DICK’S Sporting Goods (NYSE:DKS) Price Target Cut to $123.00

DICK’S Sporting Goods (NYSE:DKS – Get Rating) had its target price lowered by equities research analysts at DA Davidson to $123.00 in a research report issued on Thursday, Stock Target Advisor reports. DA Davidson’s target price would indicate a potential upside of 45.68% from the company’s current price. DA Davidson also issued estimates for DICK’S Sporting Goods’ Q1 2023 earnings at $2.38 EPS, FY2023 earnings at $12.18 EPS, FY2024 earnings at $13.01 EPS and FY2024 earnings at $13.01 EPS.

Several other research firms have also issued reports on DKS. Gordon Haskett raised shares of DICK’S Sporting Goods from a “reduce” rating to a “hold” rating and set a $78.00 price objective for the company in a research note on Thursday. Bank of America lowered their price objective on DICK’S Sporting Goods from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday. Wedbush reduced their target price on DICK’S Sporting Goods from $140.00 to $110.00 in a report on Thursday. Citigroup lowered their price target on DICK’S Sporting Goods from $170.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Cowen lowered their target price on shares of DICK’S Sporting Goods to $126.00 in a research note on Thursday. One investment 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $117.58.

NYSE DKS traded up $6.29 on Thursday, reaching $84.43. The stock had a trading volume of 133,996 shares, compared to its average volume of 2,240,669. The company has a current ratio of 1.88, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. DICK’S Sporting Goods has a 1 year low of $63.45 and a 1 year high of $147.39. The business has a 50 day moving average price of $98.49 and a 200 day moving average price of $108.36. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 6.08, a P/E/G ratio of 1.26 and a beta of 1.60.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last released its quarterly earnings data on Wednesday, May 25th. The sporting goods retailer reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.43. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.63 billion. DICK’S Sporting Goods had a return on equity of 60.28% and a net margin of 12.36%. The firm’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.79 earnings per share. On average, analysts anticipate that DICK’S Sporting Goods will post 12.6 earnings per share for the current fiscal year.

In other DICK’S Sporting Goods news, SVP John Edward Hayes III sold 11,933 shares of the company’s stock in a transaction on Friday, April 8th. The stock was sold at an average price of $102.35, for a total value of $1,221,342.55. Following the sale, the senior vice president now directly owns 35,881 shares in the company, valued at $3,672,420.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald J. Germano sold 54,210 shares of DICK’S Sporting Goods stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $99.68, for a total value of $5,403,652.80. Following the transaction, the executive vice president now directly owns 91,269 shares of the company’s stock, valued at $9,097,693.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,886 shares of company stock valued at $20,211,002. 32.83% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp grew its stake in DICK’S Sporting Goods by 62.0% during the first quarter. Fifth Third Bancorp now owns 264 shares of the sporting goods retailer’s stock worth $26,000 after buying an additional 101 shares during the last quarter. Centric Wealth Management boosted its holdings in shares of DICK’S Sporting Goods by 0.6% in the 1st quarter. Centric Wealth Management now owns 21,520 shares of the sporting goods retailer’s stock worth $2,152,000 after acquiring an additional 127 shares in the last quarter. SkyOak Wealth LLC grew its position in DICK’S Sporting Goods by 5.5% during the 4th quarter. SkyOak Wealth LLC now owns 2,531 shares of the sporting goods retailer’s stock worth $291,000 after acquiring an additional 133 shares during the last quarter. CPR Investments Inc. increased its holdings in DICK’S Sporting Goods by 2.6% during the 1st quarter. CPR Investments Inc. now owns 5,318 shares of the sporting goods retailer’s stock valued at $532,000 after purchasing an additional 136 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in DICK’S Sporting Goods by 3.8% in the 1st quarter. First Citizens Bank & Trust Co. now owns 4,013 shares of the sporting goods retailer’s stock valued at $401,000 after purchasing an additional 146 shares during the last quarter. 78.92% of the stock is owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Company Profile (Get Rating)

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.

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