Dick's Sporting Goods (DKS) Comp Peak Was Likely 3Q - Raymond James

November 22, 2019 7:54 AM EST
Get Alerts DKS Hot Sheet
Price: $95.92 +4.60%

Rating Summary:
    24 Buy, 22 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 68
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Raymond James analyst Matthew McClintock reiterated an Underperform rating on Dick's Sporting Goods (NYSE: DKS) on the belief that the 25% since bottoming in mid-August was based on hope that the company can sustainably comp positively north of 3.0% and that with a better topline outlook, operating margin expansion is on the horizon.

The analyst stated "This view has been fueled by DKS’s better than expected +3.2% comp result in 2Q19 as well channel checks indicating this strength has continued into 3Q19. To wit, we believe expectations are for as high of a comp as as 4.5-5.0% for 3Q19 (well above consensus of 2.9%). While we acknowledge current trends could very well be ahead of consensus expectations, we believe that this is largely priced into the stock. Furthermore, we believe 3Q19 likely represents a “top” for comps and that the topline will likely decelerate into 2020 (against sequentially toughening compares), thus creating a very difficult setup post the quarter".

For an analyst ratings summary and ratings history on Dick's Sporting Goods click here. For more ratings news on Dick's Sporting Goods click here.

Shares of Dick's Sporting Goods closed at $39.40 yesterday.



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