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Dick’s Sporting Goods Downgraded

By Warren Paige

Equity research firm, Oppenheimer downgraded Dick’s Sporting Goods (NYSE: DKS) to a “market-perform” from a “outperform”, citing continuation of weak sales trend and certain “acute products issues” which the company will have to pay attention to. The price target on the stock was slashed to $44 from $56. Earlier on Wednesday, Deutsche Bank reiterated a “buy” rating on the stock but cut the price target to $52 from $57 while analysts at Citigroup Inc. cut price target to $54.  The Company on Tuesday handed weaker-than-expected fiscal second quarter results.

August 23rd, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.