Morgan Stanley Issues Positive Forecast for DICK'S Sporting Goods (NYSE:DKS) Stock Price

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) had its target price lifted by equities research analysts at Morgan Stanley from $245.00 to $255.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the sporting goods retailer's stock. Morgan Stanley's target price would indicate a potential upside of 8.96% from the stock's previous close.

Other equities analysts have also issued reports about the stock. Truist Financial upped their price target on shares of DICK'S Sporting Goods from $256.00 to $258.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Loop Capital increased their price target on DICK'S Sporting Goods from $220.00 to $225.00 and gave the stock a "hold" rating in a research note on Wednesday, November 27th. Wedbush restated a "neutral" rating and issued a $215.00 price objective (down from $250.00) on shares of DICK'S Sporting Goods in a research report on Wednesday, November 27th. TD Cowen increased their target price on DICK'S Sporting Goods from $270.00 to $294.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, UBS Group raised DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $246.57.

DICK'S Sporting Goods Stock Performance

DKS stock traded up $6.00 during trading on Tuesday, reaching $234.03. The stock had a trading volume of 917,508 shares, compared to its average volume of 1,060,292. The firm has a market cap of $19.07 billion, a PE ratio of 16.73, a PEG ratio of 2.60 and a beta of 1.58. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The stock's 50 day moving average is $218.96 and its two-hundred day moving average is $214.06. DICK'S Sporting Goods has a 52 week low of $146.86 and a 52 week high of $239.30.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.07. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.03 billion. During the same quarter in the prior year, the business earned $2.85 EPS. The business's quarterly revenue was up .5% on a year-over-year basis. As a group, equities analysts anticipate that DICK'S Sporting Goods will post 13.88 earnings per share for the current year.

Insider Buying and Selling at DICK'S Sporting Goods

In other DICK'S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of DICK'S Sporting Goods stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the sale, the director now directly owns 50,997 shares of the company's stock, valued at $11,808,355.35. The trade was a 12.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Edward W. Stack sold 160,600 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the completion of the transaction, the chairman now directly owns 8,362,128 shares of the company's stock, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 32.03% of the company's stock.

Hedge Funds Weigh In On DICK'S Sporting Goods

Several large investors have recently bought and sold shares of the stock. First Citizens Bank & Trust Co. boosted its stake in shares of DICK'S Sporting Goods by 15.6% during the fourth quarter. First Citizens Bank & Trust Co. now owns 2,205 shares of the sporting goods retailer's stock worth $505,000 after buying an additional 298 shares during the period. Flagship Harbor Advisors LLC acquired a new position in DICK'S Sporting Goods during the fourth quarter worth $232,000. Impact Partnership Wealth LLC increased its holdings in shares of DICK'S Sporting Goods by 14.8% in the 4th quarter. Impact Partnership Wealth LLC now owns 1,679 shares of the sporting goods retailer's stock valued at $384,000 after purchasing an additional 217 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of DICK'S Sporting Goods by 590.0% during the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock valued at $32,000 after acquiring an additional 118 shares during the period. Finally, Montecito Bank & Trust raised its holdings in DICK'S Sporting Goods by 28.1% during the fourth quarter. Montecito Bank & Trust now owns 1,780 shares of the sporting goods retailer's stock worth $407,000 after purchasing an additional 390 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

DICK'S Sporting Goods Company Profile

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.