Robert W. Baird Lowers DICK’S Sporting Goods (NYSE:DKS) Price Target to $230.00

DICK’S Sporting Goods (NYSE:DKS) had its price target lowered by equities research analysts at Robert W. Baird from $235.00 to $230.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the sporting goods retailer’s stock. Robert W. Baird’s price objective would suggest a potential upside of 23.20% from the company’s previous close.

A number of other research firms have also recently weighed in on DKS. Loop Capital upped their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Wedbush reaffirmed a “neutral” rating and set a $215.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, March 6th. Argus upped their price target on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. TD Cowen upped their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley upped their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.55.

DICK’S Sporting Goods Stock Down 4.3 %

Shares of DICK’S Sporting Goods stock opened at $186.69 on Wednesday. The company has a market cap of $15.21 billion, a P/E ratio of 13.34, a PEG ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK’S Sporting Goods has a one year low of $182.84 and a one year high of $254.60. The firm has a fifty day moving average of $230.08 and a two-hundred day moving average of $218.77.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm earned $3.85 EPS. DICK’S Sporting Goods’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts forecast that DICK’S Sporting Goods will post 13.89 earnings per share for the current year.

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

Insider Transactions at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the transaction, the executive vice president now directly owns 16,504 shares in the company, valued at $3,762,746.96. This represents a 23.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the chairman now owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,933 shares of company stock worth $39,655,456 in the last three months. Company insiders own 32.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Wood Tarver Financial Group LLC purchased a new position in DICK’S Sporting Goods in the fourth quarter valued at approximately $114,000. Siemens Fonds Invest GmbH purchased a new position in DICK’S Sporting Goods in the fourth quarter valued at approximately $3,384,000. Park Square Financial Group LLC purchased a new position in DICK’S Sporting Goods in the fourth quarter valued at approximately $27,000. Total Wealth Planning & Management Inc. purchased a new position in DICK’S Sporting Goods in the fourth quarter valued at approximately $258,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in DICK’S Sporting Goods in the fourth quarter valued at approximately $6,483,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

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.