Dick’s Sporting Goods Inc (DKS) Lowered to “Underperform” at Wolfe Research

Wolfe Research lowered shares of Dick’s Sporting Goods Inc (NYSE:DKS) from a peer perform rating to an underperform rating in a research note released on Wednesday. The firm currently has $20.00 price objective on the sporting goods retailer’s stock.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets set a $62.00 price objective on Dick’s Sporting Goods and gave the stock a buy rating in a research report on Thursday, July 6th. Canaccord Genuity reissued a buy rating and issued a $52.00 price objective on shares of Dick’s Sporting Goods in a research report on Friday, July 21st. Buckingham Research initiated coverage on Dick’s Sporting Goods in a research report on Monday, July 17th. They issued a buy rating and a $45.00 price objective on the stock. ValuEngine raised Dick’s Sporting Goods from a hold rating to a buy rating in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus reissued a buy rating and issued a $54.00 price objective on shares of Dick’s Sporting Goods in a research report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and five have issued a buy rating to the stock. Dick’s Sporting Goods has a consensus rating of Hold and an average target price of $36.23.

Dick’s Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.04). Dick’s Sporting Goods had a return on equity of 19.09% and a net margin of 3.74%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis.

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In other news, Director William J. Colombo acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average cost of $26.25 per share, for a total transaction of $525,000.00. Following the acquisition, the director now owns 323,224 shares of the company’s stock, valued at $8,484,630. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.09% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Dick’s Sporting Goods by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 6,802,340 shares of the sporting goods retailer’s stock worth $270,937,000 after purchasing an additional 135,991 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Dick’s Sporting Goods by 6.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 292,898 shares of the sporting goods retailer’s stock worth $14,253,000 after purchasing an additional 18,198 shares in the last quarter. Sciencast Management LP purchased a new position in shares of Dick’s Sporting Goods in the 2nd quarter worth about $299,000. Manning & Napier Advisors LLC boosted its holdings in shares of Dick’s Sporting Goods by 1,173.1% in the 2nd quarter. Manning & Napier Advisors LLC now owns 1,043,955 shares of the sporting goods retailer’s stock worth $41,580,000 after purchasing an additional 961,955 shares in the last quarter. Finally, Diversified Investment Strategies LLC boosted its holdings in shares of Dick’s Sporting Goods by 11.0% in the 2nd quarter. Diversified Investment Strategies LLC now owns 77,275 shares of the sporting goods retailer’s stock worth $3,078,000 after purchasing an additional 7,675 shares in the last quarter. Hedge funds and other institutional investors own 76.66% 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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