Loop Capital Issues Positive Forecast for DICK’S Sporting Goods (NYSE:DKS) Stock Price

DICK’S Sporting Goods (NYSE:DKS) had its target price upped by research analysts at Loop Capital from $220.00 to $225.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the sporting goods retailer’s stock. Loop Capital’s price target suggests a potential upside of 1.04% from the stock’s previous close.

Several other equities research analysts have also issued reports on DKS. DA Davidson reissued a “buy” rating and set a $265.00 target price on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Citigroup reduced their target price on DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Barclays lifted their price target on shares of DICK’S Sporting Goods from $247.00 to $254.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Bank of America increased their price objective on shares of DICK’S Sporting Goods from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, Wells Fargo & Company cut their target price on shares of DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $246.52.

DICK’S Sporting Goods Stock Performance

Shares of DKS stock traded up $10.47 during mid-day trading on Wednesday, reaching $222.69. The stock had a trading volume of 418,488 shares, compared to its average volume of 1,085,340. The business’s fifty day moving average is $205.78 and its 200-day moving average is $210.53. The company has a current ratio of 1.77, a quick ratio of 0.69 and a debt-to-equity ratio of 0.51. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.45 and a beta of 1.64. DICK’S Sporting Goods has a 1-year low of $120.39 and a 1-year high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping the consensus estimate of $2.68 by $0.07. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. DICK’S Sporting Goods’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned $2.85 earnings per share. On average, research analysts forecast that DICK’S Sporting Goods will post 13.88 earnings per share for the current year.

Hedge Funds Weigh In On DICK’S Sporting Goods

Several large investors have recently modified their holdings of DKS. Renaissance Technologies LLC raised its holdings in DICK’S Sporting Goods by 51.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,106,341 shares of the sporting goods retailer’s stock valued at $237,697,000 after buying an additional 375,600 shares during the period. Holocene Advisors LP acquired a new position in shares of DICK’S Sporting Goods in the 3rd quarter worth approximately $70,562,000. KBC Group NV boosted its position in shares of DICK’S Sporting Goods by 887.3% during the 3rd quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer’s stock worth $52,253,000 after purchasing an additional 225,015 shares during the period. International Assets Investment Management LLC increased its holdings in DICK’S Sporting Goods by 19,851.3% in the 3rd quarter. International Assets Investment Management LLC now owns 208,491 shares of the sporting goods retailer’s stock valued at $43,512,000 after purchasing an additional 207,446 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in DICK’S Sporting Goods by 1,718.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock valued at $41,740,000 after purchasing an additional 189,000 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

About DICK’S Sporting Goods

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