DICK’S Sporting Goods (NYSE:DKS) Given New $273.00 Price Target at DA Davidson

DICK’S Sporting Goods (NYSE:DKS) had its target price dropped by research analysts at DA Davidson from $280.00 to $273.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the sporting goods retailer’s stock. DA Davidson’s target price indicates a potential upside of 39.17% from the stock’s previous close.

Several other analysts also recently weighed in on DKS. TD Cowen lifted their target price on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley upped their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Argus boosted their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 price target on shares of DICK’S Sporting Goods in a research report on Friday, March 7th. Finally, Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $247.36.

DICK’S Sporting Goods Stock Down 1.4 %

Shares of NYSE:DKS traded down $2.80 during midday trading on Wednesday, reaching $196.17. The company had a trading volume of 734,886 shares, compared to its average volume of 1,168,697. The stock has a market capitalization of $15.98 billion, a P/E ratio of 14.02, a PEG ratio of 2.47 and a beta of 1.53. The stock’s fifty day moving average price is $230.77 and its 200-day moving average price is $218.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. DICK’S Sporting Goods has a one year low of $182.25 and a one year high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $3.85 EPS. Equities research analysts expect that DICK’S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods declared that its Board of Directors has approved a stock buyback program on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the transaction, the director now owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. This trade represents a 12.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the sale, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,933 shares of company stock worth $39,655,456. Insiders own 32.03% of the company’s stock.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of hedge funds have recently made changes to their positions in DKS. Marion Wealth Management purchased a new position in DICK’S Sporting Goods during the fourth quarter worth $545,000. Strategy Asset Managers LLC purchased a new position in shares of DICK’S Sporting Goods during the 3rd quarter worth about $4,325,000. Argus Investors Counsel Inc. bought a new position in DICK’S Sporting Goods during the 4th quarter valued at about $257,000. Landscape Capital Management L.L.C. raised its position in DICK’S Sporting Goods by 402.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 15,344 shares of the sporting goods retailer’s stock worth $3,202,000 after purchasing an additional 12,293 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in DICK’S Sporting Goods by 78.2% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer’s stock worth $2,631,000 after purchasing an additional 5,046 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

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.