Dicks Sporting Goods Stock Rating Lowered by Credit Suisse (DKS)
Dicks Sporting Goods (NYSE:DKS) was downgraded by stock analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $49.00 target price on the stock, down from their previous target price of $65.00. Credit Suisse’s price objective suggests a potential upside of 12.39% from the company’s current price.
The analysts wrote, “Our target price goes to $49, 15x our new 2015 EPS estimate of $3.32. Following yesterday’s sell off, the stock appears cheap, even on our revised 2015 number (at 13x), and expectations are now lower. The stock has also been able to bounce off of this level in the past. However, the roadmap to stronger comps and GMROI, two key drivers of this stock historically, is less clear now, and the comparisons get more difficult in 2H. In our view, that may push this investment story out into 2015.”
Dicks Sporting Goods (NYSE:DKS) traded down 1.90% during mid-day trading on Wednesday, hitting $42.77. The stock had a trading volume of 4,491,692 shares. Dicks Sporting Goods has a one year low of $43.51 and a one year high of $58.87. The stock has a 50-day moving average of $52.45 and a 200-day moving average of $54.17. The company has a market cap of $5.297 billion and a P/E ratio of 16.21. Dicks Sporting Goods also saw some unusual options trading on Monday. Traders acquired 13,017 call options on the company. This is an increase of approximately 787% compared to the typical daily volume of 1,467 call options.
Dicks Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, May 20th. The company reported $0.50 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.53 by $0.03. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company posted $0.48 earnings per share. Dicks Sporting Goods’s revenue was up 7.9% compared to the same quarter last year. On average, analysts predict that Dicks Sporting Goods will post $3.07 earnings per share for the current fiscal year.
DKS has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. downgraded shares of Dicks Sporting Goods from an “overweight” rating to a “neutral” rating in a research note on Wednesday. They now have a $50.00 price target on the stock, down previously from $63.00. Separately, analysts at Canaccord Genuity downgraded shares of Dicks Sporting Goods from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a $49.00 price target on the stock, down previously from $67.00. Finally, analysts at Goldman Sachs downgraded shares of Dicks Sporting Goods from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $49.00 price target on the stock, down previously from $63.00. Fifteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $53.09.
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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