporting Goods by 0.8% in the second quarter. US Bancorp DE now owns 22,635 shares of the sporting goods retailer’s stock valued at $901,000 after purchasing an additional 174 shares during the period. Northwestern Mutual Investment Management Company LLC grew its holdings in Dick’s Sporting Goods by 1.6% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 15,395 shares of the sporting goods retailer’s stock valued at $694,000 after purchasing an additional 241 shares during the period. Investment Counselors of Maryland LLC grew its holdings in Dick’s Sporting Goods by 1.1% in the second quarter. Investment Counselors of Maryland LLC now owns 25,331 shares of the sporting goods retailer’s stock valued at $1,009,000 after purchasing an additional 275 shares during the period. Finally, Capstone Asset Management Co. grew its holdings in Dick’s Sporting Goods by 2.7% in the second quarter. Capstone Asset Management Co. now owns 11,462 shares of the sporting goods retailer’s stock valued at $457,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 75.92% of the company’s stock.

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 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.

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

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