Dicks Sporting Goods (DKS) PT Set at $40.00 by Bank of America

Bank of America set a $40.00 price target on Dicks Sporting Goods (NYSE:DKS) in a research report sent to investors on Sunday morning. The brokerage currently has a hold rating on the sporting goods retailer’s stock.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Dicks Sporting Goods from an overweight rating to a neutral rating and lowered their target price for the company from $46.00 to $41.00 in a research note on Thursday. Morgan Stanley upped their target price on shares of Dicks Sporting Goods from $35.00 to $36.00 and gave the company an equal weight rating in a research note on Thursday, October 11th. Zacks Investment Research downgraded shares of Dicks Sporting Goods from a buy rating to a hold rating in a research note on Friday, August 31st. Canaccord Genuity set a $36.00 target price on shares of Dicks Sporting Goods and gave the company a hold rating in a research note on Wednesday, August 29th. Finally, ValuEngine raised shares of Dicks Sporting Goods from a strong sell rating to a sell rating in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. Dicks Sporting Goods presently has an average rating of Hold and a consensus price target of $39.50.

Shares of NYSE DKS opened at $35.98 on Friday. Dicks Sporting Goods has a 1-year low of $28.05 and a 1-year high of $39.75. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.79 and a beta of 0.32. The company has a quick ratio of 0.19, a current ratio of 1.61 and a debt-to-equity ratio of 0.24.

Dicks Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Wednesday, November 28th. The sporting goods retailer reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.13. Dicks Sporting Goods had a net margin of 3.87% and a return on equity of 18.10%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. Dicks Sporting Goods’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Dicks Sporting Goods will post 3.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, December 13th. Dicks Sporting Goods’s dividend payout ratio (DPR) is presently 29.90%.

Several institutional investors have recently added to or reduced their stakes in DKS. LSV Asset Management boosted its holdings in Dicks Sporting Goods by 302.2% during the second quarter. LSV Asset Management now owns 3,155,441 shares of the sporting goods retailer’s stock worth $111,229,000 after purchasing an additional 2,370,857 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Dicks Sporting Goods by 74.8% during the third quarter. Prudential Financial Inc. now owns 2,547,444 shares of the sporting goods retailer’s stock worth $90,384,000 after purchasing an additional 1,090,440 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Dicks Sporting Goods by 72.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,388,594 shares of the sporting goods retailer’s stock worth $84,747,000 after purchasing an additional 1,005,924 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Dicks Sporting Goods by 36.0% during the third quarter. Bank of New York Mellon Corp now owns 3,312,654 shares of the sporting goods retailer’s stock worth $117,532,000 after purchasing an additional 877,277 shares during the last quarter. Finally, FMR LLC boosted its holdings in Dicks Sporting Goods by 504.5% during the third quarter. FMR LLC now owns 1,019,461 shares of the sporting goods retailer’s stock worth $36,172,000 after purchasing an additional 850,809 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

About Dicks Sporting Goods

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 for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

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Analyst Recommendations for Dicks Sporting Goods (NYSE:DKS)

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