JPMorgan analyst Christopher Horvers downgraded Dick's Sporting Goods (NYSE: DKS) from Overweight to Neutral with a price target of $41.00 (from $46.00).

The analyst believes the risk/reward is becoming more balanced following the recent performance over the past 12 months and therefore steps to the sidelines.

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 $37.26 yesterday.