Truist Financial Forecasts Strong Price Appreciation for DICK’S Sporting Goods (NYSE:DKS) Stock

DICK’S Sporting Goods (NYSE:DKS) had its target price increased by analysts at Truist Financial from $256.00 to $258.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the sporting goods retailer’s stock. Truist Financial’s target price indicates a potential upside of 20.75% from the stock’s current price.

DKS has been the topic of a number of other reports. TD Cowen raised their price target on DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price target on DICK’S Sporting Goods from $211.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $225.00 to $260.00 in a report on Wednesday. Finally, Evercore ISI reissued an “outperform” rating and issued a $280.00 price objective on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.95.

DICK’S Sporting Goods Stock Performance

Shares of DKS stock opened at $213.66 on Wednesday. The firm’s 50 day moving average price is $205.79 and its 200-day moving average price is $210.66. DICK’S Sporting Goods has a one year low of $120.39 and a one year high of $239.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 1.77. The firm has a market cap of $17.39 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.45 and a beta of 1.64.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.07. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.03 billion. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $2.85 EPS. As a group, equities research analysts predict that DICK’S Sporting Goods will post 13.88 EPS for the current year.

Hedge Funds Weigh In On DICK’S Sporting Goods

Large investors have recently bought and sold shares of the stock. ORG Partners LLC boosted its holdings in DICK’S Sporting Goods by 37.0% in the third quarter. ORG Partners LLC now owns 200 shares of the sporting goods retailer’s stock valued at $42,000 after acquiring an additional 54 shares during the last quarter. CIBC Asset Management Inc raised its holdings in DICK’S Sporting Goods by 1.7% in the third quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock valued at $675,000 after buying an additional 54 shares during the period. Quent Capital LLC lifted its position in DICK’S Sporting Goods by 0.6% during the second quarter. Quent Capital LLC now owns 9,752 shares of the sporting goods retailer’s stock valued at $2,095,000 after buying an additional 57 shares in the last quarter. Vista Capital Partners Inc. lifted its position in DICK’S Sporting Goods by 5.7% during the second quarter. Vista Capital Partners Inc. now owns 1,057 shares of the sporting goods retailer’s stock valued at $227,000 after buying an additional 57 shares in the last quarter. Finally, Range Financial Group LLC grew its stake in DICK’S Sporting Goods by 0.8% during the second quarter. Range Financial Group LLC now owns 9,386 shares of the sporting goods retailer’s stock worth $2,017,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Company Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.