DICK’S Sporting Goods (NYSE:DKS) Price Target Cut to $226.00 by Analysts at Stifel Nicolaus

DICK’S Sporting Goods (NYSE:DKS) had its target price dropped by equities researchers at Stifel Nicolaus from $240.00 to $226.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the sporting goods retailer’s stock. Stifel Nicolaus’ price objective points to a potential upside of 13.45% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Argus upped their target price on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. TD Cowen raised their price objective 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. UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. Wedbush reaffirmed a “neutral” rating and set a $215.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, March 6th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $260.00 target price on shares of DICK’S Sporting Goods in a research report on Friday, March 7th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $247.82.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $199.20 on Wednesday. DICK’S Sporting Goods has a 1-year low of $180.80 and a 1-year high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The firm has a 50-day simple moving average of $230.77 and a two-hundred day simple moving average of $218.94. The stock has a market cap of $16.23 billion, a PE ratio of 14.24, a P/E/G ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last posted 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. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the company earned $3.85 earnings per share. The company’s revenue was up .5% on a year-over-year basis. As a group, analysts forecast that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods declared that its Board of Directors has authorized a share 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 reacquire up to 18.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction 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 directly owns 8,362,128 shares in the company, 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 this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock valued at $39,655,456 in the last quarter. 32.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DICK’S Sporting Goods

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

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.