Morgan Stanley Reaffirms “Equal Weight” Rating for Dick’s Sporting Goods (DKS)

Dick’s Sporting Goods (NYSE:DKS)‘s stock had its “equal weight” rating reaffirmed by analysts at Morgan Stanley in a research note issued on Thursday. They presently have a $28.00 price objective on the sporting goods retailer’s stock. Morgan Stanley’s price target suggests a potential downside of 6.23% from the stock’s current price.

DKS has been the topic of a number of other reports. Wells Fargo & Company set a $29.00 price target on Dick’s Sporting Goods and gave the company a “hold” rating in a research note on Wednesday, October 11th. BMO Capital Markets restated a “buy” rating and issued a $37.00 price target on shares of Dick’s Sporting Goods in a research note on Thursday, November 2nd. Cowen restated a “hold” rating and issued a $28.00 price target on shares of Dick’s Sporting Goods in a research note on Thursday, September 28th. Credit Suisse Group decreased their price target on Dick’s Sporting Goods from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 15th. Finally, UBS decreased their price target on Dick’s Sporting Goods from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $31.92.

Shares of Dick’s Sporting Goods (NYSE DKS) traded down $0.39 during mid-day trading on Thursday, hitting $29.86. The company’s stock had a trading volume of 500,127 shares, compared to its average volume of 3,058,944. Dick’s Sporting Goods has a one year low of $23.88 and a one year high of $59.63. The stock has a market cap of $3,228.53, a P/E ratio of 9.63, a P/E/G ratio of 1.64 and a beta of 0.57. The company has a quick ratio of 0.25, a current ratio of 1.61 and a debt-to-equity ratio of 0.28.

Dick’s Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, November 14th. The sporting goods retailer reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Dick’s Sporting Goods had a return on equity of 17.95% and a net margin of 3.54%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. research analysts expect that Dick’s Sporting Goods will post 2.97 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its stake in Dick’s Sporting Goods by 263.8% in the second quarter. TIAA CREF Investment Management LLC now owns 5,634,221 shares of the sporting goods retailer’s stock valued at $224,411,000 after purchasing an additional 4,085,414 shares during the last quarter. Okumus Fund Management Ltd. acquired a new position in Dick’s Sporting Goods in the third quarter valued at $46,406,000. Northern Trust Corp increased its stake in Dick’s Sporting Goods by 54.6% in the second quarter. Northern Trust Corp now owns 3,791,180 shares of the sporting goods retailer’s stock valued at $151,003,000 after purchasing an additional 1,339,379 shares during the last quarter. Prudential Financial Inc. increased its stake in Dick’s Sporting Goods by 316.5% in the third quarter. Prudential Financial Inc. now owns 1,158,619 shares of the sporting goods retailer’s stock valued at $31,295,000 after purchasing an additional 880,464 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Dick’s Sporting Goods by 58.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,717,065 shares of the sporting goods retailer’s stock valued at $46,379,000 after purchasing an additional 636,186 shares during the last quarter. 72.96% of the stock is owned by institutional investors.

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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 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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