Zacks Investment Research downgrades DICK’S Sporting Goods (NYSE:DKS) to keep it
DICK’S Sporting Goods (NYSE: DKS – Get a rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report released Monday to clients and investors, Zacks.com reports. They currently have a price target of $108.00 on the sporting goods retailer’s stock. Zacks Investment ResearchThe stock’s price target indicates a potential upside of 12.01% from the current stock price.
According to Zacks, “DICK’S Sporting shares have outpaced the industry in one year. The stock’s bull run can be attributed to the robust surprise trend, which continued into the fourth quarter of fiscal 2021. Both the upper and lower results exceeded the Zacks consensus estimate and continued also improved year on year. This is the seventh consecutive quarter of beating profits and sales. Results were driven by customer demand and improved product assortment, resulting in strong sales and improved merchandise margin. The net result benefited from the expansion of the gross margin rate and the reduction of general and administrative expenses. Its store expansion initiatives and strong online lounge bode well. However, he witnessed higher freight costs and supply chain issues. As a result, management issued a dismal view for fiscal 2022. Inflation and soaring oil prices also remain concerns.
Other stock analysts have also recently published research reports on the company. Truist Financial raised its price target on DICK’S Sporting Goods from $168.00 to $180.00 and gave the stock a “buy” rating in a Wednesday, March 9 report. Barclays reduced its price target on DICK’S Sporting Goods from $147.00 to $134.00 in a Friday April 1 research note. Cowen raised his price target on DICK’S Sporting Goods from $161.00 to $165.00 and gave the stock an “outperform” rating in a Wednesday, March 9 research note. Wells Fargo & Company reduced its price target on DICK’S Sporting Goods from $132.00 to $122.00 and set an “equal weight” rating for the company in a Thursday, March 24 research note. To finish, StockNews.com assumed coverage on DICK’S Sporting Goods in a Thursday, March 31, research note. They set a “holding” rating for the company. One financial analyst gave the stock a sell rating, eleven gave the company a hold rating and nine gave the company a buy rating. According to data from MarketBeat.com, DICK’S Sporting Goods currently has an average rating of “Hold” and a consensus target price of $134.68.
Shares of Stock of DICK’S sporting goods opened at $96.42 on Monday. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 6.95, a growth price-to-earnings ratio of 1.60 and a beta of 1.68. The company has a debt ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.88. The stock has a 50-day moving average price of $105.09 and a 200-day moving average price of $112.80. DICK’S Sporting Goods has a one-year minimum of $80.42 and a one-year maximum of $147.39.
DICK’S Sporting Goods (NYSE: DKS – Get a rating) last announced its results on Tuesday, March 8. The sporting goods retailer reported EPS of $3.64 for the quarter, beating the Zacks consensus estimate of $3.54 by $0.10. The company posted revenue of $3.35 billion in the quarter, versus $3.31 billion expected by analysts. DICK’S Sporting Goods had a return on equity of 60.28% and a net margin of 12.36%. The company’s quarterly revenue increased 7.2% year over year. In the same quarter of the previous year, the company achieved EPS of $2.43. Sell-side analysts expect DICK’S Sporting Goods to post earnings per share of 12.65 for the current fiscal year.
In related news, CFO Navdeep Gupta sold 9,614 shares of the company in a trade on Friday, April 8. The stock was sold at an average price of $104.13, for a total transaction of $1,001,105.82. Following the transaction, the CFO now directly owns 95,272 shares of the company, valued at approximately $9,920,673.36. The sale was disclosed in a document filed with the SEC, accessible via this link. Additionally, SVP Julie Lodge-Jarrett sold 9,139 shares of the company in a trade on Tuesday, March 15. The stock was sold at an average price of $109.02, for a total value of $996,333.78. Disclosure of this sale can be found here. Insiders sold a total of 190,886 shares of the company worth $20,211,002 during the last quarter. Insiders of the company hold 30.09% of the shares of the company.
A number of hedge funds have recently changed their positions in the stock. Navellier & Associates Inc. increased its stake in DICK’S Sporting Goods by 567.0% in the 1st quarter. Navellier & Associates Inc. now owns 39,849 shares of the sporting goods retailer worth $3,986,000 after buying 33,875 additional shares in the last quarter. Foster & Motley Inc. increased its stake in DICK’S Sporting Goods by 13.0% in the 1st quarter. Foster & Motley Inc. now owns 52,006 shares of the sporting goods retailer worth $5,202,000 after buying an additional 5,978 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in DICK’S Sporting Goods during Q1 valued at approximately $51,000. Comerica Bank increased its stake in DICK’S Sporting Goods by 1.4% in the 1st quarter. Comerica Bank now owns 46,232 shares of the sporting goods retailer worth $4,970,000 after buying an additional 630 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in DICK’S Sporting Goods during Q1 worth approximately $62,000. Hedge funds and other institutional investors own 92.06% of the company’s shares.
DICK’S Sporting Goods Company Profile (Get a rating)
DICK’S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the Eastern United States. The Company provides front-line items, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing equipment; clothes; and shoes and accessories.
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