Dick’s Sporting Goods Inc. (DKS) Upgraded by Oppenheimer Holdings Inc. to “Outperform”
Dick’s Sporting Goods Inc. (NYSE:DKS) was upgraded by equities research analysts at Oppenheimer Holdings Inc. from a “market perform” rating to an “outperform” rating in a report released on Thursday.
Several other research firms have also weighed in on DKS. Vetr lowered Dick’s Sporting Goods from a “buy” rating to a “hold” rating and set a $61.50 price objective on the stock. in a research note on Tuesday, September 6th. Argus upped their price objective on Dick’s Sporting Goods from $52.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, August 30th. B. Riley reissued a “buy” rating and issued a $66.00 target price on shares of Dick’s Sporting Goods in a report on Monday, August 22nd. Citigroup Inc. boosted their target price on Dick’s Sporting Goods from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $50.00 target price on shares of Dick’s Sporting Goods in a report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $58.52.
Shares of Dick’s Sporting Goods (NYSE:DKS) traded up 2.23% during trading on Thursday, hitting $59.96. The company had a trading volume of 546,909 shares. The stock has a market cap of $6.77 billion, a PE ratio of 21.00 and a beta of 0.83. The firm has a 50 day moving average of $56.32 and a 200 day moving average of $47.79. Dick’s Sporting Goods has a 12-month low of $33.42 and a 12-month high of $60.40.
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Dick’s Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, August 16th. The sporting goods retailer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.13. Dick’s Sporting Goods had a return on equity of 18.43% and a net margin of 4.32%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company posted $0.77 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. On average, analysts forecast that Dick’s Sporting Goods will post $3.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be issued a $0.1513 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Wednesday, September 7th. Dick’s Sporting Goods’s payout ratio is 21.33%.
In other news, EVP Michele Willoughby sold 36,737 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $58.78, for a total value of $2,159,400.86. Following the completion of the transaction, the executive vice president now owns 98,923 shares in the company, valued at approximately $5,814,693.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.96% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new position in shares of Dick’s Sporting Goods during the first quarter valued at $103,767,000. Norges Bank purchased a new stake in shares of Dick’s Sporting Goods during the fourth quarter valued at about $35,091,000. TIAA CREF Investment Management LLC increased its stake in shares of Dick’s Sporting Goods by 76.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,584,265 shares of the sporting goods retailer’s stock valued at $74,064,000 after buying an additional 686,073 shares during the period. TimesSquare Capital Management LLC purchased a new stake in shares of Dick’s Sporting Goods during the second quarter valued at about $23,666,000. Finally, GLG Partners LP purchased a new stake in shares of Dick’s Sporting Goods during the second quarter valued at about $19,853,000. Institutional investors own 72.16% 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 in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, as well as e-commerce Websites at www.DICKS.com, www.golfgalaxy.com, www.fieldandstreamshop.com and www.caliastudio.com.
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