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

By Jason Carr

In a report released today, Brian Nagel from Oppenheimer maintained a Hold rating on Dick’s Sporting Goods (NYSE: DKS). The company’s shares opened today at $30.92.

Nagel commented:

“We have for a while maintained a rather cautious stance toward prospects for Dick’s Sporting Goods (DKS) and its shares. The underlying, weakish Q4 (Jan. 2018) results, and still subdued, updated FY18 (Jan. 2019) guidance that DKS outlined earlier today, very much keep us on the sidelines with the story. As we have written, we simply view it as way too early to bet upon a successful turnaround at DKS. Competitive pressures within the category continue to intensify, all the while the DKS operating infrastructure remains inefficient, in an increasingly omni-channel backdrop.”

According to TipRanks.com, Nagel is a 4-star analyst with an average return of 4.3% and a 57.6% success rate. Nagel covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Lululemon Athletica Inc, and Advance Auto Parts.

Currently, the analyst consensus on Dick’s Sporting Goods is Moderate Buy and the average price target is $35.79, representing a 15.8% upside.

In a report issued on March 9, Canaccord Genuity also maintained a Hold rating on the stock with a $33 price target.

Based on Dick’s Sporting Goods’ latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $1.94 billion and quarterly net profit of $36.91 million. In comparison, last year the company earned revenue of $2.48 billion and had a net profit of $90.19 million.

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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.