Dick’s Sporting Goods Inc (NYSE:DKS)‘s stock had its “equal weight” rating restated by investment analysts at Morgan Stanley in a report released on Wednesday. They currently have a $30.00 target price on the sporting goods retailer’s stock, down from their previous target price of $55.00. Morgan Stanley’s price objective would suggest a potential upside of 8.30% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Forward View downgraded shares of Dick’s Sporting Goods from a “buy” rating to a “sell” rating in a research note on Wednesday. Barclays PLC reissued an “equal weight” rating and set a $30.00 target price (down from $46.00) on shares of Dick’s Sporting Goods in a research note on Wednesday. BMO Capital Markets set a $37.00 target price on shares of Dick’s Sporting Goods and gave the company an “outperform” rating in a research note on Wednesday. Goldman Sachs Group, Inc. (The) downgraded shares of Dick’s Sporting Goods from a “buy” rating to a “neutral” rating and cut their target price for the company from $49.00 to $30.00 in a research note on Wednesday. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $30.00 target price (down from $57.00) on shares of Dick’s Sporting Goods in a research note on Wednesday. Four analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $43.74.

Dick’s Sporting Goods (DKS) traded up 3.09% during midday trading on Wednesday, hitting $27.70. The stock had a trading volume of 14,156,841 shares. Dick’s Sporting Goods has a one year low of $26.32 and a one year high of $62.88. The stock has a market cap of $3.12 billion, a PE ratio of 10.73 and a beta of 0.47. The firm has a 50 day moving average price of $37.10 and a 200 day moving average price of $44.68. Dick’s Sporting Goods also saw some unusual options trading activity on Monday. Investors purchased 9,392 put options on the stock. This is an increase of 361% compared to the typical daily volume of 2,036 put options.

Dick’s Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by $0.04. Dick’s Sporting Goods had a net margin of 3.57% and a return on equity of 18.61%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm earned $0.82 earnings per share. Dick’s Sporting Goods’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts expect that Dick’s Sporting Goods will post $3.63 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in DKS. Public Employees Retirement System of Ohio raised its position in shares of Dick’s Sporting Goods by 56.3% in the second quarter. Public Employees Retirement System of Ohio now owns 60,311 shares of the sporting goods retailer’s stock worth $2,402,000 after buying an additional 21,718 shares in the last quarter. Delphi Management Inc. MA bought a new position in shares of Dick’s Sporting Goods during the second quarter worth approximately $1,874,000. Castleark Management LLC raised its position in shares of Dick’s Sporting Goods by 40.6% in the second quarter. Castleark Management LLC now owns 724,257 shares of the sporting goods retailer’s stock worth $28,847,000 after buying an additional 209,141 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Dick’s Sporting Goods by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 130,095 shares of the sporting goods retailer’s stock worth $5,182,000 after buying an additional 1,994 shares in the last quarter. Finally, NBW Capital LLC raised its position in shares of Dick’s Sporting Goods by 1.8% in the second quarter. NBW Capital LLC now owns 67,996 shares of the sporting goods retailer’s stock worth $2,708,000 after buying an additional 1,186 shares in the last quarter. 76.35% of the stock is owned by institutional investors and hedge funds.

Dick’s Sporting Goods Company Profile

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 primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.

Analyst Recommendations for Dick`s Sporting Goods (NYSE:DKS)

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