DICK'S Sporting Goods (NYSE:DKS) Given New $240.00 Price Target at Bank of America

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) had its target price dropped by analysts at Bank of America from $250.00 to $240.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the sporting goods retailer's stock. Bank of America's price objective would indicate a potential upside of 36.36% from the company's current price.

DKS has been the subject of a number of other reports. Loop Capital cut their price objective on DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating for the company in a research note on Friday, May 16th. DA Davidson dropped their price target on shares of DICK'S Sporting Goods from $273.00 to $230.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. JPMorgan Chase & Co. decreased their price objective on shares of DICK'S Sporting Goods from $224.00 to $195.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Guggenheim restated a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company upped their target price on shares of DICK'S Sporting Goods from $171.00 to $187.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, DICK'S Sporting Goods presently has a consensus rating of "Hold" and a consensus price target of $219.56.

DICK'S Sporting Goods Price Performance

NYSE DKS opened at $176.00 on Tuesday. The company has a 50-day moving average price of $183.27 and a 200-day moving average price of $206.65. DICK'S Sporting Goods has a 52 week low of $166.37 and a 52 week high of $254.60. The company has a quick ratio of 0.47, a current ratio of 1.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $14.09 billion, a P/E ratio of 12.59, a PEG ratio of 2.47 and a beta of 1.07.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, meeting analysts' consensus estimates of $3.37. The business 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 8.49% and a return on equity of 38.06%. Equities research analysts anticipate that DICK'S Sporting Goods will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods announced that its board has initiated a share buyback plan on Tuesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On DICK'S Sporting Goods

Institutional investors have recently bought and sold shares of the business. Park Square Financial Group LLC purchased a new stake in shares of DICK'S Sporting Goods during the 4th quarter valued at about $27,000. Ancora Advisors LLC purchased a new stake in DICK'S Sporting Goods during the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new stake in DICK'S Sporting Goods during the fourth quarter valued at approximately $30,000. Bessemer Group Inc. lifted its stake in shares of DICK'S Sporting Goods by 108.6% in the 4th quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock valued at $33,000 after purchasing an additional 76 shares during the last quarter. Finally, Private Trust Co. NA boosted its holdings in shares of DICK'S Sporting Goods by 54.1% in the 1st quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer's stock worth $38,000 after purchasing an additional 66 shares during the period. Institutional investors 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.

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