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

DICK’S Sporting Goods (NYSE:DKS) had its target price boosted by analysts at Morgan Stanley from $245.00 to $255.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the sporting goods retailer’s stock. Morgan Stanley’s target price points to a potential upside of 7.71% from the company’s previous close.

Several other equities research analysts have also commented on DKS. Truist Financial boosted their price target on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Telsey Advisory Group reissued an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a research note on Tuesday, November 26th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their target price for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. TD Cowen boosted their price target on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Loop Capital raised their price objective 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. Eight investment 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, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and an average price target of $246.57.

DICK’S Sporting Goods Stock Performance

DICK’S Sporting Goods stock opened at $236.75 on Tuesday. 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 company has a market capitalization of $19.29 billion, a PE ratio of 16.92, a P/E/G ratio of 2.60 and a beta of 1.58. The company has a 50 day moving average price of $219.75 and a 200-day moving average price of $214.22. DICK’S Sporting Goods has a fifty-two week low of $148.92 and a fifty-two week high of $239.30.

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 for the quarter, beating analysts’ consensus estimates of $2.68 by $0.07. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the company posted $2.85 EPS. DICK’S Sporting Goods’s revenue was up .5% on a year-over-year basis. As a group, equities analysts forecast that DICK’S Sporting Goods will post 13.88 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $36,817,550.00. Following the sale, the chairman now directly owns 8,362,128 shares in the company, valued at $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. Insiders sold 172,933 shares of company stock valued at $39,655,456 over the last quarter. 32.03% of the stock is currently owned by company insiders.

Institutional Trading of DICK’S Sporting Goods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DKS. Kerusso Capital Management LLC purchased a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth about $1,554,000. National Pension Service acquired a new stake in DICK’S Sporting Goods in the third quarter valued at approximately $4,195,000. Strategy Asset Managers LLC purchased a new stake in shares of DICK’S Sporting Goods in the third quarter valued at approximately $4,325,000. Marion Wealth Management acquired a new position in shares of DICK’S Sporting Goods during the 4th quarter worth approximately $545,000. Finally, Landscape Capital Management L.L.C. lifted its position in shares of DICK’S Sporting Goods by 402.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 15,344 shares of the sporting goods retailer’s stock valued at $3,202,000 after buying an additional 12,293 shares in the last quarter. 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.