Dick’s Sporting Goods Inc (NYSE:DKS) was downgraded by Bank of America Corporation from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, The Fly reports.

DKS has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Dick’s Sporting Goods from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Stifel Nicolaus set a $54.00 price target on shares of Dick’s Sporting Goods and gave the stock a “buy” rating in a report on Wednesday, May 17th. Credit Suisse Group set a $44.00 price target on shares of Dick’s Sporting Goods and gave the stock a “hold” rating in a report on Monday, August 7th. BidaskClub downgraded shares of Dick’s Sporting Goods from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, Telsey Advisory Group downgraded shares of Dick’s Sporting Goods from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $52.00 to $40.00 in a report on Monday, July 24th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have given a buy rating to the stock. Dick’s Sporting Goods currently has a consensus rating of “Hold” and a consensus target price of $55.09.

Shares of Dick’s Sporting Goods (NYSE DKS) traded down 18.79% during trading on Tuesday, hitting $28.35. 13,004,075 shares of the stock traded hands. Dick’s Sporting Goods has a 1-year low of $28.35 and a 1-year high of $62.88. The stock has a 50 day moving average price of $37.46 and a 200-day moving average price of $44.85. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 10.98 and a beta of 0.47. Dick’s Sporting Goods also was the recipient of unusually large options trading activity on Monday. Traders purchased 9,392 put options on the company. This is an increase of 361% compared to the average volume of 2,036 put options.

Dick’s Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.04. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Dick’s Sporting Goods had a return on equity of 18.61% and a net margin of 3.57%. Dick’s Sporting Goods’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. Equities analysts forecast that Dick’s Sporting Goods will post $3.64 EPS for the current year.

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Hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Dick’s Sporting Goods by 6.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 292,898 shares of the sporting goods retailer’s stock valued at $14,253,000 after buying an additional 18,198 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Dick’s Sporting Goods by 16.5% in the first quarter. Baird Financial Group Inc. now owns 63,312 shares of the sporting goods retailer’s stock valued at $3,081,000 after buying an additional 8,984 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in shares of Dick’s Sporting Goods by 1,173.1% in the second quarter. Manning & Napier Advisors LLC now owns 1,043,955 shares of the sporting goods retailer’s stock valued at $41,580,000 after buying an additional 961,955 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Dick’s Sporting Goods by 1,779.5% in the first quarter. Lazard Asset Management LLC now owns 70,782 shares of the sporting goods retailer’s stock valued at $3,443,000 after buying an additional 67,016 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Dick’s Sporting Goods during the first quarter valued at about $1,468,000. 76.35% of the stock is owned by institutional investors and hedge funds.

About Dick’s Sporting Goods

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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Analyst Recommendations for Dick`s Sporting Goods (NYSE:DKS)

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