Traders Purchase High Volume of Dicks Sporting Goods Put Options (DKS)

Dicks Sporting Goods Inc (NYSE:DKS) saw some unusual options trading activity on Tuesday. Investors purchased 18,911 put options on the company. This is an increase of approximately 2,859% compared to the typical volume of 639 put options.

A number of brokerages have recently issued reports on DKS. Robert W. Baird boosted their target price on shares of Dicks Sporting Goods from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, November 28th. They noted that the move was a valuation call. ValuEngine raised shares of Dicks Sporting Goods from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. TheStreet raised shares of Dicks Sporting Goods from a “c+” rating to a “b-” rating in a research report on Wednesday, November 28th. Bank of America set a $40.00 target price on shares of Dicks Sporting Goods and gave the company a “hold” rating in a research report on Sunday, December 2nd. Finally, Argus boosted their target price on shares of Dicks Sporting Goods from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 11th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $41.11.

Shares of Dicks Sporting Goods stock opened at $36.50 on Wednesday. The stock has a market capitalization of $3.47 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.68 and a beta of 0.54. Dicks Sporting Goods has a 52-week low of $29.53 and a 52-week high of $39.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.61 and a quick ratio of 0.19.

Dicks Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Wednesday, November 28th. The sporting goods retailer reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.13. Dicks Sporting Goods had a net margin of 3.87% and a return on equity of 18.10%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. Dicks Sporting Goods’s revenue was down 4.5% compared to the same quarter last year. As a group, analysts anticipate that Dicks Sporting Goods will post 3.24 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nkcfo LLC bought a new stake in Dicks Sporting Goods during the fourth quarter worth about $31,000. Bremer Trust National Association bought a new stake in Dicks Sporting Goods during the fourth quarter worth about $36,000. Huntington National Bank lifted its position in Dicks Sporting Goods by 36.8% during the fourth quarter. Huntington National Bank now owns 1,779 shares of the sporting goods retailer’s stock worth $56,000 after purchasing an additional 479 shares during the period. Acadian Asset Management LLC lifted its position in Dicks Sporting Goods by 35.3% during the fourth quarter. Acadian Asset Management LLC now owns 2,839 shares of the sporting goods retailer’s stock worth $88,000 after purchasing an additional 741 shares during the period. Finally, Advisor Group Inc. lifted its position in Dicks Sporting Goods by 62.2% during the fourth quarter. Advisor Group Inc. now owns 3,198 shares of the sporting goods retailer’s stock worth $99,000 after purchasing an additional 1,226 shares during the period. 80.81% of the stock is owned by institutional investors and hedge funds.

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Dicks Sporting Goods Company Profile

Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

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