Canaccord Genuity restated their buy rating on shares of Dick’s Sporting Goods Inc. (NYSE:DKS) in a research report sent to investors on Thursday morning. The firm currently has a $70.00 target price on the sporting goods retailer’s stock.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Dick’s Sporting Goods from a hold rating to a buy rating and set a $63.00 target price on the stock in a report on Tuesday, October 4th. Off Wall Street assumed coverage on shares of Dick’s Sporting Goods in a report on Thursday, September 29th. They issued a sell rating on the stock. Brean Capital restated a buy rating on shares of Dick’s Sporting Goods in a report on Thursday, September 22nd. Guggenheim assumed coverage on shares of Dick’s Sporting Goods in a report on Tuesday, September 20th. They issued a neutral rating on the stock. Finally, Oppenheimer Holdings Inc. upgraded shares of Dick’s Sporting Goods from a market perform rating to an outperform rating and set a $75.00 target price on the stock in a report on Thursday, September 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $59.40.
Shares of Dick’s Sporting Goods (NYSE:DKS) opened at 57.63 on Thursday. Dick’s Sporting Goods has a 1-year low of $33.42 and a 1-year high of $61.94. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 20.19 and a beta of 0.85. The stock has a 50 day moving average of $58.94 and a 200 day moving average of $49.57.
Dick’s Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, August 16th. The sporting goods retailer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.13. Dick’s Sporting Goods had a net margin of 4.32% and a return on equity of 18.43%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the business earned $0.77 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that Dick’s Sporting Goods will post $3.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were issued a $0.1513 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.61 dividend on an annualized basis and a yield of 1.05%. Dick’s Sporting Goods’s dividend payout ratio is presently 21.33%.
In related news, EVP Michele Willoughby sold 36,737 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $58.78, for a total value of $2,159,400.86. Following the transaction, the executive vice president now directly owns 98,923 shares of the company’s stock, valued at approximately $5,814,693.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 22.96% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of DKS. Wellington Management Group LLP acquired a new position in Dick’s Sporting Goods during the first quarter worth approximately $103,767,000. Norges Bank purchased a new stake in shares of Dick’s Sporting Goods during the fourth quarter valued at about $35,091,000. TIAA CREF Investment Management LLC boosted its stake in shares of Dick’s Sporting Goods by 76.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,584,265 shares of the sporting goods retailer’s stock valued at $74,064,000 after buying an additional 686,073 shares during the period. TimesSquare Capital Management LLC purchased a new stake in shares of Dick’s Sporting Goods during the second quarter valued at about $23,666,000. Finally, GLG Partners LP purchased a new stake in shares of Dick’s Sporting Goods during the second quarter valued at about $19,853,000. 72.16% of the stock is currently owned by institutional investors.
About Dick’s Sporting Goods
DICK’S Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, as well as e-commerce Websites at www.DICKS.com, www.golfgalaxy.com, www.fieldandstreamshop.com and www.caliastudio.com.
Receive News & Ratings for Dick's Sporting Goods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dick's Sporting Goods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.