Credit Suisse Group Boosts Dicks Sporting Goods (NYSE:DKS) Price Target to $46.00

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Dicks Sporting Goods (NYSE:DKS) had its price objective boosted by Credit Suisse Group from $37.00 to $46.00 in a research note released on Friday, The Fly reports. The brokerage currently has a neutral rating on the sporting goods retailer’s stock.

A number of other equities research analysts have also commented on the company. Citigroup set a $37.00 price target on Dicks Sporting Goods and gave the company a hold rating in a research report on Friday, August 23rd. Wells Fargo & Co lowered Dicks Sporting Goods from an outperform rating to a market perform rating and set a $39.00 price target for the company. in a research report on Monday, September 16th. Argus increased their price target on Dicks Sporting Goods to $45.00 and gave the company a buy rating in a research report on Tuesday, October 15th. ValuEngine raised Dicks Sporting Goods from a strong sell rating to a sell rating in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada increased their price target on Dicks Sporting Goods from $40.00 to $47.00 and gave the company a sector perform rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $47.11.

NYSE DKS opened at $45.81 on Friday. The firm has a market capitalization of $4.15 billion, a P/E ratio of 14.14, a PEG ratio of 2.13 and a beta of 0.58. The business has a fifty day simple moving average of $40.40 and a 200 day simple moving average of $36.98. Dicks Sporting Goods has a 12 month low of $29.69 and a 12 month high of $47.79. The company has a current ratio of 1.38, a quick ratio of 0.17 and a debt-to-equity ratio of 1.89.

Dicks Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.14. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.91 billion. Dicks Sporting Goods had a return on equity of 17.68% and a net margin of 3.82%. Dicks Sporting Goods’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. As a group, sell-side analysts predict that Dicks Sporting Goods will post 3.59 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in DKS. HS Management Partners LLC purchased a new stake in shares of Dicks Sporting Goods during the 2nd quarter valued at $70,242,000. Point72 Asset Management L.P. increased its position in shares of Dicks Sporting Goods by 4,185.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,247,758 shares of the sporting goods retailer’s stock valued at $50,921,000 after purchasing an additional 1,218,642 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Dicks Sporting Goods by 77.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,198,994 shares of the sporting goods retailer’s stock valued at $76,151,000 after purchasing an additional 962,473 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Dicks Sporting Goods during the 3rd quarter valued at $26,823,000. Finally, Nuveen Asset Management LLC increased its position in shares of Dicks Sporting Goods by 394.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 740,262 shares of the sporting goods retailer’s stock valued at $25,636,000 after purchasing an additional 590,644 shares during the last quarter. 78.40% of the stock is owned by hedge funds and other institutional investors.

About Dicks Sporting Goods

Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps, free league management services, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

Further Reading: Technical Analysis of Stocks, How Can It Help

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