Dicks Sporting Goods (NYSE:DKS) Stock Rating Lowered by Wells Fargo & Co

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Wells Fargo & Co cut shares of Dicks Sporting Goods (NYSE:DKS) from an outperform rating to a market perform rating in a report released on Monday, 24/7 WallStreet reports. Wells Fargo & Co currently has $39.00 target price on the sporting goods retailer’s stock.

DKS has been the subject of several other research reports. Goldman Sachs Group assumed coverage on shares of Dicks Sporting Goods in a research report on Thursday, July 11th. They issued a neutral rating and a $38.00 price target for the company. Bank of America set a $40.00 price target on shares of Dicks Sporting Goods and gave the company a hold rating in a research report on Thursday, May 30th. ValuEngine raised shares of Dicks Sporting Goods from a strong sell rating to a sell rating in a research report on Thursday, September 5th. Citigroup set a $37.00 price target on shares of Dicks Sporting Goods and gave the company a hold rating in a research report on Friday, August 23rd. Finally, TheStreet cut shares of Dicks Sporting Goods from a b rating to a c+ rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. Dicks Sporting Goods presently has a consensus rating of Hold and a consensus price target of $40.14.

NYSE:DKS opened at $37.54 on Monday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.17 and a current ratio of 1.28. The stock has a market capitalization of $3.42 billion, a P/E ratio of 11.59, a PEG ratio of 2.03 and a beta of 0.58. The company has a 50 day moving average price of $34.53 and a 200 day moving average price of $36.10. Dicks Sporting Goods has a fifty-two week low of $29.69 and a fifty-two week high of $41.21.

Dicks Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Thursday, August 22nd. The sporting goods retailer reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. Dicks Sporting Goods had a net margin of 3.64% and a return on equity of 16.96%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the company posted $1.20 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that Dicks Sporting Goods will post 3.39 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.275 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.93%. Dicks Sporting Goods’s payout ratio is 33.95%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bremer Bank National Association acquired a new stake in shares of Dicks Sporting Goods in the 1st quarter valued at $32,000. Signaturefd LLC raised its holdings in shares of Dicks Sporting Goods by 37.7% in the 2nd quarter. Signaturefd LLC now owns 1,986 shares of the sporting goods retailer’s stock valued at $69,000 after purchasing an additional 544 shares in the last quarter. Investors Research Corp raised its holdings in shares of Dicks Sporting Goods by 23.5% in the 2nd quarter. Investors Research Corp now owns 2,100 shares of the sporting goods retailer’s stock valued at $73,000 after purchasing an additional 400 shares in the last quarter. Clarus Wealth Advisors acquired a new stake in shares of Dicks Sporting Goods in the 2nd quarter valued at $81,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Dicks Sporting Goods in the 2nd quarter valued at $158,000. Institutional investors and hedge funds own 80.01% of the company’s stock.

About Dicks Sporting Goods

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, free league management services, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

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Analyst Recommendations for Dicks Sporting Goods (NYSE:DKS)

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