Dick’s Sporting Goods upgraded to hold from sell at CFRA, citing positive sales trends

CFRA upgraded the stock of Dick’s Sporting Goods Inc. to hold from sell on Thursday, and raised its 12-month price target by $7 to $34.”We raise our opinion given recent positive sales trends reported by some footwear and apparel brands sold at DKS,” analyst Victor Ahluwalia wrote in a note. “Longer term, we remain concerned around margin pressure given Dick’s price match guarantee, e-commerce currently being margin dilutive and the viability of private label.” Earlier, Dick’s said it is raising its quarterly dividend by 32% to 22.5 cents a share from 17 cents a share. The new dividend will be payable on March 30 to shareholders of record as of March 9. Shares were trading down 0.9%, and are down 33% in the last 12 months, while the S&P 500 has gained 15%.

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