Dicks Sporting Goods (NYSE:DKS) Downgraded by ValuEngine to “Strong Sell”

ValuEngine lowered shares of Dicks Sporting Goods (NYSE:DKS) from a sell rating to a strong sell rating in a report released on Thursday morning, ValuEngine reports.

A number of other analysts also recently issued reports on the stock. TheStreet downgraded shares of Dicks Sporting Goods from a b rating to a c+ rating in a research report on Thursday, June 20th. Bank of America set a $40.00 price objective on Dicks Sporting Goods and gave the company a hold rating in a research report on Thursday, May 30th. Goldman Sachs Group initiated coverage on Dicks Sporting Goods in a research note on Thursday, July 11th. They issued a neutral rating and a $38.00 price objective on the stock. Zacks Investment Research upgraded Dicks Sporting Goods from a hold rating to a buy rating and set a $36.00 price objective for the company in a report on Monday, July 1st. Finally, Citigroup initiated coverage on Dicks Sporting Goods in a report on Wednesday, April 10th. They issued a neutral rating and a $40.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $40.00.

NYSE:DKS traded down $1.07 during trading hours on Thursday, hitting $33.79. The stock had a trading volume of 2,520,315 shares, compared to its average volume of 1,553,898. Dicks Sporting Goods has a 1-year low of $29.69 and a 1-year high of $41.21. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.16 and a current ratio of 1.31. The company has a market capitalization of $3.42 billion, a P/E ratio of 10.43, a PEG ratio of 1.99 and a beta of 0.57. The firm has a 50 day simple moving average of $35.88.

Dicks Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Wednesday, May 29th. The sporting goods retailer reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. Dicks Sporting Goods had a return on equity of 16.95% and a net margin of 3.76%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the firm posted $0.59 earnings per share. The business’s revenue was up .6% on a year-over-year basis. As a group, equities research analysts expect that Dicks Sporting Goods will post 3.33 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. First Bank & Trust grew its holdings in shares of Dicks Sporting Goods by 7.3% during the second quarter. First Bank & Trust now owns 5,785 shares of the sporting goods retailer’s stock worth $200,000 after buying an additional 395 shares in the last quarter. Investors Research Corp lifted its stake in shares of Dicks Sporting Goods by 23.5% in the second quarter. Investors Research Corp now owns 2,100 shares of the sporting goods retailer’s stock worth $73,000 after buying an additional 400 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Dicks Sporting Goods by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 29,934 shares of the sporting goods retailer’s stock worth $1,037,000 after buying an additional 422 shares in the last quarter. Centric Wealth Management lifted its stake in shares of Dicks Sporting Goods by 4.1% in the first quarter. Centric Wealth Management now owns 11,498 shares of the sporting goods retailer’s stock worth $423,000 after buying an additional 458 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Dicks Sporting Goods by 37.7% during the second quarter. Signaturefd LLC now owns 1,986 shares of the sporting goods retailer’s stock worth $69,000 after purchasing an additional 544 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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 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, free league management services, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

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Analyst Recommendations for Dicks Sporting Goods (NYSE:DKS)

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