Dick's Sporting Goods downgraded because of retail slowdown

Mannequins stand next to merchandise displayed for sale at a Dick's Sporting Goods store in West Nyack, New York.
Craig Warga | Bloomberg | Getty Images

Oppenheimer lowered its rating for Dick's Sporting Goods to perform from outperform, saying the company's earnings results will come in below expectations in the coming year.

"Recently, a large number of leading sporting goods manufacturers and retailers reported results well shy of expectations, all while certain industry-wide sales trackers also hinted at top-line disruptions for the sector," analyst Brian Nagel wrote in a note to clients Tuesday. "The breadth of this flood of seemingly soft data points renders us increasingly concerned that even the well-positioned DKS is unlikely to emerge unscathed."