Dick’s Sporting Goods Inc (NYSE:DKS) had its target price decreased by analysts at BMO Capital Markets from $37.00 to $32.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “outperform” rating on the sporting goods retailer’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 19.14% from the company’s previous close.
A number of other brokerages have also weighed in on DKS. Credit Suisse Group set a $44.00 price target on shares of Dick’s Sporting Goods and gave the company a “hold” rating in a report on Monday, August 7th. Zacks Investment Research raised shares of Dick’s Sporting Goods from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Telsey Advisory Group lowered shares of Dick’s Sporting Goods from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $52.00 to $40.00 in a report on Monday, July 24th. Canaccord Genuity reissued a “buy” rating and issued a $52.00 price target on shares of Dick’s Sporting Goods in a report on Friday, July 21st. Finally, OTR Global lowered shares of Dick’s Sporting Goods to a “positive” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, twenty-six have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $33.19.
Shares of Dick’s Sporting Goods (DKS) traded up $1.27 during trading on Wednesday, hitting $26.86. 7,609,300 shares of the company were exchanged, compared to its average volume of 2,962,594. The company has a current ratio of 1.51, a quick ratio of 0.24 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $2,798.65, a price-to-earnings ratio of 8.20, a P/E/G ratio of 1.11 and a beta of 0.48. Dick’s Sporting Goods has a fifty-two week low of $23.88 and a fifty-two week high of $62.80.
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In other Dick’s Sporting Goods news, Director William J. Colombo purchased 20,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average cost of $26.25 per share, for a total transaction of $525,000.00. Following the purchase, the director now owns 323,224 shares of the company’s stock, valued at $8,484,630. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.09% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. TIAA CREF Investment Management LLC increased its stake in shares of Dick’s Sporting Goods by 263.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 5,634,221 shares of the sporting goods retailer’s stock worth $224,411,000 after purchasing an additional 4,085,414 shares during the last quarter. Okumus Fund Management Ltd. acquired a new position in shares of Dick’s Sporting Goods during the 3rd quarter worth about $46,406,000. Northern Trust Corp increased its stake in shares of Dick’s Sporting Goods by 54.6% during the 2nd quarter. Northern Trust Corp now owns 3,791,180 shares of the sporting goods retailer’s stock worth $151,003,000 after purchasing an additional 1,339,379 shares during the last quarter. Manning & Napier Advisors LLC increased its stake in shares of Dick’s Sporting Goods by 1,173.1% during the 2nd quarter. Manning & Napier Advisors LLC now owns 1,043,955 shares of the sporting goods retailer’s stock worth $41,580,000 after purchasing an additional 961,955 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Dick’s Sporting Goods by 316.5% during the 3rd quarter. Prudential Financial Inc. now owns 1,158,619 shares of the sporting goods retailer’s stock worth $31,295,000 after purchasing an additional 880,464 shares during the last quarter. Hedge funds and other institutional investors own 75.92% of the company’s stock.
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 primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.
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