DICK’S Sporting Goods (NYSE:DKS) Price Target Lowered to $240.00 at Bank of America

DICK’S Sporting Goods (NYSE:DKSGet Free Report) had its price target reduced by analysts at Bank of America from $250.00 to $240.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the sporting goods retailer’s stock. Bank of America‘s price target suggests a potential upside of 29.23% from the stock’s current price.

A number of other equities analysts also recently issued reports on DKS. Wells Fargo & Company increased their target price on DICK’S Sporting Goods from $171.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th. Guggenheim reaffirmed a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of DICK’S Sporting Goods in a research note on Wednesday, May 28th. Barclays raised their price objective on DICK’S Sporting Goods from $217.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Finally, TD Cowen downgraded DICK’S Sporting Goods from a “buy” rating to a “hold” rating and set a $216.00 price objective for the company. in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $219.56.

View Our Latest Analysis on DICK’S Sporting Goods

DICK’S Sporting Goods Stock Performance

Shares of DKS stock opened at $185.71 on Tuesday. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.07. The stock has a 50 day simple moving average of $183.25 and a 200-day simple moving average of $206.31. DICK’S Sporting Goods has a 12-month low of $166.37 and a 12-month high of $254.60. The company has a current ratio of 1.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.49.

DICK’S Sporting Goods (NYSE:DKSGet Free Report) last issued its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.37. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.12 billion. DICK’S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. On average, equities analysts forecast that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods announced that its Board of Directors has approved a share repurchase plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to reacquire up to 18.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of large investors have recently bought and sold shares of the stock. Oder Investment Management LLC boosted its holdings in shares of DICK’S Sporting Goods by 1.0% during the first quarter. Oder Investment Management LLC now owns 5,258 shares of the sporting goods retailer’s stock worth $1,060,000 after purchasing an additional 51 shares during the last quarter. Independent Advisor Alliance boosted 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 purchasing an additional 53 shares during the last quarter. US Bancorp DE boosted its holdings in shares of DICK’S Sporting Goods by 1.1% during the first quarter. US Bancorp DE now owns 4,740 shares of the sporting goods retailer’s stock worth $955,000 after purchasing an additional 53 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of DICK’S Sporting Goods by 2.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock worth $577,000 after purchasing an additional 54 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in shares of DICK’S Sporting Goods by 5.9% during the fourth quarter. EP Wealth Advisors LLC now owns 1,016 shares of the sporting goods retailer’s stock worth $232,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Company Profile

(Get Free Report)

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.

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Analyst Recommendations for DICK'S Sporting Goods (NYSE:DKS)

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