Stifel Nicolaus Lowers DICK’S Sporting Goods (NYSE:DKS) Price Target to $226.00

DICK’S Sporting Goods (NYSE:DKS) had its price objective lowered by investment analysts at Stifel Nicolaus from $240.00 to $226.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the sporting goods retailer’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 21.06% from the stock’s current price.

DKS has been the topic of several other research reports. Wedbush reaffirmed a “neutral” rating and issued a $215.00 price target on shares of DICK’S Sporting Goods in a report on Thursday, March 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $260.00 price target on shares of DICK’S Sporting Goods in a report on Friday, March 7th. 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 report on Tuesday, January 21st. Truist Financial upped their price target 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. Finally, UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their price target for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.55.

DICK’S Sporting Goods Trading Down 4.3 %

Shares of DKS stock opened at $186.69 on Wednesday. The company’s fifty day simple moving average is $230.08 and its two-hundred day simple moving average is $218.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. DICK’S Sporting Goods has a 1 year low of $182.84 and a 1 year high of $254.60. The stock has a market capitalization of $15.21 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.85 EPS. As a group, analysts anticipate that DICK’S Sporting Goods will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods announced that its board has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the sale, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the sale, the director now owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock worth $39,655,456 over the last three months. Company insiders own 32.03% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

A number of institutional investors have recently modified their holdings of DKS. Wealthfront Advisers LLC purchased a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth about $1,893,210,000. Norges Bank purchased a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth about $221,693,000. Wellington Management Group LLP purchased a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth about $125,285,000. Junto Capital Management LP bought a new position in DICK’S Sporting Goods in the fourth quarter worth about $89,351,000. Finally, Holocene Advisors LP bought a new position in DICK’S Sporting Goods in the third quarter worth about $70,562,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Company Profile

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.