Long Position on DKS @ $48.25 on 12/13/2019 (Momentum)

DICK'S Sporting Goods, Inc. (DKS) operates as a sporting goods retailer primarily in the eastern United States.

It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.

The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as DICK'S Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps, free league management services, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

As of August 3, 2019, it operated 727 DICK'S Sporting Goods stores in 47 states, 95 Golf Galaxy stores in 32 states, and 35 Field & Stream stores in 16 states. Shares have formed a bullish "flag" following the company's latest quarterly report on November 26th. Dick's reported 3rd Quarter October 2019 earnings of $0.52 per share on revenue of $2.0 billion. The consensus earnings estimate was $0.38 per share on revenue of $1.9 billion.  Revenue grew 5.6% on a year-over-year basis.

The company said it expects fiscal year earnings of $3.50 to $3.60 per share. The company's previous guidance was earnings of $3.30 to $3.45 per share and the current consensus earnings estimate is $3.39 per share for the year ending January 31, 2020. Higher share prices are expected for this stock.

Entry Point: $48.25

Stop Loss: $45.50

Trading Range: $29.69 to $48.78

Target Price: $53.10

Updates

12/31/2019 3:42:59 PM

Closed at $49.80

Position closed on 12/31/2019 at price of $49.80 with a 3.21% gain in 18 days.

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