Could Dicks Sporting Goods Inc Increase After Today’s Tip From Option Traders?

 Could Dicks Sporting Goods Inc Increase After Today's Tip From Option Traders?

In today’s session Dicks Sporting Goods Inc (DKS) recorded an unusually high (253) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious DKS decrease. With 253 contracts traded and 7164 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: DKS161021P00060000 closed last at: $2.45 or 31.9% down. About 183,057 shares traded hands. Dicks Sporting Goods Inc (NYSE:DKS) has risen 30.15% since March 7, 2016 and is uptrending. It has outperformed by 22.56% the S&P500.

Analysts await Dicks Sporting Goods Inc (NYSE:DKS) to report earnings on November, 15. They expect $0.41 EPS, down 8.89% or $0.04 from last year’s $0.45 per share. DKS’s profit will be $45.96M for 35.14 P/E if the $0.41 EPS becomes a reality. After $0.82 actual EPS reported by Dicks Sporting Goods Inc for the previous quarter, Wall Street now forecasts -50.00% negative EPS growth.

Dicks Sporting Goods Inc (NYSE:DKS) Ratings Coverage

Out of 23 analysts covering Dick’s Sporting Goods Inc. (NYSE:DKS), 15 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 65% are positive. $68 is the highest target while $38 is the lowest. The $54.24 average target is -5.88% below today’s ($57.63) stock price. Dick’s Sporting Goods Inc. has been the topic of 63 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Thursday, August 20 by SunTrust. On Wednesday, November 18 the stock rating was maintained by Suntrust Robinson with “Neutral”. The firm earned “Buy” rating on Friday, August 14 by Susquehanna. The firm has “Sector Perform” rating given on Wednesday, November 18 by RBC Capital Markets. Barclays Capital initiated Dicks Sporting Goods Inc (NYSE:DKS) rating on Wednesday, November 4. Barclays Capital has “Equal-Weight” rating and $50 price target. Citigroup maintained Dicks Sporting Goods Inc (NYSE:DKS) rating on Friday, May 20. Citigroup has “Buy” rating and $50 price target. M Partners initiated Dicks Sporting Goods Inc (NYSE:DKS) on Friday, April 29 with “Buy” rating. The company was maintained on Monday, August 10 by Credit Suisse. The firm earned “Buy” rating on Wednesday, August 17 by Citigroup. The firm has “Buy” rating given on Wednesday, March 9 by Monness Crespi & Hardt.

According to Zacks Investment Research, “Dick’s Sporting Goods is a leading full-line sporting goods retailer in the United States.”

Insitutional Activity: The institutional sentiment increased to 1.04 in Q2 2016. Its up 0.15, from 0.89 in 2016Q1. The ratio increased, as 53 funds sold all Dicks Sporting Goods Inc shares owned while 131 reduced positions. 56 funds bought stakes while 135 increased positions. They now own 80.43 million shares or 5.13% less from 84.78 million shares in 2016Q1.
Pointstate Lp owns 78,100 shares or 0.07% of their US portfolio. Bridgewater Assoc Lp last reported 8,400 shares in the company. Bnp Paribas Arbitrage Sa holds 0.01% or 45,682 shares in its portfolio. Broadview Advisors Limited Liability Co has 78,950 shares for 0.53% of their US portfolio. Verition Fund Mngmt Limited Co last reported 0.06% of its portfolio in the stock. The Missouri-based Benjamin F Edwards has invested 0% in Dicks Sporting Goods Inc (NYSE:DKS). Prudential Fincl has 0.03% invested in the company for 416,175 shares. Gulf Comml Bank (Uk) holds 30,933 shares or 0.02% of its portfolio. Tocqueville Asset Mgmt Lp has invested 0.01% of its portfolio in Dicks Sporting Goods Inc (NYSE:DKS). Nbw Capital Lc holds 66,675 shares or 0.92% of its portfolio. Moreover, Visium Asset Mngmt Lp has 0.18% invested in Dicks Sporting Goods Inc (NYSE:DKS) for 56,273 shares. Selway Asset Mgmt owns 30,400 shares or 0.88% of their US portfolio. Denver Inv Advisors Lc holds 0.05% of its portfolio in Dicks Sporting Goods Inc (NYSE:DKS) for 23,859 shares. The Pennsylvania-based Pnc Fincl Grp Inc has invested 0% in Dicks Sporting Goods Inc (NYSE:DKS). United Svcs Automobile Association last reported 0% of its portfolio in the stock.

Insider Transactions: Since August 23, 2016, the stock had 0 buys, and 1 sale for $2.16 million net activity. Willoughby Michele also sold $2.16 million worth of Dicks Sporting Goods Inc (NYSE:DKS) shares.

DICK’S Sporting Goods, Inc. is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores in the eastern United States. The company has a market cap of $6.46 billion. The Firm also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, as well as e-commerce Websites at www.DICKS.com, www.golfgalaxy.com, www.fieldandstreamshop.com and www.caliastudio.com. It has a 20.19 P/E ratio. The Firm offers hardlines, which include items, such as sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear.

DKS Company Profile

DICK’S Sporting Goods, Inc., incorporated on November 25, 1996, is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores in the eastern United States. The Firm also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, as well as e-commerce Websites at www.DICKS.com, www.golfgalaxy.com, www.fieldandstreamshop.com and www.caliastudio.com. The Firm offers hardlines, which include items, such as sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear. The Firm offers products to its clients through its retail stores and online.

More notable recent Dicks Sporting Goods Inc (NYSE:DKS) news were published by: Barrons.com which released: “Dick’s Sporting Goods Scores” on October 08, 2016, also Prnewswire.com with their article: “DICK’S Sporting Goods Announces Grand Opening Celebration in Yorktown Heights, NY” published on October 05, 2016, Prnewswire.com published: “DICK’S Sporting Goods Announces Grand Opening Celebration in Medford, OR” on September 22, 2016. More interesting news about Dicks Sporting Goods Inc (NYSE:DKS) were released by: Prnewswire.com and their article: “DICK’S Sporting Goods Announces Grand Opening Celebration in Reno, NV” published on September 28, 2016 as well as Prnewswire.com‘s news article titled: “DICK’S Sporting Goods Announces Grand Opening Celebration in Charlottesville, VA” with publication date: September 19, 2016.

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