Dick’s Sporting Goods Stock Rating Lowered by Zacks (DKS)
Dick’s Sporting Goods (NYSE:DKS) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, StockRatingsNetwork reports. They currently have a $49.00 target price on the stock. Zacks‘ price objective would indicate a potential downside of 8.19% from the stock’s previous close.
Zacks‘ analyst wrote, “Based on lower-than-expected bottom-line results in two of the last three quarters, we have downgraded our long-term recommendation on DICK’s Sporting to Underperform. The company’s second-quarter fiscal 2013 earnings of $0.71 per share fell short of the company’s guidance as well as the Zacks Consensus Estimate of $0.74. The disappointing second-quarter results prompted DICK’s Sporting to lower its earnings and comps outlook for fiscal 2013, projecting earnings in the range of $2.60 to $2.65 per share and comps to be flat to up 1%. Moreover, the stock remains vulnerable to a sluggish economic recovery and cautious consumer spending. Risk of sourcing merchandise from overseas markets may prove detrimental to the company’s performance. Our bearish view on the stock is further justified by the decline in the Zacks Consensus Estimates, following dismal results.”
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Dick’s Sporting Goods (NYSE:DKS) in a research note to investors on Friday, September 20th. They now have a $59.00 price target on the stock, up previously from $58.00. Separately, analysts at Citigroup Inc. raised their price target on shares of Dick’s Sporting Goods (NYSE:DKS) to $63.00 in a research note to investors on Thursday, September 19th. They now have a “hold” rating on the stock. Finally, analysts at Credit Suisse raised their EPS on shares of Dick’s Sporting Goods (NYSE:DKS) in a research note to investors on Thursday, September 19th. They now have a “neutral” rating and a $56.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $57.09.
In other Dick’s Sporting Goods news, CAO Joseph Oliver unloaded 9,741 shares of Dick’s Sporting Goods stock on the open market in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $53.08, for a total value of $517,052.28. Following the completion of the transaction, the chief accounting officer now directly owns 63,060 shares in the company, valued at approximately $3,347,225. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Dick’s Sporting Goods (NYSE:DKS) traded up 0.82% on Friday, hitting $53.81. The stock had a trading volume of 352,453 shares. Dick’s Sporting Goods has a 52 week low of $44.24 and a 52 week high of $54.25. The stock has a 50-day moving average of $50.05 and a 200-day moving average of $50.10. The company has a market cap of $6.754 billion and a P/E ratio of 20.46.
Dick’s Sporting Goods (NYSE:DKS) last released its earnings data on Tuesday, August 20th. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Dick’s Sporting Goods will post $2.63 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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