Barclays Raises Dicks Sporting Goods (NYSE:DKS) Price Target to $51.00

Dicks Sporting Goods (NYSE:DKS) had its price objective raised by Barclays from $45.00 to $51.00 in a research note released on Tuesday morning, The Fly reports. Barclays currently has an overweight rating on the sporting goods retailer’s stock.

Several other analysts also recently weighed in on the company. UBS Group lifted their target price on Dicks Sporting Goods from $43.00 to $47.00 and gave the company a neutral rating in a research note on Tuesday, July 28th. Stifel Nicolaus lifted their target price on Dicks Sporting Goods from $26.00 to $34.00 and gave the company a hold rating in a research note on Tuesday, June 2nd. Telsey Advisory Group lifted their target price on Dicks Sporting Goods from $30.00 to $43.00 and gave the company an outperform rating in a research note on Friday, May 29th. Nomura Instinet lifted their target price on Dicks Sporting Goods from $28.00 to $33.00 and gave the company a neutral rating in a research note on Monday, May 11th. Finally, Goldman Sachs Group lifted their target price on Dicks Sporting Goods from $40.00 to $50.00 and gave the company a buy rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the stock. Dicks Sporting Goods presently has a consensus rating of Hold and an average target price of $44.44.

Shares of NYSE DKS traded up $0.23 during mid-day trading on Tuesday, hitting $46.50. The company had a trading volume of 50,065 shares, compared to its average volume of 2,579,345. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 45.24, a PEG ratio of 13.71 and a beta of 1.62. Dicks Sporting Goods has a 12 month low of $13.46 and a 12 month high of $49.80. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.04 and a quick ratio of 0.92. The firm’s 50 day simple moving average is $42.71 and its two-hundred day simple moving average is $35.45.

Dicks Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, June 2nd. The sporting goods retailer reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.71). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.30 billion. Dicks Sporting Goods had a return on equity of 9.84% and a net margin of 1.18%. The company’s revenue for the quarter was down 30.6% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. Equities analysts forecast that Dicks Sporting Goods will post 0.82 earnings per share for the current year.

In related news, SVP John Edward Hayes III sold 2,000 shares of Dicks Sporting Goods stock in a transaction on Monday, June 29th. The stock was sold at an average price of $41.22, for a total value of $82,440.00. Following the transaction, the senior vice president now directly owns 36,091 shares in the company, valued at approximately $1,487,671.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 30.57% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in shares of Dicks Sporting Goods by 4.6% during the first quarter. State of Alaska Department of Revenue now owns 10,937 shares of the sporting goods retailer’s stock valued at $232,000 after buying an additional 484 shares in the last quarter. ICM Asset Management Inc. WA grew its holdings in shares of Dicks Sporting Goods by 1.4% during the first quarter. ICM Asset Management Inc. WA now owns 43,300 shares of the sporting goods retailer’s stock valued at $921,000 after buying an additional 600 shares in the last quarter. Smith Graham & Co. Investment Advisors LP grew its holdings in shares of Dicks Sporting Goods by 0.4% during the second quarter. Smith Graham & Co. Investment Advisors LP now owns 155,657 shares of the sporting goods retailer’s stock valued at $6,422,000 after buying an additional 613 shares in the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of Dicks Sporting Goods by 2,375.0% during the second quarter. Cornerstone Advisors Inc. now owns 693 shares of the sporting goods retailer’s stock valued at $29,000 after buying an additional 665 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Dicks Sporting Goods by 335.0% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 870 shares of the sporting goods retailer’s stock valued at $36,000 after buying an additional 670 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

Dicks Sporting Goods Company Profile

Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps, free league management services, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

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