Stifel Nicolaus Issues Pessimistic Forecast for DICK’S Sporting Goods (NYSE:DKS) Stock Price

DICK’S Sporting Goods (NYSE:DKS) had its price target lowered by equities researchers at Stifel Nicolaus from $240.00 to $226.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the sporting goods retailer’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 13.45% from the company’s previous close.

Several other research analysts have also recently commented on DKS. Truist Financial raised their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Morgan Stanley upped their target price on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Loop Capital raised their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. TD Cowen increased their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $260.00 target price on shares of DICK’S Sporting Goods in a research note on Friday, March 7th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.82.

DICK’S Sporting Goods Trading Down 5.6 %

Shares of DICK’S Sporting Goods stock opened at $199.20 on Wednesday. DICK’S Sporting Goods has a 12-month low of $180.80 and a 12-month high of $254.60. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The stock has a market cap of $16.23 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 2.47 and a beta of 1.53. The company has a fifty day simple moving average of $230.77 and a 200-day simple moving average of $218.94.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $3.85 EPS. On average, equities analysts forecast that DICK’S Sporting Goods will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the completion of the transaction, the chairman now directly owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the transaction, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is owned by corporate insiders.

Institutional Trading of DICK’S Sporting Goods

A number of large investors have recently modified their holdings of DKS. Park Square Financial Group LLC purchased a new position in shares of DICK’S Sporting Goods in the 4th quarter worth approximately $27,000. New Wave Wealth Advisors LLC acquired a new position in DICK’S Sporting Goods in the fourth quarter valued at approximately $28,000. Ancora Advisors LLC purchased a new stake in DICK’S Sporting Goods during the fourth quarter worth $28,000. Brooklyn Investment Group acquired a new stake in shares of DICK’S Sporting Goods during the 3rd quarter valued at about $27,000. Finally, Rialto Wealth Management LLC acquired a new stake in DICK’S Sporting Goods in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.