Oppenheimer Sticks to Its Hold Rating for Dick’s Sporting Goods

By Ryan Adsit

In a report released today, Brian Nagel from Oppenheimer reiterated a Hold rating on Dick’s Sporting Goods (NYSE: DKS). The company’s shares closed yesterday at $47.57.

Nagel noted:

“The soft-ish Q1 (Apr.) results that Dick’s Sporting Goods (DKS) reported today are likely to further stoke investor concerns of moderating top-line momentum at the chain. In Q1 (Apr.), comp sales rose just 2.4% vs. guidance for +3-4%, suggesting the second consecutive quarter of moderating comp growth following a peak of +5.2% in Q316 (Oct.). Weather likely played a role in softer sales at DKS. But, consistent with our downgrade of shares from a few months ago (Feb. 12th at $49.79), we are worried that the benefits of outsized market share gains in the space might be waning. At current run rates, comps at DKS could turn negative in 2H17.”

According to TipRanks.com, Nagel is a 3-star analyst with an average return of 1.5% and a 50.8% success rate. Nagel covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Advance Auto Parts, and Lumber Liquidators.

Dick’s Sporting Goods has an analyst consensus of Moderate Buy, with a price target consensus of $60.33.

The company has a one year high of $62.88 and a one year low of $37.96. Currently, Dick’s Sporting Goods has an average volume of 2.87M.

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Dick’s Sporting Goods, Inc. engages in the retail of extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.