DA Davidson Has Lowered Expectations for DICK’S Sporting Goods (NYSE:DKS) Stock Price

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

Other research analysts have also recently issued reports about the company. Citigroup reissued a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday. Loop Capital raised their target price on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. TD Cowen lifted their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Robert W. Baird dropped their price objective on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $260.00 price objective on shares of DICK’S Sporting Goods in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $247.36.

DICK’S Sporting Goods Stock Down 1.4 %

Shares of DKS traded down $2.80 during midday trading on Wednesday, reaching $196.17. 734,886 shares of the stock were exchanged, compared to its average volume of 1,168,697. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The company 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. DICK’S Sporting Goods has a 52 week low of $182.25 and a 52 week high of $254.60. The company’s 50 day moving average is $230.77 and its two-hundred day moving average is $218.94.

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

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

Insiders Place Their Bets

In other news, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the completion of the transaction, the chairman now owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction that occurred 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 $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is currently owned by company insiders.

Institutional Trading of DICK’S Sporting Goods

Large investors have recently made changes to their positions in the business. Greenleaf Trust raised its position in DICK’S Sporting Goods by 3.0% during the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock valued at $394,000 after acquiring an additional 50 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of DICK’S Sporting Goods by 5.4% during the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock worth $235,000 after buying an additional 53 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of DICK’S Sporting Goods by 1.7% in the third quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock valued at $675,000 after buying an additional 54 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of DICK’S Sporting Goods by 2.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock worth $577,000 after buying an additional 54 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in shares of DICK’S Sporting Goods by 5.9% in the fourth quarter. EP Wealth Advisors LLC now owns 1,016 shares of the sporting goods retailer’s stock worth $232,000 after buying an additional 57 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

About DICK’S Sporting Goods

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.