Canaccord Genuity Lowers Dick's Sporting Goods Inc (DKS) to Hold

Marcus Newton
August 16, 2017

However, the company is persistently gaining from the consolidation in the sporting goods space, and opportunities arising from the liquidation of rival firms.

Shares of many brick-and-mortar retailers have tumbled this year as increased competition from e-commerce giants like have cut into profits. "Most of the world is showing a dramatic improvement in corporate profitability and earnings growth, which has been pretty rare".

Also in economic news, the Empire State manufacturing index surged to 25.2 from 9.8 in July, beating expectations to remain unchanged at 9.8. The company and its competitors are facing weakening demand because vehicle sales are slowing down from their recent record pace. The analysts estimated sales for the higher end at 1986.2 million and lower end at 1890.4 million while the year ago reported sale was 1874.38 million. The firm set a "buy" rating and a $45.00 price target on the sporting goods retailer's stock.

Dick's Sporting Goods (NYSE:DKS) opened at 26.87 on Friday.

The stock closed the last trade at $34.907, exchanging hands with 4065728 shares contrast to its average daily volume of 2.78M shares. This analysis is based on historical data about the stock's performance given the overall trends of the market and particular indicators within the market.

Among 7 analysts covering Columbia Pipeline Group Inc (NYSE:CPGX), 0 have Buy rating, 1 Sell and 6 Hold. Timessquare Cap Management Lc holds 0.22% of its portfolio in Dicks Sporting Goods Inc (NYSE:DKS) for 623,900 shares. Brean Capital maintained Dicks Sporting Goods Inc (NYSE:DKS) rating on Wednesday, March 9.

Flex Ltd. (FLEX) stock price yielded a positive 26.43% lead over its 52-week low and communicated declining move of -11.66% over its 52-week high.

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21 number of analysts have estimated the sales of the company for the quarter, analysts estimated mean sale target of 2473.71 million while high and low sale targets are estimated at 2514.8 million and 2408.74 million respectively. Now the P/E of Dick's Sporting Goods Inc. Fincl Architects invested 0% in Dicks Sporting Goods Inc (NYSE:DKS).

Dick's Sporting Goods (NYSE:DKS) reports comparable sales edged up 0.1% in Q2 to miss the consensus estimate for a 1.8% rise. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. The Return on Equity (ROE) value stands at 15.2%. The firm's revenue for the quarter was up 9.6% compared to the same quarter a year ago.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company.

Several analysts have released their opinion on Dick's Sporting Goods, Inc. James Investment Research Inc. now owns 2,933 shares of the sporting goods retailer's stock worth $143,000 after buying an additional 200 shares during the last quarter. (NYSE:DKS). The big banks are holding 99.00% of the shares while company insiders are clinging to 5.60%. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Dick's Sporting Goods by 30.1% in the second quarter. Renaissance Technologies LLC raised its stake in shares of Dick's Sporting Goods by 424.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,823 shares of the sporting goods retailer's stock valued at $113,000 after buying an additional 653 shares in the last quarter.

Blackrock Investment Management Llc increased Dicks Sporting Goods Inc (DKS) stake by 15.83% reported in 2016Q4 SEC filing.

Sales of hunting goods, licensed products and athletic apparel undermined Dick's during the period, offsetting growth in footwear, golf and online sales.

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