Dicks Sporting Goods (DKS) Raised to Buy at Citigroup

Citigroup upgraded shares of Dicks Sporting Goods (NYSE:DKS) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat reports. Citigroup currently has $35.00 price objective on the sporting goods retailer’s stock, up from their prior price objective of $28.00.

DKS has been the topic of a number of other reports. Wells Fargo & Company set a $29.00 price target on shares of Dicks Sporting Goods and gave the company a hold rating in a research report on Wednesday, October 11th. BMO Capital Markets restated a buy rating and set a $37.00 target price on shares of Dicks Sporting Goods in a report on Thursday, November 2nd. Cowen restated a hold rating and set a $28.00 target price on shares of Dicks Sporting Goods in a report on Thursday, September 28th. Credit Suisse Group dropped their target price on shares of Dicks Sporting Goods from $28.00 to $24.00 and set a neutral rating on the stock in a report on Wednesday, November 15th. Finally, UBS decreased their price target on shares of Dicks Sporting Goods from $29.00 to $28.00 and set a neutral rating for the company in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $32.28.

Shares of Dicks Sporting Goods (NYSE:DKS) traded down $0.43 during trading hours on Tuesday, hitting $29.67. 2,356,220 shares of the company were exchanged, compared to its average volume of 3,831,703. The firm has a market cap of $3,232.83, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.57. The company has a quick ratio of 0.25, a current ratio of 1.61 and a debt-to-equity ratio of 0.28. Dicks Sporting Goods has a 1-year low of $23.88 and a 1-year high of $56.25.

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, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. Dicks Sporting Goods had a net margin of 3.54% and a return on equity of 17.95%. Dicks Sporting Goods’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. equities analysts anticipate that Dicks Sporting Goods will post 2.97 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.68 dividend on an annualized basis and a yield of 2.29%. Dicks Sporting Goods’s dividend payout ratio (DPR) is 25.09%.

A number of hedge funds have recently added to or reduced their stakes in DKS. TIAA CREF Investment Management LLC boosted its position in Dicks Sporting Goods by 263.8% during the second quarter. TIAA CREF Investment Management LLC now owns 5,634,221 shares of the sporting goods retailer’s stock worth $224,411,000 after purchasing an additional 4,085,414 shares during the period. Okumus Fund Management Ltd. acquired a new stake in shares of Dicks Sporting Goods during the third quarter worth $46,406,000. Northern Trust Corp lifted its holdings in shares of Dicks Sporting Goods by 54.6% during the second quarter. Northern Trust Corp now owns 3,791,180 shares of the sporting goods retailer’s stock worth $151,003,000 after buying an additional 1,339,379 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Dicks Sporting Goods by 316.5% during the third quarter. Prudential Financial Inc. now owns 1,158,619 shares of the sporting goods retailer’s stock worth $31,295,000 after buying an additional 880,464 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Dicks Sporting Goods by 58.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,717,065 shares of the sporting goods retailer’s stock worth $46,379,000 after buying an additional 636,186 shares in the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

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Dicks 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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