DICK’S Sporting Goods’ (DKS) Neutral Rating Reiterated at Guggenheim

DICK’S Sporting Goods (NYSE:DKS)‘s stock had its “neutral” rating reaffirmed by research analysts at Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports.

Several other brokerages have also issued reports on DKS. TD Cowen boosted their target price on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Robert W. Baird cut their price objective on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday. Truist Financial set a $245.00 target price on DICK’S Sporting Goods in a research note on Tuesday. Citigroup reissued a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday. Finally, UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price target for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $247.00.

DICK’S Sporting Goods Trading Down 2.0 %

DKS traded down $3.93 during trading on Wednesday, reaching $195.04. The company had a trading volume of 144,459 shares, compared to its average volume of 1,155,846. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The business has a 50 day simple moving average of $230.77 and a 200-day simple moving average of $218.94. The stock has a market cap of $15.89 billion, a P/E ratio of 13.95, a PEG ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods has a 52 week low of $182.25 and a 52 week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.15. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business earned $3.85 EPS. The business’s revenue was up .5% on a year-over-year basis. On average, equities analysts anticipate that DICK’S Sporting Goods will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods declared that its board has initiated a stock repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 in the company, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the transaction, the executive vice president now directly owns 16,504 shares in the company, valued at $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is owned by corporate insiders.

Institutional Trading of DICK’S Sporting Goods

A number of institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group acquired a new position in DICK’S Sporting Goods during the 3rd quarter valued at about $27,000. Park Square Financial Group LLC purchased a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth about $27,000. New Wave Wealth Advisors LLC acquired a new position in shares of DICK’S Sporting Goods during the fourth quarter valued at about $28,000. Ancora Advisors LLC purchased a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Company Profile

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.