Dick's Sporting Goods is the No. 1 ranked company in the leisure products group and it's trading near its all-time high. One important metric to look for in a stock is an 80 or higher Relative Strength Rating. On Wednesday Dick's stock cleared that benchmark with a jump from 79 to 82.
The upgraded 82 IBD Relative Strength Rating means Dick's stock is in the top 18% of all stocks for price appreciation this past year. Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an 80 or better RS Rating in the early stages of their moves.
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Dick's Stock Rose Tenfold Since 2020
Dick's Sporting Goods, headquartered in the greater Pittsburgh area, is building a consolidation with a 152.61 buy point. See if Dick's stock can break out in strong volume. Dick's stock has been an outstanding performer since the beginning of the pandemic.
Its stock dropped to 13.46 at the end of March 2020 amid the Covid market crash. On Wednesday afternoon, Dick's stock traded above 141, a tenfold increase in less than four years. It's closing in on its all-time high 152.61 set in March 2023.
Ratings Outstanding, Fundamentals Not So Much
Although its ratings are all outstanding, its fundamentals have been a bit erratic lately.
Among its other ratings Dick's stock has an 88 Composite Rating out of 99. It has an 86 Earnings Per Share Rating and a terrific Accumulation/Distribution Rating of A, showing that institutions are heavy buyers of its stock.
Meanwhile, while revenue growth fell last quarter from 4% to 3%, or $3.04 billion, the bottom line grew 10% to $2.84 per share. That was a powerful reversal from a 23% year-over-year drop in EPS in the prior quarter's report.
The company earns the No. 1 rank among its peers in the Retail-Leisure Products industry group. Academy Sports & Outdoors is No. 2 and Hibbett Sports is No. 3.
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