Wedbush Reiterates “Neutral” Rating for DICK’S Sporting Goods (NYSE:DKS)

DICK’S Sporting Goods (NYSE:DKS)‘s stock had its “neutral” rating reiterated by equities researchers at Wedbush in a research report issued on Wednesday,RTT News reports. They presently have a $215.00 price target on the sporting goods retailer’s stock, down from their previous price target of $250.00. Wedbush’s target price would suggest a potential upside of 0.63% from the stock’s previous close.

A number of other equities research analysts have also commented on DKS. Loop Capital increased their price objective on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday. Evercore ISI reiterated an “outperform” rating and issued a $280.00 price objective on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. DA Davidson reiterated a “buy” rating and issued a $265.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their price objective on DICK’S Sporting Goods from $211.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, Citigroup dropped their target price on DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.95.

DICK’S Sporting Goods Stock Performance

DKS stock traded up $1.44 on Wednesday, reaching $213.66. 1,938,941 shares of the company were exchanged, compared to its average volume of 1,091,869. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 0.69. The firm has a market capitalization of $17.39 billion, a PE ratio of 15.68, a PEG ratio of 2.45 and a beta of 1.64. The stock’s fifty day moving average price is $205.76 and its 200 day moving average price is $210.64. DICK’S Sporting Goods has a 12 month low of $120.39 and a 12 month high of $239.30.

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

Institutional Trading of DICK’S Sporting Goods

Several institutional investors and hedge funds have recently made changes to their positions in DKS. State Street Corp increased its holdings in DICK’S Sporting Goods by 1.2% during the third quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock worth $473,945,000 after buying an additional 27,155 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of DICK’S Sporting Goods by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,788,820 shares of the sporting goods retailer’s stock worth $373,327,000 after acquiring an additional 57,672 shares during the period. Renaissance Technologies LLC grew its stake in shares of DICK’S Sporting Goods by 51.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,106,341 shares of the sporting goods retailer’s stock worth $237,697,000 after acquiring an additional 375,600 shares during the period. Geode Capital Management LLC increased its holdings in DICK’S Sporting Goods by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer’s stock worth $217,169,000 after acquiring an additional 10,640 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in DICK’S Sporting Goods by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 780,346 shares of the sporting goods retailer’s stock valued at $167,683,000 after acquiring an additional 102,609 shares during the period. Hedge funds and other institutional investors 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.