DICK’S Sporting Goods (NYSE:DKS) Given New $255.00 Price Target at Morgan Stanley

DICK’S Sporting Goods (NYSE:DKS) had its price target boosted by research analysts at Morgan Stanley from $245.00 to $255.00 in a 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 price objective would indicate a potential upside of 10.08% from the stock’s previous close.

Several other research analysts have also commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $215.00 price objective (down from $250.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, November 27th. Truist Financial raised their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. TD Cowen increased their price target on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their price objective for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Finally, Loop Capital lifted their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $246.57.

DICK’S Sporting Goods Stock Performance

NYSE:DKS traded up $3.62 during mid-day trading on Tuesday, reaching $231.65. The company’s stock had a trading volume of 246,448 shares, compared to its average volume of 1,001,722. The firm’s fifty day moving average price is $218.26 and its two-hundred day moving average price is $213.83. 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 has a market cap of $18.87 billion, a P/E ratio of 16.58, a PEG ratio of 2.60 and a beta of 1.58. DICK’S Sporting Goods has a 12-month low of $146.86 and a 12-month high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.07. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period last year, the firm earned $2.85 EPS. DICK’S Sporting Goods’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts forecast that DICK’S Sporting Goods will post 13.88 EPS for the current fiscal year.

Insider Activity

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the business’s 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 owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was 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 owns 8,362,128 shares in the company, valued at approximately $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.

Institutional Investors Weigh In On DICK’S Sporting Goods

Several hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Partners LLC grew its stake in DICK’S Sporting Goods by 37.0% in the third quarter. ORG Partners LLC now owns 200 shares of the sporting goods retailer’s stock worth $42,000 after purchasing an additional 54 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of DICK’S Sporting Goods by 1.7% in the 3rd quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock worth $675,000 after acquiring an additional 54 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of DICK’S Sporting Goods by 3.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,055 shares of the sporting goods retailer’s stock valued at $470,000 after acquiring an additional 70 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in shares of DICK’S Sporting Goods by 4.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,765 shares of the sporting goods retailer’s stock valued at $404,000 after acquiring an additional 81 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in DICK’S Sporting Goods by 5.7% during the third quarter. First Citizens Bank & Trust Co. now owns 1,907 shares of the sporting goods retailer’s stock worth $398,000 after purchasing an additional 103 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Company Profile

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.