What Next for Dicks Sporting Goods Inc Stock After Today’s Bearish Options Activity?

 What Next for Dicks Sporting Goods Inc Stock After Today's Bearish Options Activity?

In today’s session Dicks Sporting Goods Inc (DKS) recorded an unusually high (519) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious DKS decrease. With 519 contracts traded and 24234 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: DKS161118P00055000 closed last at: $1.8 or 2.7% down. About 283,193 shares traded hands. Dicks Sporting Goods Inc (NYSE:DKS) has risen 24.69% since April 5, 2016 and is uptrending. It has outperformed by 22.73% the S&P500.

Analysts await Dicks Sporting Goods Inc (NYSE:DKS) to report earnings on November, 15. They expect $0.41 earnings per share, down 8.89% or $0.04 from last year’s $0.45 per share. DKS’s profit will be $47.56 million for 35.38 P/E if the $0.41 EPS becomes a reality. After $0.82 actual earnings per share 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 24 analysts covering Dick’s Sporting Goods Inc. (NYSE:DKS), 16 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 67% are positive. $68 is the highest target while $38 is the lowest. The $54.69 average target is -5.74% below today’s ($58.02) stock price. Dick’s Sporting Goods Inc. has been the topic of 64 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Canaccord Genuity maintained Dicks Sporting Goods Inc (NYSE:DKS) rating on Monday, November 16. Canaccord Genuity has “Hold” rating and $47 price target. The firm has “Equal-Weight” rating by Morgan Stanley given on Friday, May 20. The firm earned “Strong-Buy” rating on Wednesday, September 2 by Vetr. As per Wednesday, August 17, the company rating was maintained by Credit Suisse. SunTrust maintained it with “Neutral” rating and $58 target price in Thursday, August 20 report. The firm has “Hold” rating given on Tuesday, September 1 by Zacks. As per Wednesday, November 18, the company rating was maintained by UBS. Argus Research maintained Dicks Sporting Goods Inc (NYSE:DKS) on Tuesday, August 30 with “Buy” rating. As per Wednesday, March 9, the company rating was maintained by UBS. Citigroup maintained the shares of DKS in a report on Tuesday, August 2 with “Buy” rating.

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 improved, 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.
Schwab Charles Management Incorporated has invested 0.01% of its portfolio in Dicks Sporting Goods Inc (NYSE:DKS). Rothschild Asset Mngmt Incorporated holds 0.22% or 266,139 shares in its portfolio. Atlantic Tru Group Limited Liability Com reported 127,446 shares or 0.04% of all its holdings. Counselors Of Maryland Ltd Liability holds 0.07% of its portfolio in Dicks Sporting Goods Inc (NYSE:DKS) for 29,715 shares. Canandaigua Natl Bank Trust last reported 0.38% of its portfolio in the stock. Moreover, Robecosam Ag has 0.18% invested in Dicks Sporting Goods Inc (NYSE:DKS) for 44,650 shares. Parametric Associates Lc last reported 136,093 shares in the company. Lenox Wealth Mgmt Inc accumulated 1,217 shares or 0.04% of the stock. Denali Advsrs Limited holds 0.13% or 16,700 shares in its portfolio. Moon Mngmt Limited Partnership has 16,659 shares for 0.29% of their US portfolio. Cipher Limited Partnership last reported 0.09% of its portfolio in the stock. South Dakota Inv Council holds 0.18% of its portfolio in Dicks Sporting Goods Inc (NYSE:DKS) for 185,499 shares. The Pennsylvania-based Glenmede Tru Na has invested 0.01% in Dicks Sporting Goods Inc (NYSE:DKS). Mitsubishi Ufj And Banking Corporation owns 186,954 shares or 0.02% of their US portfolio. Credit Suisse Ag accumulated 0.01% or 287,678 shares.

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

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 $6.73 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 20.32 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: Prnewswire.com which released: “DICK’S Sporting Goods Third Quarter Results Call Scheduled for November 15th” on November 08, 2016, also Usnews.com with their article: “4 Things to Know When Buying Dicks Sporting Goods Inc. Stock (DKS)” published on October 21, 2016, Businessinsider.com published: “Dick’s Sporting Goods is trying to buy bankrupt Golfsmith” on October 18, 2016. More interesting news about Dicks Sporting Goods Inc (NYSE:DKS) were released by: Wsj.com and their article: “Dick’s Sporting Goods Reports Surprise Increase in Quarterly Financial Results” published on August 16, 2016 as well as Prnewswire.com‘s news article titled: “DICK’S Sporting Goods Announces Grand Opening Celebration in Huntington, NY” with publication date: September 19, 2016.

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