DICK’S Sporting Goods’ (DKS) “Neutral” Rating Reiterated at Wedbush

DICK’S Sporting Goods (NYSE:DKS)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a research note issued on Thursday, Benzinga reports. They presently have a $115.00 price objective on the sporting goods retailer’s stock. Wedbush’s target price indicates a potential downside of 2.09% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley cut their target price on DICK’S Sporting Goods from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday. Stephens reiterated an “equal weight” rating and set a $141.00 target price on shares of DICK’S Sporting Goods in a research report on Tuesday, August 22nd. Citigroup dropped their price objective on shares of DICK’S Sporting Goods from $153.00 to $118.00 and set a “neutral” rating on the stock in a report on Wednesday, August 23rd. Robert W. Baird dropped their price target on DICK’S Sporting Goods from $140.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 22nd. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $140.00 price objective (down previously from $160.00) on shares of DICK’S Sporting Goods in a research note on Tuesday, August 22nd. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Hold” and an average price target of $142.96.

DICK’S Sporting Goods Stock Performance

Shares of DKS stock opened at $117.45 on Thursday. The business’s 50-day moving average price is $109.11 and its 200-day moving average price is $124.72. DICK’S Sporting Goods has a 12 month low of $98.01 and a 12 month high of $152.61. The company has a current ratio of 1.81, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.86 and a beta of 1.49.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, August 22nd. The sporting goods retailer reported $2.82 EPS for the quarter, missing analysts’ consensus estimates of $3.76 by ($0.94). The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.24 billion. DICK’S Sporting Goods had a net margin of 8.03% and a return on equity of 40.52%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.68 EPS. Equities research analysts forecast that DICK’S Sporting Goods will post 11.81 EPS for the current year.

Insider Activity at DICK’S Sporting Goods

In related news, Director William J. Colombo purchased 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average cost of $110.00 per share, with a total value of $242,000.00. Following the completion of the purchase, the director now directly owns 170,192 shares in the company, valued at $18,721,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DICK’S Sporting Goods news, Director Sandeep Mathrani bought 1,300 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average cost of $113.54 per share, for a total transaction of $147,602.00. Following the purchase, the director now owns 6,647 shares in the company, valued at approximately $754,700.38. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William J. Colombo purchased 2,200 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was acquired at an average price of $110.00 per share, with a total value of $242,000.00. Following the purchase, the director now directly owns 170,192 shares of the company’s stock, valued at $18,721,120. The disclosure for this purchase can be found here. 30.79% of the stock is currently owned by company insiders.

Institutional Trading of DICK’S Sporting Goods

A number of institutional investors have recently made changes to their positions in DKS. Victory Capital Management Inc. grew its position in DICK’S Sporting Goods by 9,735.6% in the 3rd quarter. Victory Capital Management Inc. now owns 2,239,273 shares of the sporting goods retailer’s stock worth $243,140,000 after purchasing an additional 2,216,506 shares during the period. BlackRock Inc. grew its holdings in shares of DICK’S Sporting Goods by 12.1% in the first quarter. BlackRock Inc. now owns 5,983,808 shares of the sporting goods retailer’s stock worth $849,043,000 after acquiring an additional 644,609 shares during the period. Barclays PLC lifted its holdings in DICK’S Sporting Goods by 169.4% in the second quarter. Barclays PLC now owns 238,774 shares of the sporting goods retailer’s stock valued at $31,564,000 after acquiring an additional 583,069 shares during the period. AQR Capital Management LLC lifted its holdings in DICK’S Sporting Goods by 145.0% in the third quarter. AQR Capital Management LLC now owns 789,482 shares of the sporting goods retailer’s stock valued at $85,722,000 after acquiring an additional 467,243 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in DICK’S Sporting Goods by 1,168.3% in the first quarter. Envestnet Asset Management Inc. now owns 465,279 shares of the sporting goods retailer’s stock worth $7,918,000 after purchasing an additional 428,593 shares during the last quarter. Hedge funds and other institutional investors own 68.21% of the company’s stock.

About DICK’S Sporting Goods

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