DA Davidson Forecasts Strong Price Appreciation for DICK'S Sporting Goods (NYSE:DKS) Stock

Key Points

• DA Davidson has raised its target price for DICK'S Sporting Goods from $250.00 to $270.00, indicating a potential upside of 18.49% from the current stock price.
• DICK'S Sporting Goods recently posted earnings that exceeded expectations, with $4.38 per share, and reported revenue of $3.65 billion for the quarter, a 5.0% increase year-over-year.
• Current ratings on DICK'S Sporting Goods include 12 "Buy" ratings, 10 "Hold" ratings, and 2 "Sell" ratings, with an average price target of $234.29 according to market analysts.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) had its target price raised by equities researchers at DA Davidson from $250.00 to $270.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the sporting goods retailer's stock. DA Davidson's price target points to a potential upside of 18.49% from the company's current price.

Several other equities research analysts also recently weighed in on the stock. Cowen reaffirmed a "hold" rating on shares of DICK'S Sporting Goods in a research note on Monday, August 18th. Wells Fargo & Company boosted their price target on shares of DICK'S Sporting Goods from $215.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, August 29th. BNP Paribas set a $177.00 target price on DICK'S Sporting Goods and gave the stock an "underperform" rating in a research note on Friday, September 26th. BNP Paribas Exane started coverage on DICK'S Sporting Goods in a research report on Friday, September 26th. They set an "underperform" rating and a $177.00 target price for the company. Finally, Weiss Ratings upgraded DICK'S Sporting Goods from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, DICK'S Sporting Goods presently has an average rating of "Hold" and a consensus price target of $234.29.

DICK'S Sporting Goods Stock Performance

Shares of DKS stock traded up $0.14 on Wednesday, reaching $227.86. The stock had a trading volume of 81,150 shares, compared to its average volume of 1,524,088. DICK'S Sporting Goods has a 12 month low of $166.37 and a 12 month high of $254.60. The company has a quick ratio of 0.55, a current ratio of 1.70 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 3.23 and a beta of 1.06. The firm's 50-day moving average is $224.39 and its two-hundred day moving average is $203.97.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The sporting goods retailer reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.30 by $0.08. DICK'S Sporting Goods had a return on equity of 36.54% and a net margin of 8.52%.The business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the firm posted $4.37 EPS. The company's quarterly revenue was up 5.0% on a year-over-year basis. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. On average, research analysts expect that DICK'S Sporting Goods will post 13.89 EPS for the current fiscal year.

Insider Transactions at DICK'S Sporting Goods

In other DICK'S Sporting Goods news, EVP Navdeep Gupta sold 13,334 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $225.00, for a total transaction of $3,000,150.00. Following the transaction, the executive vice president owned 74,444 shares in the company, valued at approximately $16,749,900. This represents a 15.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lauren R. Hobart sold 20,083 shares of the firm's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $220.69, for a total transaction of $4,432,117.27. Following the completion of the sale, the chief executive officer owned 299,990 shares in the company, valued at $66,204,793.10. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. 32.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in DICK'S Sporting Goods by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer's stock valued at $1,179,171,000 after buying an additional 471,217 shares in the last quarter. Wellington Management Group LLP raised its position in DICK'S Sporting Goods by 416.9% during the first quarter. Wellington Management Group LLP now owns 2,829,780 shares of the sporting goods retailer's stock valued at $570,370,000 after purchasing an additional 2,282,300 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of DICK'S Sporting Goods by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 899,154 shares of the sporting goods retailer's stock valued at $181,225,000 after purchasing an additional 17,534 shares during the last quarter. Atreides Management LP purchased a new position in shares of DICK'S Sporting Goods in the 2nd quarter worth approximately $172,715,000. Finally, Invesco Ltd. lifted its holdings in shares of DICK'S Sporting Goods by 36.2% in the 1st quarter. Invesco Ltd. now owns 808,313 shares of the sporting goods retailer's stock worth $162,924,000 after acquiring an additional 214,718 shares during the last quarter. 89.83% of the stock is 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.

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