Zacks Funding Analysis Downgrades DICK’S Sporting Items (NYSE:DKS) to Maintain

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DICK’S Sporting Goods (NYSE:DKS – Get Rating) was downgraded from a “buy” rating to a “hold” rating by Zacks Investment Research in a research report issued to clients and investors on Monday, reports Zacks.com. They currently have a price target of $108.00 on the sporting goods retailer’s stock. Zacks Investment Research’s price target indicates a potential upside of 12.01% from the stock’s current price.

According to Zacks, “DICK’S Sporting stock has outperformed the industry in a year. The stock’s bullish trend on the stock exchanges is due to the robust surprise trend that continued in the fourth quarter of fiscal 2021. Both the top and bottom lines beat the Zacks Consensus estimate and also improved year-on-year. This marked the seventh straight quarter of earnings and sales. Results derived from customer demand and improved product assortment resulted in strong sales and improved merchandise margin. The bottom line benefited from the increase in gross margin and lower SG&A expenses. The store expansion initiatives and solid online show bode well. However, higher freight costs and supply chain issues have been observed. As a result, management issued a bleak outlook for fiscal 2022. Inflation and rising oil prices also remain a concern.”

Other equity analysts have also recently published research reports on the company. Truist Financial raised its target price on DICK’S Sporting Goods to $180.00 from $168.00 and gave the stock a “buy” rating in a report on Wednesday, March 9. Barclays lowered its target price on DICK’S Sporting Goods from $147.00 to $134.00 in a research note on Friday, April 1. Cowen raised his price target on DICK’S Sporting Goods to $165.00 from $161.00 and gave the stock an outperform rating in a research note on Wednesday, March 9th. Wells Fargo & Company lowered its target price on DICK’S Sporting Goods to $122.00 from $132.00 and issued a research note on Thursday, March 24, putting an “equal weight” rating on the company. Finally, on Thursday, March 31st, StockNews.com took over coverage of DICK’S Sporting Goods in a research note. You give the company a “hold” rating. One investment analyst has assigned a sell rating to the stock, eleven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, DICK’S Sporting Goods currently has an average rating of Hold and a consensus price target of $134.68.

Shares of DICK’S Sporting Goods opened at $96.42 on Monday. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-to-growth ratio of 1.60 and a beta of 1.68. The company has a debt to equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.88. The stock has a 50-day moving average price of $105.09 and a 200-day moving average price of $112.80. DICK’S Sporting Goods has a yearly low of $80.42 and a yearly high of $147.39.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last announced its earnings results on Tuesday, March 8th. The sporting goods retailer reported $3.64 EPS for the quarter, beating Zacks consensus estimate of $3.54 by $0.10. The company made $3.35 billion in revenue for the quarter, compared to analysts’ expectations of $3.31 billion. DICK’S Sporting Goods had a return on equity of 60.28% and a net margin of 12.36%. The company’s quarterly revenue rose 7.2% year over year. In the same quarter last year, the company earned $2.43 per share. Sell-side analysts are predicting that DICK’S Sporting Goods will report earnings per share of 12.65 for the current fiscal year.

In related news, CFO Navdeep Gupta sold 9,614 shares of the company’s shares in a transaction on Friday, April 8th. The stock sold at an average price of $104.13 for a total transaction of $1,001,105.82. Following the transaction, the Chief Financial Officer now directly owns 95,272 shares of the Company, valued at approximately $9,920,673.36. The sale was disclosed in a document filed with the SEC, which can be accessed at this link. In addition, SVP Julie Lodge-Jarrett sold 9,139 shares of the company’s stock in a transaction on Tuesday, March 15th. The stock sold at an average price of $109.02 for a total value of $996,333.78. The disclosure for this sale can be found here. Insiders sold a total of 190,886 shares of the company’s shares worth $20,211,002 last quarter. Company insiders own 30.09% of the company’s shares.

A number of hedge funds recently changed their positions in the stock. Navellier & Associates Inc. increased its stake in DICK’S Sporting Goods by 567.0% during the first quarter. Navellier & Associates Inc. now owns 39,849 shares of the sporting goods retailer, valued at $3,986,000, after purchasing an additional 33,875 shares last quarter. Foster & Motley Inc. increased its holding in DICK’S Sporting Goods by 13.0% during the first quarter. Foster & Motley Inc. now owns 52,006 shares of the sporting goods retailer, valued at $5,202,000, after purchasing an additional 5,978 shares last quarter. HHM Wealth Advisors LLC acquired a new interest in DICK’S Sporting Goods valued at approximately $51,000 during the first quarter. Comerica Bank increased its holding in DICK’S Sporting Goods by 1.4% in the first quarter. Comerica Bank now owns 46,232 shares of the sporting goods retailer, valued at $4,970,000, after buying another 630 shares last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new interest in DICK’S Sporting Goods valued at approximately $62,000 during Q1. Hedge funds and other institutional investors own 92.06% of the company’s shares.

DICK’S Sporting Goods Company Profile (get rating)

DICK’S Sporting Goods, Inc, along with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The Company offers hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; Clothing; and shoes and accessories.

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