DICK’S Sporting Goods (NYSE:DKS) Price Target Raised to $170.00 at Citigroup

DICK’S Sporting Goods (NYSE:DKS) had its target price lifted by Citigroup from $160.00 to $170.00 in a research report sent to investors on Wednesday, The Fly reports. Citigroup currently has a buy rating on the sporting goods retailer’s stock.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company initiated coverage on DICK’S Sporting Goods in a research note on Wednesday, August 11th. They issued an equal weight rating for the company. Zacks Investment Research raised DICK’S Sporting Goods from a hold rating to a strong-buy rating and set a $136.00 target price for the company in a research note on Wednesday, October 6th. Stephens raised their target price on DICK’S Sporting Goods from $95.00 to $129.00 and gave the company an equal weight rating in a research note on Friday, August 27th. Credit Suisse Group raised their target price on DICK’S Sporting Goods from $88.00 to $123.00 and gave the company a neutral rating in a research note on Thursday, August 26th. Finally, Morgan Stanley upped their target price on DICK’S Sporting Goods from $120.00 to $145.00 and gave the company an overweight rating in a report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $126.55.

Shares of NYSE DKS opened at $127.30 on Wednesday. DICK’S Sporting Goods has a 1-year low of $51.51 and a 1-year high of $147.39. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 0.94. The business’s fifty day moving average price is $127.15 and its two-hundred day moving average price is $113.09. The firm has a market capitalization of $11.28 billion, a PE ratio of 10.62, a P/E/G ratio of 0.84 and a beta of 1.72.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Monday, November 22nd. The sporting goods retailer reported $3.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $1.22. DICK’S Sporting Goods had a return on equity of 50.69% and a net margin of 10.69%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the business posted $2.01 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities research analysts expect that DICK’S Sporting Goods will post 12.91 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 29th. Stockholders of record on Friday, December 10th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, December 9th. DICK’S Sporting Goods’s dividend payout ratio is 14.60%.

In other DICK’S Sporting Goods news, CFO Lee J. Belitsky sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $144.12, for a total value of $2,882,400.00. Following the sale, the chief financial officer now owns 269,943 shares of the company’s stock, valued at approximately $38,904,185.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lee J. Belitsky sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $134.86, for a total value of $4,720,100.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,744 shares of company stock worth $9,157,069. 30.09% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in DKS. Cypress Point Wealth Management LLC acquired a new stake in shares of DICK’S Sporting Goods during the 2nd quarter worth approximately $25,000. Spire Wealth Management acquired a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $26,000. Pinnacle Holdings LLC acquired a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $31,000. Ameritas Investment Company LLC acquired a new stake in shares of DICK’S Sporting Goods during the 1st quarter worth approximately $33,000. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $35,000. 89.50% of the stock is currently owned by institutional investors.

DICK’S Sporting Goods Company Profile

Dick’s Sporting Goods, Inc engages in the retail of extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.

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