Truist Financial Forecasts Strong Price Appreciation for DICK’S Sporting Goods (NYSE:DKS) Stock

DICK’S Sporting Goods (NYSE:DKS) had its price objective boosted by Truist Financial from $256.00 to $258.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the sporting goods retailer’s stock.

Other analysts have also recently issued reports about the company. Robert W. Baird reissued a “neutral” rating and issued a $235.00 price target on shares of DICK’S Sporting Goods in a research report on Wednesday, August 28th. Barclays boosted their price target on DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Evercore ISI reissued an “outperform” rating and issued a $280.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $225.00 to $260.00 in a report on Wednesday. Finally, Citigroup decreased their price objective on shares of DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $244.95.

DICK’S Sporting Goods Stock Performance

Shares of DKS opened at $207.24 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average price is $205.75 and its 200-day moving average price is $210.68. DICK’S Sporting Goods has a 52 week low of $126.24 and a 52 week high of $239.30. The stock has a market cap of $16.87 billion, a P/E ratio of 14.81, a P/E/G ratio of 2.43 and a beta of 1.64.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.07. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the previous year, the firm posted $2.85 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts anticipate that DICK’S Sporting Goods will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.10 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 2.12%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 31.45%.

Institutional Investors Weigh In On DICK’S Sporting Goods

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in shares of DICK’S Sporting Goods in the 3rd quarter worth $27,000. ICA Group Wealth Management LLC purchased a new stake in shares of DICK’S Sporting Goods in the 2nd quarter worth $28,000. ORG Partners LLC purchased a new stake in shares of DICK’S Sporting Goods in the 2nd quarter worth $30,000. ORG Wealth Partners LLC purchased a new stake in shares of DICK’S Sporting Goods in the 3rd quarter worth $30,000. Finally, Innealta Capital LLC purchased a new stake in shares of DICK’S Sporting Goods in the 2nd quarter worth $31,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.