Guggenheim Reaffirms Neutral Rating for DICK’S Sporting Goods (NYSE:DKS)

DICK’S Sporting Goods (NYSE:DKS)‘s stock had its “neutral” rating reiterated by analysts at Guggenheim in a report issued on Wednesday,Benzinga reports.

DKS has been the subject of a number of other research reports. TD Cowen upped their price objective on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Loop Capital upped their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a research note on Friday, March 7th. Morgan Stanley boosted their target price on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus decreased their price target on shares of DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $247.00.

DICK’S Sporting Goods Stock Performance

Shares of NYSE DKS traded down $3.93 during trading on Wednesday, reaching $195.04. 144,459 shares of the company traded hands, compared to its average volume of 1,155,846. The firm has a 50 day simple moving average of $230.77 and a 200-day simple moving average of $218.94. DICK’S Sporting Goods has a 52-week low of $182.25 and a 52-week high of $254.60. The stock has a market capitalization of $15.89 billion, a PE ratio of 13.95, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company posted $3.85 earnings per share. Equities research analysts anticipate that DICK’S Sporting Goods will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods declared that its board has approved a stock repurchase program on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the transaction, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This represents a 23.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is owned by insiders.

Institutional Trading of DICK’S Sporting Goods

Several hedge funds have recently modified their holdings of DKS. Park Square Financial Group LLC bought a new stake in DICK’S Sporting Goods in the fourth quarter worth $27,000. New Wave Wealth Advisors LLC purchased a new position in shares of DICK’S Sporting Goods in the 4th quarter worth $28,000. Ancora Advisors LLC purchased a new position in shares of DICK’S Sporting Goods in the 4th quarter worth $28,000. Brooklyn Investment Group bought a new stake in shares of DICK’S Sporting Goods in the 3rd quarter worth about $27,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of DICK’S Sporting Goods during the 4th quarter valued at about $30,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Company Profile

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.