Dicks Sporting Goods (NYSE:DKS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, March 14th.
According to Zacks, “DICK’S Sporting outperformed the industry in the last three months, driven by progress on strategic initiatives. The company’s investments in e-commerce, technology, store payroll, Team Sports HQ and private brands bode well. The company reported earnings beat for fourth-quarter fiscal 2017, marking its second straight positive earnings surprise. Moreover, earnings topped estimates for the sixth time in the last eight quarters. Alongside solid e-commerce growth, results gained from strength in Team Sports, footwear, outdoor equipment and private brands. However, top line lagged estimates in the quarter due to softness in hunting and electronic categories while margins continued to be strained. While innovations and growth of private brands are likely to ease margin pressures in fiscal 2018, the company still anticipates margins to be negative. Additionally, hunting and electronics businesses are expected remain headwinds in fiscal 2018.”
A number of other research analysts also recently issued reports on the company. Credit Suisse Group set a $24.00 price objective on Dicks Sporting Goods and gave the company a “hold” rating in a research note on Tuesday, March 13th. Canaccord Genuity set a $33.00 price objective on Dicks Sporting Goods and gave the company a “hold” rating in a research note on Friday, March 9th. Wedbush reissued a “neutral” rating and issued a $32.00 price objective (up from $28.00) on shares of Dicks Sporting Goods in a research note on Wednesday, March 7th. Barclays lowered Dicks Sporting Goods from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $33.00 to $25.00 in a research report on Monday, February 5th. Finally, ValuEngine lowered Dicks Sporting Goods from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $34.85.
DKS traded down $1.81 during midday trading on Wednesday, hitting $33.76. 3,226,764 shares of the company were exchanged, compared to its average volume of 3,456,046. The company has a market capitalization of $3,774.14, a PE ratio of 11.22, a PEG ratio of 1.23 and a beta of 0.50. Dicks Sporting Goods has a 1-year low of $23.88 and a 1-year high of $52.31. The company has a current ratio of 1.41, a quick ratio of 0.21 and a debt-to-equity ratio of 0.03.
Dicks Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, March 13th. The sporting goods retailer reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.02. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.73 billion. Dicks Sporting Goods had a return on equity of 16.86% and a net margin of 3.77%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 EPS. equities research analysts predict that Dicks Sporting Goods will post 2.94 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cerebellum GP LLC purchased a new position in Dicks Sporting Goods in the fourth quarter valued at approximately $122,000. Toronto Dominion Bank lifted its stake in Dicks Sporting Goods by 169.2% in the third quarter. Toronto Dominion Bank now owns 4,657 shares of the sporting goods retailer’s stock valued at $126,000 after purchasing an additional 2,927 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in Dicks Sporting Goods in the third quarter valued at approximately $132,000. Delpha Capital Management LLC purchased a new position in Dicks Sporting Goods in the fourth quarter valued at approximately $132,000. Finally, State of Alaska Department of Revenue purchased a new position in Dicks Sporting Goods in the fourth quarter valued at approximately $188,000. Hedge funds and other institutional investors own 71.29% of the company’s stock.
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About Dicks Sporting Goods
Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear products and accessories. The company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.
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