DICK’S Sporting Goods (NYSE:DKS) Stock Price Expected to Rise, TD Cowen Analyst Says

DICK’S Sporting Goods (NYSE:DKS) had its price objective raised by equities research analysts at TD Cowen from $270.00 to $294.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the sporting goods retailer’s stock. TD Cowen’s price objective indicates a potential upside of 26.33% from the company’s current price.

A number of other research firms have also commented on DKS. Wedbush reaffirmed a “neutral” rating and issued a $215.00 price target (down from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their target price for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. Loop Capital upped their price target on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Truist Financial raised their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $260.00 target price on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.10.

DICK’S Sporting Goods Price Performance

DKS opened at $232.72 on Wednesday. DICK’S Sporting Goods has a fifty-two week low of $137.44 and a fifty-two week high of $239.30. The firm has a 50-day moving average of $214.24 and a 200 day moving average of $213.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The firm has a market cap of $18.96 billion, a P/E ratio of 16.63, a PEG ratio of 2.52 and a beta of 1.58.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results 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 firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $2.85 earnings per share. On average, research analysts expect that DICK’S Sporting Goods will post 13.88 EPS for the current year.

Insider Activity at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total value of $1,697,956.15. Following the transaction, the director now owns 50,997 shares in the company, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the sale, the chairman now owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DICK’S Sporting Goods

Hedge funds have recently made changes to their positions in the business. ORG Partners LLC raised its holdings in DICK’S Sporting Goods by 37.0% in the 3rd quarter. ORG Partners LLC now owns 200 shares of the sporting goods retailer’s stock worth $42,000 after purchasing an additional 54 shares in the last quarter. CIBC Asset Management Inc boosted its position in DICK’S Sporting Goods by 1.7% during the 3rd quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock valued at $675,000 after acquiring an additional 54 shares in the last quarter. Vista Capital Partners Inc. grew its holdings in shares of DICK’S Sporting Goods by 5.7% during the 2nd quarter. Vista Capital Partners Inc. now owns 1,057 shares of the sporting goods retailer’s stock worth $227,000 after acquiring an additional 57 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of DICK’S Sporting Goods by 5.7% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,907 shares of the sporting goods retailer’s stock worth $398,000 after acquiring an additional 103 shares in the last quarter. Finally, OLD National Bancorp IN lifted its stake in shares of DICK’S Sporting Goods by 5.8% in the 3rd quarter. OLD National Bancorp IN now owns 1,903 shares of the sporting goods retailer’s stock valued at $397,000 after purchasing an additional 105 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

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.