Telsey Advisory Group Cuts DICK’S Sporting Goods (NYSE:DKS) Price Target to $110.00

DICK’S Sporting Goods (NYSE:DKSGet Rating) had its target price lowered by Telsey Advisory Group from $125.00 to $110.00 in a research note published on Thursday, Stock Target Advisor reports. Telsey Advisory Group currently has an outperform rating on the sporting goods retailer’s stock. Telsey Advisory Group also issued estimates for DICK’S Sporting Goods’ Q1 2024 earnings at $2.52 EPS, Q2 2024 earnings at $4.70 EPS, Q3 2024 earnings at $3.09 EPS and Q4 2024 earnings at $3.60 EPS.

Other equities analysts also recently issued research reports about the stock. Cowen increased their price target on shares of DICK’S Sporting Goods from $161.00 to $165.00 and gave the stock an outperform rating in a report on Wednesday, March 9th. Bank of America cut their price target on shares of DICK’S Sporting Goods from $160.00 to $130.00 and set a buy rating on the stock in a report on Tuesday, May 24th. Gordon Haskett upgraded shares of DICK’S Sporting Goods from a reduce rating to a hold rating and set a $78.00 price target on the stock in a report on Thursday. Stifel Nicolaus cut their price target on shares of DICK’S Sporting Goods from $113.00 to $75.00 in a report on Thursday. Finally, Barclays cut their price target on shares of DICK’S Sporting Goods from $134.00 to $106.00 and set an overweight rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $117.58.

Shares of DICK’S Sporting Goods stock opened at $84.70 on Thursday. The firm has a market capitalization of $6.76 billion, a P/E ratio of 6.55, a PEG ratio of 1.53 and a beta of 1.60. The company has a quick ratio of 1.04, a current ratio of 1.88 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $97.29 and a 200 day moving average price of $107.70. DICK’S Sporting Goods has a 52 week low of $63.45 and a 52 week high of $147.39.

DICK’S Sporting Goods (NYSE:DKSGet Rating) last announced its quarterly earnings data on Wednesday, May 25th. The sporting goods retailer reported $2.85 EPS for the quarter, beating the consensus estimate of $2.42 by $0.43. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.63 billion. DICK’S Sporting Goods had a net margin of 11.75% and a return on equity of 58.42%. DICK’S Sporting Goods’s revenue was down 7.5% on a year-over-year basis. During the same period last year, the firm posted $3.79 EPS. As a group, research analysts anticipate that DICK’S Sporting Goods will post 11.08 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, June 10th will be paid a $0.488 dividend. The ex-dividend date is Thursday, June 9th. This represents a $1.95 dividend on an annualized basis and a yield of 2.30%. DICK’S Sporting Goods’s dividend payout ratio is currently 15.07%.

In other DICK’S Sporting Goods news, CFO Navdeep Gupta sold 9,614 shares of the firm’s stock in a transaction on Friday, April 8th. The stock was sold at an average price of $104.13, for a total value of $1,001,105.82. Following the transaction, the chief financial officer now owns 95,272 shares in the company, valued at approximately $9,920,673.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee J. Belitsky sold 30,578 shares of the firm’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $107.57, for a total value of $3,289,275.46. Following the completion of the transaction, the executive vice president now owns 223,628 shares in the company, valued at approximately $24,055,663.96. The disclosure for this sale can be found here. Insiders sold a total of 190,886 shares of company stock worth $20,211,002 in the last three months. 32.83% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in DKS. Fifth Third Bancorp lifted its holdings in DICK’S Sporting Goods by 62.0% in the 1st quarter. Fifth Third Bancorp now owns 264 shares of the sporting goods retailer’s stock valued at $26,000 after purchasing an additional 101 shares in the last quarter. Pinnacle Holdings LLC purchased a new position in DICK’S Sporting Goods in the 3rd quarter valued at $31,000. Missouri Trust & Investment Co purchased a new position in DICK’S Sporting Goods in the 4th quarter valued at $34,000. Huntington National Bank raised its holdings in shares of DICK’S Sporting Goods by 36,600.0% during the 1st quarter. Huntington National Bank now owns 367 shares of the sporting goods retailer’s stock worth $37,000 after acquiring an additional 366 shares during the period. Finally, Sageworth Trust Co of South Dakota purchased a new position in shares of DICK’S Sporting Goods during the 4th quarter worth $44,000. Institutional investors own 78.92% of the company’s stock.

DICK’S Sporting Goods Company Profile (Get 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 hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.

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Analyst Recommendations for DICK'S Sporting Goods (NYSE:DKS)

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