JPMorgan Chase & Co. Issues Pessimistic Forecast for DICK'S Sporting Goods (NYSE:DKS) Stock Price

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) had its price target decreased by analysts at JPMorgan Chase & Co. from $224.00 to $195.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the sporting goods retailer's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 8.67% from the stock's current price.

A number of other brokerages have also recently weighed in on DKS. Wells Fargo & Company raised their price target 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. Citigroup restated a "neutral" rating and issued a $220.00 price target (down previously from $230.00) on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Guggenheim reissued a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Wedbush reaffirmed a "neutral" rating and issued a $215.00 target price on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Finally, Truist Financial set a $245.00 price target on DICK'S Sporting Goods in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $220.11.

DICK'S Sporting Goods Price Performance

NYSE:DKS traded down $1.76 during trading hours on Thursday, hitting $179.45. The company's stock had a trading volume of 1,911,698 shares, compared to its average volume of 1,253,679. The business's 50-day moving average is $187.90 and its two-hundred day moving average is $209.80. The company has a market capitalization of $14.33 billion, a PE ratio of 12.83, 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 has a 52-week low of $166.37 and a 52-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 return on equity of 42.00% and a net margin of 8.65%. The business had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.12 billion. As a group, research analysts anticipate that DICK'S Sporting Goods will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods declared that its Board of Directors has authorized a stock repurchase 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 buy up to 18.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On DICK'S Sporting Goods

A number of institutional investors have recently modified their holdings of DKS. Strs Ohio acquired a new stake in shares of DICK'S Sporting Goods in the first quarter worth $1,028,000. Geneos Wealth Management Inc. boosted its stake in DICK'S Sporting Goods by 70.1% during the first quarter. Geneos Wealth Management Inc. now owns 643 shares of the sporting goods retailer's stock worth $130,000 after buying an additional 265 shares in the last quarter. Intech Investment Management LLC boosted its stake in DICK'S Sporting Goods by 0.9% during the first quarter. Intech Investment Management LLC now owns 52,003 shares of the sporting goods retailer's stock worth $10,482,000 after buying an additional 465 shares in the last quarter. Integrity Alliance LLC. acquired a new stake in shares of DICK'S Sporting Goods in the 1st quarter valued at $470,000. Finally, SCS Capital Management LLC acquired a new stake in shares of DICK'S Sporting Goods in the 1st quarter valued at $1,962,000. Institutional investors own 89.83% of the company's stock.

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.