DICK'S Sporting Goods (NYSE:DKS) Given Buy Rating at DA Davidson

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 to investors on Friday,Benzinga reports. They presently have a $230.00 target price on the sporting goods retailer's stock. DA Davidson's price objective points to a potential upside of 16.16% from the stock's previous close.

Several other brokerages have 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 company an "equal weight" rating in a research report on Wednesday, May 14th. Gordon Haskett downgraded shares of DICK'S Sporting Goods from a "buy" rating to a "reduce" rating and set a $170.00 target price for the company. in a research note on Friday, May 16th. Stifel Nicolaus decreased their price objective on DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Bank of America reduced their target price on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Finally, Robert W. Baird dropped their price target on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating on the stock in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $219.56.

DICK'S Sporting Goods Trading Down 2.4%

DKS traded down $4.81 on Friday, hitting $198.01. The company had a trading volume of 1,662,732 shares, compared to its average volume of 1,541,721. The business's fifty day simple moving average is $183.82 and its 200 day simple moving average is $205.91. The company has a quick ratio of 0.47, a current ratio of 1.62 and a debt-to-equity ratio of 0.49. DICK'S Sporting Goods has a 12-month low of $166.37 and a 12-month high of $254.60. The company has a market cap of $15.85 billion, a PE ratio of 14.16, a PEG ratio of 2.89 and a beta of 1.07.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 the consensus estimate of $3.12 billion. Equities research analysts expect that DICK'S Sporting Goods will post 13.89 EPS for the current year.

DICK'S Sporting Goods declared that its board has initiated a stock buyback 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 purchase up to 18.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at DICK'S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 1,026 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $203.50, for a total value of $208,791.00. Following the completion of the transaction, the executive vice president directly owned 18,139 shares of the company's stock, valued at approximately $3,691,286.50. This represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Eddy purchased 1,280 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was acquired at an average cost of $194.99 per share, for a total transaction of $249,587.20. Following the completion of the purchase, the director owned 6,048 shares of the company's stock, valued at approximately $1,179,299.52. This represents a 26.85% increase in their position. The disclosure for this purchase can be found here. 32.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in DICK'S Sporting Goods in the 4th quarter valued at about $1,893,210,000. Vanguard Group Inc. lifted its holdings in DICK'S Sporting Goods by 8.8% in the first quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer's stock valued at $1,179,171,000 after acquiring an additional 471,217 shares during the last quarter. Wellington Management Group LLP lifted its holdings in DICK'S Sporting Goods by 416.9% in 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 acquiring an additional 2,282,300 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in DICK'S Sporting Goods by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer's stock worth $427,056,000 after acquiring an additional 77,357 shares during the period. Finally, Geode Capital Management LLC increased its stake in DICK'S Sporting Goods by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer's stock worth $241,660,000 after acquiring an additional 15,011 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

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.