Dick’s Sporting Goods Inc (NYSE:DKS) Rating Lowered to Hold at Cleveland Research

Dick’s Sporting Goods Inc (NYSE:DKS) was downgraded by Cleveland Research from a “buy” rating to a “hold” rating in a report issued on Monday.

Other analysts also recently issued research reports about the company. B. Riley reiterated a “buy” rating and set a $58.00 price target on shares of Dick’s Sporting Goods in a research report on Wednesday, May 17th. Cowen and Company set a $55.00 price target on Dick’s Sporting Goods and gave the company a “buy” rating in a research report on Wednesday, May 17th. Monness Crespi & Hardt reiterated a “buy” rating and set a $52.00 price target (down previously from $60.00) on shares of Dick’s Sporting Goods in a research report on Wednesday, May 17th. Canaccord Genuity reiterated a “buy” rating and set a $67.00 price target on shares of Dick’s Sporting Goods in a research report on Monday, May 8th. Finally, Stifel Nicolaus set a $54.00 price target on Dick’s Sporting Goods and gave the company a “buy” rating in a research report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $57.45.

Dick’s Sporting Goods (NYSE:DKS) traded down 1.03% on Monday, reaching $36.57. The company had a trading volume of 414,849 shares. Dick’s Sporting Goods has a 12-month low of $35.87 and a 12-month high of $62.88. The stock’s 50-day moving average price is $41.11 and its 200-day moving average price is $48.71. The stock has a market capitalization of $4.11 billion, a P/E ratio of 14.16 and a beta of 0.48. Dick’s Sporting Goods also was the target of unusually large options trading on Monday. Stock investors bought 8,206 put options on the stock. This represents an increase of approximately 480% compared to the average daily volume of 1,416 put options.

Dick’s Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, May 16th. The sporting goods retailer reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. Dick’s Sporting Goods had a return on equity of 18.61% and a net margin of 3.57%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Dick’s Sporting Goods will post $3.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 9th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, June 7th. Dick’s Sporting Goods’s payout ratio is 26.25%.

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A number of hedge funds have recently modified their holdings of DKS. BlackRock Inc. boosted its stake in shares of Dick’s Sporting Goods by 2,879.3% in the first quarter. BlackRock Inc. now owns 8,515,919 shares of the sporting goods retailer’s stock worth $414,382,000 after buying an additional 8,230,087 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Dick’s Sporting Goods by 4.4% in the first quarter. Vanguard Group Inc. now owns 6,666,349 shares of the sporting goods retailer’s stock worth $324,384,000 after buying an additional 280,056 shares during the last quarter. State Street Corp boosted its stake in shares of Dick’s Sporting Goods by 2.2% in the first quarter. State Street Corp now owns 3,244,995 shares of the sporting goods retailer’s stock worth $157,904,000 after buying an additional 69,237 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Dick’s Sporting Goods by 424.3% in the first quarter. Renaissance Technologies LLC now owns 2,054,600 shares of the sporting goods retailer’s stock worth $99,977,000 after buying an additional 1,662,700 shares during the last quarter. Finally, OZ Management LP bought a new stake in shares of Dick’s Sporting Goods during the first quarter worth approximately $86,412,000. Institutional investors and hedge funds own 78.82% 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 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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