Buckingham Research Initiates Coverage on Dick’s Sporting Goods Inc (NYSE:DKS)

Stock analysts at Buckingham Research started coverage on shares of Dick’s Sporting Goods Inc (NYSE:DKS) in a note issued to investors on Monday, July 17th, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $45.00 price target on the sporting goods retailer’s stock. Buckingham Research’s price objective would suggest a potential upside of 32.35% from the company’s current price.

Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of Dick’s Sporting Goods from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. ValuEngine raised shares of Dick’s Sporting Goods from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Cleveland Research lowered shares of Dick’s Sporting Goods from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. BMO Capital Markets set a $62.00 price target on shares of Dick’s Sporting Goods and gave the company a “buy” rating in a research report on Thursday, July 6th. Finally, Canaccord Genuity set a $54.00 price target on shares of Dick’s Sporting Goods and gave the company a “buy” rating in a research report on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have given a buy rating to the company’s stock. Dick’s Sporting Goods presently has a consensus rating of “Hold” and a consensus target price of $55.09.

Shares of Dick’s Sporting Goods (DKS) traded up 0.56% on Monday, reaching $34.00. 3,627,312 shares of the company were exchanged. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 13.17 and a beta of 0.47. The company’s 50-day moving average is $37.71 and its 200-day moving average is $45.22. Dick’s Sporting Goods has a 52 week low of $33.32 and a 52 week high of $62.88.

Dick’s Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, May 16th. The sporting goods retailer reported $0.54 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.54. Dick’s Sporting Goods had a net margin of 3.57% and a return on equity of 18.61%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the firm earned $0.50 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts expect that Dick’s Sporting Goods will post $3.65 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB raised its position in shares of Dick’s Sporting Goods by 0.5% in the second quarter. Nordea Investment Management AB now owns 5,106 shares of the sporting goods retailer’s stock worth $203,000 after buying an additional 26 shares during the last quarter. Somerset Trust Co raised its position in shares of Dick’s Sporting Goods by 0.4% in the second quarter. Somerset Trust Co now owns 7,233 shares of the sporting goods retailer’s stock worth $288,000 after buying an additional 30 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Dick’s Sporting Goods by 0.3% in the first quarter. LS Investment Advisors LLC now owns 9,562 shares of the sporting goods retailer’s stock worth $465,000 after buying an additional 31 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Dick’s Sporting Goods by 0.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 40,750 shares of the sporting goods retailer’s stock worth $1,983,000 after buying an additional 130 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Dick’s Sporting Goods by 0.8% in the second quarter. US Bancorp DE now owns 22,635 shares of the sporting goods retailer’s stock worth $901,000 after buying an additional 174 shares during the last quarter. Institutional investors own 79.11% of the company’s stock.

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.

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