NEW YORK (
) -TheStreet Ratings' stock model downgraded
Dick's Sporting Goods
to 'Hold' from 'Buy'. Shares of this sporting supply company are being kicked around by this week's Commerce Department announcement of advance estimates of U.S. retail sales. The sporting goods segment in June shrank 1.4% from May 2010 while the second quarter trailed the first quarter by 0.6%.
TheStreet Ratings released rating changes on seven additional U.S. common stocks for July 14, 2010. In total, one stock has been downgraded and seven stocks have been upgraded by our stock model.
The stock model identified the Dick's Sporting Goods Quick Ratio of 0.29 as showing a lack of ability to cover short-term cash needs. Plus, the quarterly net operating cash outflow of $13.7 million is a reversal from the positive result a year earlier.
Of today's seven upgrades, the largest company is
at $2.1 billion in market capitalization. This transportation logistics company has been upgraded to 'Buy' from 'Hold' by our stock model as second quarter revenue jumped 31% to $641.7 million as net income rose to $24.4 million from $17.9 million in the year ago period.
-- Reported by Kevin Baker in Jupiter, Fla.
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Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.