Wedbush Boosts DICK’S Sporting Goods (NYSE:DKS) Price Target to $140.00

DICK’S Sporting Goods (NYSE:DKSGet Rating) had its target price raised by Wedbush from $130.00 to $140.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the sporting goods retailer’s stock. Wedbush’s price target would indicate a potential upside of 17.67% from the stock’s previous close. Wedbush also issued estimates for DICK’S Sporting Goods’ FY2023 earnings at $12.03 EPS, Q2 2024 earnings at $4.33 EPS, Q3 2024 earnings at $2.86 EPS, Q4 2024 earnings at $3.29 EPS and FY2025 earnings at $14.99 EPS.

Several other equities research analysts have also recently commented on DKS. Gordon Haskett raised DICK’S Sporting Goods from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research note on Tuesday. OTR Global upgraded DICK’S Sporting Goods from a “mixed” rating to a “positive” rating in a report on Wednesday, August 17th. Evercore ISI lifted their target price on DICK’S Sporting Goods from $120.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 24th. DA Davidson upped their price objective on DICK’S Sporting Goods from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 24th. Finally, Bank of America upped their price objective on DICK’S Sporting Goods from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.16.

DICK’S Sporting Goods Price Performance

Shares of DKS stock opened at $118.98 on Wednesday. The stock has a 50 day moving average of $110.23 and a two-hundred day moving average of $98.18. The company has a current ratio of 1.81, a quick ratio of 0.75 and a debt-to-equity ratio of 0.69. DICK’S Sporting Goods has a 12 month low of $63.45 and a 12 month high of $132.75. The company has a market capitalization of $9.42 billion, a P/E ratio of 10.50, a P/E/G ratio of 1.98 and a beta of 1.46.

DICK’S Sporting Goods (NYSE:DKSGet Rating) last issued its earnings results on Tuesday, August 23rd. The sporting goods retailer reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.53 by $0.15. DICK’S Sporting Goods had a return on equity of 52.43% and a net margin of 9.52%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the firm posted $5.08 EPS. DICK’S Sporting Goods’s quarterly revenue was down 5.0% compared to the same quarter last year. As a group, equities analysts expect that DICK’S Sporting Goods will post 11.89 EPS for the current year.

Institutional Investors Weigh In On DICK’S Sporting Goods

Hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank grew its stake in DICK’S Sporting Goods by 36,600.0% in the first quarter. Huntington National Bank now owns 367 shares of the sporting goods retailer’s stock valued at $37,000 after acquiring an additional 366 shares during the period. B. Riley Wealth Management Inc. acquired a new stake in DICK’S Sporting Goods in the second quarter valued at approximately $20,734,000. Byrne Asset Management LLC acquired a new stake in DICK’S Sporting Goods in the second quarter valued at approximately $38,000. CoreCap Advisors LLC acquired a new stake in DICK’S Sporting Goods in the second quarter valued at approximately $40,000. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in DICK’S Sporting Goods in the first quarter valued at approximately $60,000. Institutional investors and hedge funds own 78.85% of the company’s stock.

About DICK’S Sporting Goods

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DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.

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