Dick’s Sporting Goods Inc (NYSE:DKS) had its target price reduced by Wedbush from $54.00 to $51.00 in a report issued on Wednesday, Marketbeat reports. The firm currently has an “outperform” rating on the sporting goods retailer’s stock. Wedbush’s target price would indicate a potential upside of 40.85% from the stock’s current price.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Dick’s Sporting Goods from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Barclays PLC restated an “equal weight” rating and issued a $46.00 price objective (down from $50.00) on shares of Dick’s Sporting Goods in a report on Wednesday, May 17th. B. Riley restated a “buy” rating and issued a $58.00 price objective on shares of Dick’s Sporting Goods in a report on Monday, May 22nd. UBS AG lowered shares of Dick’s Sporting Goods from a “buy” rating to a “neutral” rating in a report on Tuesday, May 16th. Finally, Cowen and Company set a $55.00 price objective on shares of Dick’s Sporting Goods and gave the company a “buy” rating in a report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $55.92.

Shares of Dick’s Sporting Goods (NYSE:DKS) traded up 1.15% during midday trading on Wednesday, hitting $36.21. 1,985,831 shares of the stock traded hands. The company’s 50 day moving average price is $38.89 and its 200-day moving average price is $46.62. Dick’s Sporting Goods has a 12-month low of $34.55 and a 12-month high of $62.88. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 13.87 and a beta of 0.48.

Dick’s Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, May 16th. The sporting goods retailer reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Dick’s Sporting Goods had a net margin of 3.57% and a return on equity of 18.61%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. On average, equities research analysts expect that Dick’s Sporting Goods will post $3.66 EPS for the current year.

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A number of institutional investors have recently made changes to their positions in the stock. Affinity Investment Advisors LLC increased its stake in Dick’s Sporting Goods by 113.8% in the second quarter. Affinity Investment Advisors LLC now owns 107,716 shares of the sporting goods retailer’s stock valued at $4,290,000 after buying an additional 57,338 shares during the last quarter. ING Groep NV purchased a new stake in Dick’s Sporting Goods during the second quarter valued at $425,000. Russell Investments Group Ltd. increased its stake in Dick’s Sporting Goods by 24.3% in the second quarter. Russell Investments Group Ltd. now owns 299,013 shares of the sporting goods retailer’s stock valued at $11,907,000 after buying an additional 58,375 shares during the last quarter. Selz Capital LLC purchased a new stake in Dick’s Sporting Goods during the second quarter valued at $398,000. Finally, Tributary Capital Management LLC increased its stake in Dick’s Sporting Goods by 25.8% in the second quarter. Tributary Capital Management LLC now owns 33,900 shares of the sporting goods retailer’s stock valued at $1,350,000 after buying an additional 6,960 shares during the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

Dick’s Sporting Goods Company Profile

Dick’s Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.

Analyst Recommendations for Dick`s Sporting Goods (NYSE:DKS)

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