DA Davidson Reiterates Buy Rating for DICK'S Sporting Goods (NYSE:DKS)

DICK'S Sporting Goods (NYSE:DKS - Get Free Report)'s stock had its "buy" rating restated by equities researchers at DA Davidson in a research note issued on Friday,Benzinga reports. They presently have a $230.00 price target on the sporting goods retailer's stock. DA Davidson's price objective would suggest a potential upside of 12.00% from the stock's current price.

Several other research analysts have also recently commented on the stock. Robert W. Baird lowered their price target on shares of DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a report on Friday, May 16th. Gordon Haskett lowered shares of DICK'S Sporting Goods from a "buy" rating to a "reduce" rating and set a $170.00 target price on the stock. in a research report on Friday, May 16th. Telsey Advisory Group reissued an "outperform" rating and issued a $220.00 target price on shares of DICK'S Sporting Goods in a report on Wednesday, May 28th. Truist Financial set a $230.00 price objective on shares of DICK'S Sporting Goods in a research report on Wednesday, May 28th. Finally, TD Cowen cut shares of DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price objective on the stock. 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 issued a buy rating to the stock. According to data from MarketBeat, DICK'S Sporting Goods has a consensus rating of "Hold" and an average target price of $219.56.

DICK'S Sporting Goods Trading Up 4.8%

Shares of DKS stock opened at $205.36 on Friday. The stock's fifty day moving average is $183.47 and its two-hundred day moving average is $206.18. The firm has a market capitalization of $16.44 billion, a P/E ratio of 14.68, a PEG ratio of 2.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62. DICK'S Sporting Goods has a fifty-two week low of $166.37 and a fifty-two week high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share for the quarter, meeting analysts' consensus estimates of $3.37. DICK'S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. The business had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.12 billion. Research analysts expect that DICK'S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods announced that its Board of Directors has initiated a share buyback program on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DKS. Wealthfront Advisers LLC acquired a new stake in DICK'S Sporting Goods during the 4th quarter valued at $1,893,210,000. Wellington Management Group LLP increased its position in shares of 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 worth $570,370,000 after acquiring an additional 2,282,300 shares during the last quarter. Norges Bank purchased a new position in DICK'S Sporting Goods in the fourth quarter valued at about $221,693,000. Westfield Capital Management Co. LP grew its stake in DICK'S Sporting Goods by 1,899.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 630,566 shares of the sporting goods retailer's stock valued at $127,097,000 after purchasing an additional 599,025 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake 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 purchasing an additional 471,217 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.

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