Dick’s Sporting Goods (NYSE:DKS) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Monday, Stock Ratings Network reports. The firm currently has a $59.00 price objective on the stock. Morgan Stanley’s price target points to a potential upside of 16.37% from the company’s current price.
The analysts wrote, “DKS is an undervalued growth story that will take shape in 2014 as capex investments and margin initiatives bear fruit. Near-term challenges appear reflected at 15x 2014e P/E, and DKS is a relatively cheap way to gain exposure to a broader health and wellness trend. We set a $59 price target. DKS shares have underperformed consumer discretionary by 1,800 bps YTD and 3,000 bps over the past 12 months. While 2Q results are likely to be underwhelming, we believe this is well-known and creates an attractive entry point for a fundamentally sound medium-term story. While not without risks, our $59 PT has 16% upside with a favorable risk reward skew (50% to bull, 37% to bear).”
A number of other firms have also recently commented on DKS. Analysts at RBC Capital initiated coverage on shares of Dick’s Sporting Goods in a research note to investors on Friday. They set a “sector perform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Dick’s Sporting Goods in a research note to investors on Wednesday, July 17th. They now have a $53.00 price target on the stock. Finally, analysts at Janney Montgomery Scott raised their EPS on shares of Dick’s Sporting Goods in a research note to investors on Wednesday, July 10th. They now have a $57.00 price target on the stock.
Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Dick’s Sporting Goods has an average rating of “Buy” and an average target price of $58.21.
Dick’s Sporting Goods (NYSE: DKS) traded up 1.70% on Monday, hitting $51.56. Dick’s Sporting Goods has a 52-week low of $44.24 and a 52-week high of $54.25. The stock’s 50-day moving average is currently $50.8. The company has a market cap of $6.457 billion and a price-to-earnings ratio of 21.29.
Dick’s Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Dick’s Sporting Goods has set its Q2 guidance at $0.75-0.77 EPS and its FY14 guidance at $2.84-2.86 EPS. On average, analysts predict that Dick’s Sporting Goods will post $2.85 earnings per share for the current fiscal year.
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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