Dicks Sporting Goods Stock Rating Lowered by Credit Suisse (DKS)

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Dicks Sporting Goods (NYSE:DKS) was downgraded by analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $49.00 price objective on the stock, down from their previous price objective of $65.00. Credit Suisse’s price objective indicates a potential upside of 12.39% from the company’s current price.

The analysts wrote, “Our target price goes to $49, 15x our new 2015 EPS estimate of $3.32. Following yesterday’s sell off, the stock appears cheap, even on our revised 2015 number (at 13x), and expectations are now lower. The stock has also been able to bounce off of this level in the past. However, the roadmap to stronger comps and GMROI, two key drivers of this stock historically, is less clear now, and the comparisons get more difficult in 2H. In our view, that may push this investment story out into 2015.”

Shares of Dicks Sporting Goods (NYSE:DKS) opened at 43.60 on Wednesday. Dicks Sporting Goods has a 52 week low of $43.51 and a 52 week high of $58.87. The stock’s 50-day moving average is $52.45 and its 200-day moving average is $54.17. The company has a market cap of $5.400 billion and a price-to-earnings ratio of 16.21. Dicks Sporting Goods also saw some unusual options trading on Monday. Investors acquired 13,017 call options on the stock. This represents an increase of approximately 787% compared to the typical volume of 1,467 call options.

Dicks Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.53 by $0.03. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that Dicks Sporting Goods will post $3.07 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. downgraded shares of Dicks Sporting Goods from an “overweight” rating to a “neutral” rating in a research note on Wednesday. They now have a $50.00 price target on the stock, down previously from $63.00. Separately, analysts at Canaccord Genuity downgraded shares of Dicks Sporting Goods from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a $49.00 price target on the stock, down previously from $67.00. Finally, analysts at Goldman Sachs downgraded shares of Dicks Sporting Goods from a “conviction-buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $49.00 price target on the stock, down previously from $63.00. Fifteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Dicks Sporting Goods has an average rating of “Hold” and a consensus price target of $54.61.

DICK’S Sporting Goods, Inc is a sports and fitness specialty omni-channel retailer offering a range of brand name sporting goods equipment, apparel and footwear in a specialty store environment.

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