Stock Market Watch

Oppenheimer Lowers Rating on Dick’s Sporting Goods (DKS)

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Oppenheimer on Friday cut its price target on Dick’s Sporting Goods (NYSE: DKS) to $44.00 from $56 and slashed the rating from “outperform” to “market-perform”

The equity research firm cited concerns over recent weakness in sales, adding that this downtrend might continue as the sporting goods chain “contends with the after-effects of unfavorable weather and a number of acute product issues throughout its stores.”

Earlier on Wednesday, Aug. 21, equity research analysts at Deutsche Bank reaffirmed a “buy” rating on the stock but cut the price target to $52 from $57. On the same day, analysts at Citigroup Inc. lowered the price target on the stock to $54. Separately, analysts at UBS AG reaffirmed a ”buy” rating on the stock but slashed the price target to $55 from $60.

Currently, four equity research analysts keep a “hold” rating; fourteen analysts have given a “buy” rating while one analyst has assigned a “strong buy” rating on the stock. The average price target currently is $56.43.

The Company last week handed weaker-than-expected fiscal second quarter results.

Adjusted earnings stood at 71 cents a share, which was 5 cents below analysts’ consensus estimate, according to a poll conducted by Thomson Reuters.

Revenue climbed 6.5% to $1.50 billion but missed analysts’ expectation for $1.58 billion.








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Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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