DICK’S Sporting Goods (NYSE:DKS) Rating Lowered to “Hold” at TD Cowen

DICK’S Sporting Goods (NYSE:DKS) was downgraded by equities researchers at TD Cowen from a “buy” rating to a “hold” rating in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a $216.00 price objective on the sporting goods retailer’s stock. TD Cowen’s price target suggests a potential upside of 17.39% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Wedbush reiterated a “neutral” rating and issued a $215.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Barclays reduced their price objective on DICK’S Sporting Goods from $254.00 to $223.00 and set an “overweight” rating for the company in a research note on Monday, May 12th. Stifel Nicolaus lowered their target price on shares of DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company upped their price target on shares of DICK’S Sporting Goods from $171.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Morgan Stanley increased their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DICK’S Sporting Goods currently has an average rating of “Hold” and an average price target of $229.79.

DICK’S Sporting Goods Stock Performance

NYSE DKS opened at $184.01 on Thursday. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 2.47 and a beta of 1.16. DICK’S Sporting Goods has a twelve month low of $166.37 and a twelve month high of $254.60. The stock has a 50-day moving average of $192.01 and a 200 day moving average of $211.32. 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 (NYSE:DKS) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $3.85 EPS. Sell-side analysts anticipate that DICK’S Sporting Goods will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods announced that its board has approved a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DKS. Park Square Financial Group LLC acquired a new stake in shares of DICK’S Sporting Goods in the 4th quarter worth approximately $27,000. New Wave Wealth Advisors LLC purchased a new stake in DICK’S Sporting Goods during the fourth quarter worth $28,000. Ancora Advisors LLC acquired a new stake in DICK’S Sporting Goods in the fourth quarter valued at $28,000. Rialto Wealth Management LLC acquired a new stake in DICK’S Sporting Goods in the fourth quarter valued at $30,000. Finally, Sound Income Strategies LLC increased its position in shares of DICK’S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after buying an additional 118 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.