Robert W. Baird Issues Pessimistic Forecast for DICK’S Sporting Goods (NYSE:DKS) Stock Price

DICK’S Sporting Goods (NYSE:DKS) had its target price dropped by Robert W. Baird from $235.00 to $230.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the sporting goods retailer’s stock. Robert W. Baird’s target price would suggest a potential upside of 23.20% from the stock’s previous close.

A number of other analysts have also issued reports on DKS. Loop Capital lifted their price objective on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Argus lifted their price objective on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Morgan Stanley lifted their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wedbush reissued a “neutral” rating and set a $215.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, March 6th. Finally, Stifel Nicolaus decreased their price target on shares of DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating for the company in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $245.55.

DICK’S Sporting Goods Trading Down 4.3 %

NYSE DKS opened at $186.69 on Wednesday. The firm has a market capitalization of $15.21 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.47 and a beta of 1.53. The company’s 50 day moving average price is $230.08 and its 200 day moving average price is $218.77. DICK’S Sporting Goods has a one year low of $182.84 and a one year high of $254.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $3.85 earnings per share. On average, sell-side analysts predict that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods announced that its board has initiated a share repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes 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 believes its stock is undervalued.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the sale, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is owned by insiders.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of hedge funds have recently added to or reduced their stakes in the stock. Greenleaf Trust raised its stake in shares of DICK’S Sporting Goods by 3.0% during the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock valued at $394,000 after purchasing an additional 50 shares in the last quarter. Independent Advisor Alliance raised its stake in shares of DICK’S Sporting Goods by 5.4% during the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock valued at $235,000 after purchasing an additional 53 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of DICK’S Sporting Goods by 1.7% during the third quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock valued at $675,000 after purchasing an additional 54 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of DICK’S Sporting Goods by 2.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock valued at $577,000 after purchasing an additional 54 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of DICK’S Sporting Goods by 5.9% during the fourth quarter. EP Wealth Advisors LLC now owns 1,016 shares of the sporting goods retailer’s stock valued at $232,000 after purchasing an additional 57 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

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.