DICK’S Sporting Goods (NYSE:DKS) Rating Lowered to Reduce at Gordon Haskett

Gordon Haskett lowered shares of DICK’S Sporting Goods (NYSE:DKS) from a buy rating to a reduce rating in a report issued on Friday morning, MarketBeat.com reports. The brokerage currently has $170.00 target price on the sporting goods retailer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird cut their price objective on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Loop Capital cut their price objective on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a research note on Thursday, March 13th. Argus upped their price objective on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Barclays cut their price objective on shares of DICK’S Sporting Goods from $254.00 to $223.00 and set an “overweight” rating for the company in a research note on Monday, May 12th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $229.79.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS opened at $184.01 on Friday. The company’s fifty day moving average price is $192.01 and its 200-day moving average price is $211.50. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 2.47 and a beta of 1.16. DICK’S Sporting Goods has a one year low of $166.37 and a one year high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.85 EPS. On average, equities research analysts anticipate that DICK’S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods announced that its board has approved a stock buyback program on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the sporting goods retailer to purchase up to 18.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $1.2125 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $4.85 annualized dividend and a yield of 2.64%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

Institutional Investors Weigh In On DICK’S Sporting Goods

Institutional investors and hedge funds have recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new stake in shares of DICK’S Sporting Goods in the 4th quarter worth about $27,000. New Wave Wealth Advisors LLC purchased a new stake in shares of DICK’S Sporting Goods in the 4th quarter worth about $28,000. Ancora Advisors LLC purchased a new stake in shares of DICK’S Sporting Goods in the 4th quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in shares of DICK’S Sporting Goods in the 4th quarter worth about $30,000. Finally, Sound Income Strategies LLC lifted its position in shares of DICK’S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after purchasing an additional 118 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.