Telsey Advisory Group Reaffirms Outperform Rating for DICK'S Sporting Goods (NYSE:DKS)

DICK'S Sporting Goods (NYSE:DKS - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Telsey Advisory Group in a report released on Wednesday,Benzinga reports. They presently have a $220.00 price objective on the sporting goods retailer's stock. Telsey Advisory Group's target price would indicate a potential upside of 21.42% from the company's current price.

Several other analysts have also commented on DKS. Argus raised their price objective on DICK'S Sporting Goods from $255.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Wall Street Zen upgraded DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Wedbush reissued a "neutral" rating and issued a $215.00 price target on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. TD Cowen cut shares of 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 report on Thursday, May 15th. Finally, Citigroup reiterated a "neutral" rating and issued a $220.00 target price (down previously from $230.00) on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, DICK'S Sporting Goods currently has an average rating of "Hold" and an average price target of $223.53.

DICK'S Sporting Goods Stock Performance

Shares of DKS traded up $4.08 during trading hours on Wednesday, hitting $181.20. The stock had a trading volume of 2,424,845 shares, compared to its average volume of 1,255,459. The firm has a 50-day moving average price of $188.47 and a 200 day moving average price of $209.94. DICK'S Sporting Goods has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share for the quarter, meeting analysts' consensus estimates of $3.37. The company had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.12 billion. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. As a group, research analysts anticipate that DICK'S Sporting Goods will post 13.89 EPS for the current year.

DICK'S Sporting Goods declared that its Board of Directors has approved a share buyback program 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 programs are typically an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On DICK'S Sporting Goods

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC acquired a new stake in shares of DICK'S Sporting Goods in the 4th quarter worth $1,893,210,000. Wellington Management Group LLP grew its holdings in shares of 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 purchasing an additional 2,282,300 shares during the period. Norges Bank acquired a new stake in DICK'S Sporting Goods during the fourth quarter worth about $221,693,000. Westfield Capital Management Co. LP raised its stake in DICK'S Sporting Goods by 1,899.2% during the first quarter. Westfield Capital Management Co. LP now owns 630,566 shares of the sporting goods retailer's stock worth $127,097,000 after purchasing an additional 599,025 shares during the period. Finally, Vanguard Group Inc. raised its stake in DICK'S Sporting Goods by 8.8% during the first quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer's stock worth $1,179,171,000 after purchasing an additional 471,217 shares during the period. 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.