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All The Sell-Side Reactions To Dick's Sporting Goods Q3

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All The Sell-Side Reactions To Dick's Sporting Goods Q3

Dicks Sporting Goods Inc (NYSE: DKS) reported expectation-exceeding earnings on Tuesday. The share price, however, fell on conservative Q4 guidance.

While investors reacted to the guidance in Tuesday's trading, analysts looked further. The gained market share from The Sports Authority and other bankruptcies are just beginning to materialize, according to the Street.

Sell-Side Reactions From The Street

BMO Capital Markets: Analyst Wayne Hood maintains his Outperform rating while raising his target from $65 to $67.

“Looking ahead, we see The Sports Authority market share gains, the Golfsmith acquisition, full-service footwear decks, and growth in private brands as drivers behind revenue growth,” said Hood.

Canaccord Genuity: Analyst Camillo Lyon maintains a Buy rating and $70 price target, advising investors to buy the weakness.

“We expect the market share gains (in-store and online) from TSA, Golfsmith and other bankruptcies to continue (and likely accelerate) in Q4 and 2017 (DKS is opening the remaining 19 of the 22 TSA stores it took on in 1Q17, in addition to the 30 Golfsmith stores DKS is planning to open by end of Q4),” said Lyon.

Citi Research: Analyst Kate McShane maintains a Buy rating while lowering her target price from $68 to $66.

“We continue to believe that DKS is well-positioned to capture market share and that longer term market and margin expansion potential make DKS an attractive Buy,” said McShane.

At last check, Dick's shares were up 2.4 percent at $58.02.

Latest Ratings for DKS

DateFirmActionFromTo
Jul 2019Initiates Coverage OnNeutral
Apr 2019ReinstatesNeutral
Dec 2018MaintainsBuyBuy

View More Analyst Ratings for DKS
View the Latest Analyst Ratings

Posted-In: Analyst Color Earnings Long Ideas News Guidance Price Target Reiteration Analyst Ratings Best of Benzinga

 

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