Dicks Sporting Goods Inc (NYSE:DKS) was the target of unusually large options trading on Tuesday. Stock traders bought 10,282 put options on the stock. This represents an increase of approximately 1,330% compared to the typical daily volume of 719 put options.
DKS has been the topic of several recent analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $37.00 price target on shares of Dicks Sporting Goods in a research note on Thursday, November 2nd. Forward View upgraded Dicks Sporting Goods from a “sell” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Thursday, November 16th. Citigroup upgraded Dicks Sporting Goods from a “neutral” rating to a “buy” rating and upped their price objective for the company from $28.00 to $35.00 in a research note on Tuesday, December 19th. Deutsche Bank upgraded Dicks Sporting Goods from a “hold” rating to a “buy” rating and upped their price objective for the company from $33.00 to $39.00 in a research note on Friday, January 12th. Finally, Buckingham Research upgraded Dicks Sporting Goods from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.88.
Hedge funds have recently modified their holdings of the stock. Cerebellum GP LLC bought a new position in Dicks Sporting Goods in the 4th quarter worth approximately $122,000. Toronto Dominion Bank grew its holdings in Dicks Sporting Goods by 169.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,657 shares of the sporting goods retailer’s stock worth $126,000 after buying an additional 2,927 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in Dicks Sporting Goods in the 3rd quarter worth approximately $132,000. Delpha Capital Management LLC bought a new position in Dicks Sporting Goods in the 4th quarter worth approximately $132,000. Finally, State of Alaska Department of Revenue bought a new position in Dicks Sporting Goods in the 4th quarter worth approximately $188,000. 74.20% of the stock is owned by institutional investors and hedge funds.
Dicks Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, November 14th. The sporting goods retailer reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. Dicks Sporting Goods had a return on equity of 17.95% and a net margin of 3.54%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the prior year, the firm earned $0.48 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. research analysts forecast that Dicks Sporting Goods will post 2.99 EPS for the current year.
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About Dicks 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 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.
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