Citigroup reported on Thursday that they have reaffirmed both
their rating and their price target for sporting goods retailer,
Dicks Sporting Goods Inc( DKS ).
The firm reported that they have maintained their "Buy" rating
and $58 price target on DKS. This price target suggests a 18%
increase from the stock's current price of $47.17.
An analyst from the firm noted, "DKS announced changes today to
its e-commerce deal with 3rd party provider GSI Commerce, which was
acquired by eBay last year. The agreement, which was previously set
to expire in February 2024, is now ending January 2017. As a
reminder, DKS took over operating responsibility (merchandise
procurement, assortment, and pricing) in Feb 2009, while GSI has
remained responsible for web hosting, maintenance, fulfillment, and
Dicks Sporting Goods shares were mostly flat during premarket
trading Thursday. The stock is up 28% YTD.
The Bottom Line
Shares of Dicks Sporting Goods ( DKS ) have a
1.06% dividend yield, based on last night's closing stock price of
$47.17. The stock has technical support in the $42-$45 price area.
The stock is trading near the all-time highs of $52-$54 a
Dicks Sporting Goods Inc( DKS ) is not
recommended at this time, holding a Dividend.com DARS™ Rating of
3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well
as a detailed explanation of our ratings system here .
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