Loop Capital Lowers DICK’S Sporting Goods (NYSE:DKS) Price Target to $195.00

DICK’S Sporting Goods (NYSE:DKS) had its price target cut by equities researchers at Loop Capital from $240.00 to $195.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the sporting goods retailer’s stock. Loop Capital’s target price suggests a potential upside of 0.14% from the stock’s previous close.

Several other brokerages also recently weighed in on DKS. Stifel Nicolaus cut their price target on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research report on Wednesday. Citigroup reaffirmed a “neutral” rating and set a $220.00 price target (down from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday. Robert W. Baird cut their price target on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday. DA Davidson dropped their target price on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their target price for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.57.

DICK’S Sporting Goods Stock Performance

Shares of DKS stock opened at $194.74 on Thursday. The business’s fifty day simple moving average is $228.59 and its 200-day simple moving average is $218.26. The company has a market cap of $15.87 billion, a PE ratio of 13.92, a PEG ratio of 2.47 and a beta of 1.53. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods has a 12-month low of $182.84 and a 12-month high of $254.60.

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

DICK’S Sporting Goods announced that its board has approved a stock buyback plan on Tuesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at DICK’S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods stock in a transaction that occurred on 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 owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,933 shares of company stock worth $39,655,456. Insiders own 32.03% of the company’s stock.

Hedge Funds Weigh In On DICK’S Sporting Goods

Several institutional investors have recently modified their holdings of DKS. Wealthfront Advisers LLC acquired a new position in shares of DICK’S Sporting Goods in the fourth quarter worth $1,893,210,000. Norges Bank acquired a new position in shares of DICK’S Sporting Goods in the fourth quarter worth $221,693,000. Wellington Management Group LLP acquired a new position in shares of DICK’S Sporting Goods during the fourth quarter worth $125,285,000. Junto Capital Management LP acquired a new position in shares of DICK’S Sporting Goods during the fourth quarter worth $89,351,000. Finally, Holocene Advisors LP acquired a new position in shares of DICK’S Sporting Goods during the third quarter worth $70,562,000. Institutional investors and hedge funds 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.