TD Cowen Issues Positive Forecast for DICK’S Sporting Goods (NYSE:DKS) Stock Price

DICK’S Sporting Goods (NYSE:DKS) had its price target boosted by stock analysts at TD Cowen from $270.00 to $294.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the sporting goods retailer’s stock. TD Cowen’s price target suggests a potential upside of 26.57% from the stock’s current price.

Several other research firms also recently weighed in on DKS. Truist Financial lifted their target price on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Wedbush reiterated a “neutral” rating and issued a $215.00 price target (down previously from $250.00) on shares of DICK’S Sporting Goods 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 lifted their target price for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Finally, Loop Capital increased their price target on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock 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 given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $246.10.

DICK’S Sporting Goods Price Performance

Shares of DICK’S Sporting Goods stock traded up $4.70 on Wednesday, hitting $232.29. 360,099 shares of the company traded hands, compared to its average volume of 860,430. 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 business has a 50-day simple moving average of $212.86 and a 200 day simple moving average of $212.89. DICK’S Sporting Goods has a 52 week low of $137.44 and a 52 week high of $239.30. The stock has a market capitalization of $18.93 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.52 and a beta of 1.58.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping 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 company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.03 billion. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $2.85 earnings per share. Research analysts expect that DICK’S Sporting Goods will post 13.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the completion of the sale, the director now directly owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 32.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in DICK’S Sporting Goods during the third quarter worth $27,000. ICA Group Wealth Management LLC purchased a new stake in shares of DICK’S Sporting Goods in the 2nd quarter valued at $28,000. ORG Wealth Partners LLC acquired a new position in DICK’S Sporting Goods during the 3rd quarter worth about $30,000. True Wealth Design LLC boosted its holdings in DICK’S Sporting Goods by 2,900.0% during the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after acquiring an additional 145 shares during the period. Finally, Richardson Financial Services Inc. acquired a new position in DICK’S Sporting Goods in the 2nd quarter valued at about $34,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Company Profile

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.