Dick’s Sporting Goods Rating Lowered to Outperform at Imperial Capital (DKS)
Dick’s Sporting Goods (NYSE:DKS) was downgraded by Imperial Capital from an “outperform” rating to an “outperform” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $52.00 target price on the stock, down from their previous target price of $60.00. Imperial Capital’s price objective suggests a potential upside of 11.49% from the company’s current price.
The analysts wrote, “While we remain confident in the longer-term growth opportunity and see limited downside risk from current levels, we believe the challenging external environment and decelerating sales trends will likely limit upside to the stock in the intermediate term. We still consider Dick’s a best-of-breed retailer with talented management, an impressive track record of strong financial performance, and significant organic growth potential. We are lowering our 2013 and 2014 EPS estimates by $0.24 and $0.28 respectively, to $2.62 (+4%) and $3.05 (+16%) following weaker-than-anticipated 2Q results and a more cautious outlook overall.”
A number of other analysts have also recently weighed in on DKS. Analysts at UBS AG reiterated a “buy” rating on shares of Dick’s Sporting Goods in a research note to investors on Wednesday. They now have a $55.00 price target on the stock, down previously from $60.00. Separately, analysts at Sterne Agee reiterated a “buy” rating on shares of Dick’s Sporting Goods in a research note to investors on Wednesday. They now have a $58.00 price target on the stock. Finally, analysts at Janney Montgomery Scott cut their price target on shares of Dick’s Sporting Goods from $57.00 to $55.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock.
Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Dick’s Sporting Goods presently has an average rating of “Buy” and a consensus price target of $57.30.
Shares of Dick’s Sporting Goods (NYSE:DKS) traded down 0.36% during mid-day trading on Wednesday, hitting $46.472. 1,747,228 shares of the company’s stock traded hands. Dick’s Sporting Goods has a 1-year low of $44.24 and a 1-year high of $54.25. The stock’s 50-day moving average is $50.98 and its 200-day moving average is $49.84. The company has a market cap of $5.820 billion and a P/E ratio of 19.59. Dick’s Sporting Goods also was the recipient of unusually large options trading activity on Monday. Stock investors bought 6,950 put options on the stock. This is an increase of 216% compared to the average volume of 2,196 put options.
Dick’s Sporting Goods (NYSE:DKS) last released its earnings data on Tuesday, August 20th. The company reported $0.71 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.76 by $0.05. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company posted $0.65 earnings per share. Dick’s Sporting Goods’s revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that Dick’s Sporting Goods will post $2.83 earnings per share for the current fiscal year.
DICK’S Sporting Goods, Inc is a sports and fitness specialty omni-channel retailer offering a range of brand name sporting goods equipment, apparel and footwear in a specialty store environment.
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