Wells Fargo & Company Issues Pessimistic Forecast for DICK’S Sporting Goods (NYSE:DKS) Stock Price

DICK’S Sporting Goods (NYSE:DKS) had its price target reduced by equities research analysts at Wells Fargo & Company from $205.00 to $171.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the sporting goods retailer’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 8.73% from the stock’s current price.

A number of other brokerages have also weighed in on DKS. Telsey Advisory Group reiterated an “outperform” rating and set a $250.00 price objective on shares of DICK’S Sporting Goods in a report on Friday, March 14th. Citigroup reiterated 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. StockNews.com lowered shares of DICK’S Sporting Goods from a “hold” rating to a “sell” rating in a research note on Tuesday, April 22nd. DA Davidson lowered their price target on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Finally, Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $241.61.

DICK’S Sporting Goods Price Performance

NYSE DKS opened at $187.35 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods has a 12 month low of $166.37 and a 12 month high of $254.60. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.47 and a beta of 1.32. The company’s 50 day moving average is $196.78 and its two-hundred day moving average is $212.43.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate of $3.47 by $0.15. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company’s revenue was up .5% on a year-over-year basis. During the same period last year, the firm earned $3.85 EPS. As a group, 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 approved a share buyback plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MTM Investment Management LLC raised its position in DICK’S Sporting Goods by 2.0% during the first quarter. MTM Investment Management LLC now owns 6,125 shares of the sporting goods retailer’s stock worth $1,264,000 after acquiring an additional 121 shares during the period. Reyes Financial Architecture Inc. raised its position in shares of DICK’S Sporting Goods by 50.1% during the 1st quarter. Reyes Financial Architecture Inc. now owns 512 shares of the sporting goods retailer’s stock worth $103,000 after purchasing an additional 171 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in DICK’S Sporting Goods by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 16,200 shares of the sporting goods retailer’s stock valued at $3,265,000 after buying an additional 100 shares in the last quarter. New York State Common Retirement Fund lifted its stake in DICK’S Sporting Goods by 4.7% in the 1st quarter. New York State Common Retirement Fund now owns 33,679 shares of the sporting goods retailer’s stock valued at $6,788,000 after buying an additional 1,500 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in DICK’S Sporting Goods by 6.9% in the 1st quarter. Xponance Inc. now owns 11,536 shares of the sporting goods retailer’s stock worth $2,325,000 after buying an additional 743 shares during the last quarter. Hedge funds and other 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.