DICK’S Sporting Goods (NYSE:DKS) Upgraded to Buy by Bank of America

DICK’S Sporting Goods (NYSE:DKSGet Free Report) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Wednesday, Marketbeat.com reports. The firm currently has a $240.00 price target on the sporting goods retailer’s stock, up from their prior price target of $225.00. Bank of America‘s target price indicates a potential upside of 7.07% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Robert W. Baird upped their target price on DICK’S Sporting Goods from $145.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. UBS Group raised their price objective on shares of DICK’S Sporting Goods from $142.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Gordon Haskett boosted their target price on shares of DICK’S Sporting Goods from $190.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Wedbush restated a “neutral” rating and issued a $210.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, May 21st. Finally, Oppenheimer upped their price objective on shares of DICK’S Sporting Goods from $190.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $237.09.

View Our Latest Stock Report on DICK’S Sporting Goods

DICK’S Sporting Goods Stock Performance

NYSE DKS opened at $224.16 on Wednesday. The company has a market capitalization of $18.48 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.39 and a beta of 1.61. DICK’S Sporting Goods has a twelve month low of $100.98 and a twelve month high of $229.56. The stock has a fifty day simple moving average of $204.14 and a 200 day simple moving average of $171.23. The company has a quick ratio of 0.74, a current ratio of 1.78 and a debt-to-equity ratio of 0.57.

DICK’S Sporting Goods (NYSE:DKSGet Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.36. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.94 billion. DICK’S Sporting Goods had a net margin of 8.06% and a return on equity of 42.99%. DICK’S Sporting Goods’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.40 earnings per share. Sell-side analysts expect that DICK’S Sporting Goods will post 13.26 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder William Colombo Trustee U/A Dt bought 40,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $213.93 per share, for a total transaction of $8,557,200.00. Following the completion of the purchase, the insider now directly owns 8,818,615 shares in the company, valued at $1,886,566,306.95. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder William Colombo Trustee U/A Dt acquired 40,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $213.93 per share, for a total transaction of $8,557,200.00. Following the purchase, the insider now owns 8,818,615 shares of the company’s stock, valued at approximately $1,886,566,306.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Edward W. Stack sold 151,210 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $220.93, for a total transaction of $33,406,825.30. Following the transaction, the chairman now owns 10,899,110 shares of the company’s stock, valued at approximately $2,407,940,372.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,763 shares of company stock valued at $46,483,438. 32.03% of the stock is owned by insiders.

Institutional Investors Weigh In On DICK’S Sporting Goods

Several institutional investors have recently made changes to their positions in DKS. Teacher Retirement System of Texas raised its stake in shares of DICK’S Sporting Goods by 3.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 4,853 shares of the sporting goods retailer’s stock valued at $527,000 after purchasing an additional 162 shares during the period. Sigma Planning Corp grew its holdings in DICK’S Sporting Goods by 28.4% during the 3rd quarter. Sigma Planning Corp now owns 2,173 shares of the sporting goods retailer’s stock valued at $236,000 after buying an additional 481 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in DICK’S Sporting Goods by 14.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,227 shares of the sporting goods retailer’s stock valued at $3,282,000 after buying an additional 3,758 shares in the last quarter. Arizona State Retirement System increased its position in shares of DICK’S Sporting Goods by 1.0% during the third quarter. Arizona State Retirement System now owns 17,095 shares of the sporting goods retailer’s stock valued at $1,856,000 after buying an additional 162 shares during the period. Finally, South Dakota Investment Council bought a new position in shares of DICK’S Sporting Goods in the third quarter valued at approximately $2,300,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Company Profile

(Get Free Report)

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

Recommended Stories

Analyst Recommendations for DICK'S Sporting Goods (NYSE:DKS)

Receive News & Ratings for DICK'S Sporting Goods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DICK'S Sporting Goods and related companies with MarketBeat.com's FREE daily email newsletter.