TD Cowen Forecasts Strong Price Appreciation for DICK'S Sporting Goods (NYSE:DKS) Stock

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) had its price target raised by equities researchers at TD Cowen from $270.00 to $294.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the sporting goods retailer's stock. TD Cowen's target price suggests a potential upside of 26.33% from the company's current price.

Several other equities research analysts also recently issued reports on DKS. Telsey Advisory Group reiterated an "outperform" rating and set a $260.00 price objective on shares of DICK'S Sporting Goods in a research note on Tuesday, November 26th. Loop Capital increased their price target on DICK'S Sporting Goods from $220.00 to $225.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. UBS Group upgraded DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. Truist Financial raised their target price on DICK'S Sporting Goods from $256.00 to $258.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Finally, Wedbush restated a "neutral" rating and issued a $215.00 price target (down previously from $250.00) on shares of DICK'S Sporting Goods 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $246.10.

DICK'S Sporting Goods Trading Up 2.3 %

NYSE:DKS traded up $5.13 during trading hours on Wednesday, reaching $232.72. 820,652 shares of the company were exchanged, compared to its average volume of 957,950. The firm has a market cap of $18.96 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 2.52 and a beta of 1.58. The stock has a 50 day simple moving average of $213.50 and a 200 day simple moving average of $213.03. DICK'S Sporting Goods has a 52-week low of $137.44 and a 52-week high of $239.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

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

Insider Buying and Selling at DICK'S Sporting Goods

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

Institutional Trading of DICK'S Sporting Goods

Large investors have recently added to or reduced their stakes in the business. Kerusso Capital Management LLC bought a new stake in DICK'S Sporting Goods during the third quarter worth approximately $1,554,000. National Pension Service bought a new stake in shares of DICK'S Sporting Goods in the 3rd quarter worth $4,195,000. Strategy Asset Managers LLC acquired a new stake in shares of DICK'S Sporting Goods in the third quarter valued at $4,325,000. Landscape Capital Management L.L.C. boosted its stake in DICK'S Sporting Goods by 402.9% during the third quarter. Landscape Capital Management L.L.C. now owns 15,344 shares of the sporting goods retailer's stock valued at $3,202,000 after buying an additional 12,293 shares in the last quarter. Finally, Bridgewater Associates LP grew its holdings in DICK'S Sporting Goods by 245.7% during the third quarter. Bridgewater Associates LP now owns 6,002 shares of the sporting goods retailer's stock worth $1,253,000 after acquiring an additional 4,266 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

About DICK'S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.