Stifel Nicolaus Has Lowered Expectations for DICK’S Sporting Goods (NYSE:DKS) Stock Price

DICK’S Sporting Goods (NYSE:DKS) had its target price decreased by analysts at Stifel Nicolaus from $240.00 to $226.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the sporting goods retailer’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 21.06% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their target price for the company from $225.00 to $260.00 in a research note on Wednesday, November 27th. Morgan Stanley raised their target price on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Argus raised their price target on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Wedbush reissued a “neutral” rating and set a $215.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, March 6th. Finally, Loop Capital raised their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and an average price target of $245.55.

DICK’S Sporting Goods Price Performance

DKS stock opened at $186.69 on Wednesday. DICK’S Sporting Goods has a 1 year low of $182.84 and a 1 year high of $254.60. The company has a market cap of $15.21 billion, a P/E ratio of 13.34, a PEG ratio of 2.47 and a beta of 1.53. The firm has a 50-day moving average of $230.08 and a 200 day moving average of $218.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the firm earned $3.85 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, sell-side analysts forecast that DICK’S Sporting Goods will post 13.89 EPS for the current year.

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

Insider Buying and Selling

In other news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the transaction, the director now owns 50,997 shares in the company, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods stock in a transaction on Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the transaction, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DKS. Assetmark Inc. boosted its stake in shares of DICK’S Sporting Goods by 20.7% during the 3rd quarter. Assetmark Inc. now owns 1,831 shares of the sporting goods retailer’s stock worth $382,000 after acquiring an additional 314 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of DICK’S Sporting Goods by 253.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 612 shares of the sporting goods retailer’s stock valued at $128,000 after purchasing an additional 439 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of DICK’S Sporting Goods by 12.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 143,056 shares of the sporting goods retailer’s stock valued at $29,856,000 after purchasing an additional 15,591 shares during the period. Victory Capital Management Inc. raised its position in shares of DICK’S Sporting Goods by 99.1% during the 3rd quarter. Victory Capital Management Inc. now owns 124,119 shares of the sporting goods retailer’s stock valued at $25,904,000 after purchasing an additional 61,767 shares during the period. Finally, Plato Investment Management Ltd bought a new stake in shares of DICK’S Sporting Goods during the 3rd quarter valued at $75,000. Hedge funds and other 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.