Zacks Investment Research Downgrades DICK’S Sporting Goods (NYSE:DKS) to Hold

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

According to Zacks, “Shares of DICK’S Sporting have outpaced the industry in a year. The stock’s bullish run on the bourses can be attributable to the robust surprise trend, which continued in fourth-quarter fiscal 2021. Both the top and bottom lines surpassed the Zacks Consensus Estimate and also improved year over year. This marked the seventh straight quarter of earnings and sales beat. The results gained from customer demand and improved product assortment, leading to strong sales and improved merchandise margin. The bottom line gained from the gross margin rate expansion and lower SG&A costs. Its store expansion initiatives and solid online show bode well. However, it has been witnessing higher freight costs and supply-chain issues. As a result, management issued a dismal fiscal 2022 view. Inflation and surging oil prices also remain concerning.”

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Other equities analysts have also recently issued research reports about the company. Truist Financial lifted their target price on DICK’S Sporting Goods from $168.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 9th. Barclays decreased their price target on DICK’S Sporting Goods from $147.00 to $134.00 in a research note on Friday, April 1st. Cowen raised their price target on DICK’S Sporting Goods from $161.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 9th. Wells Fargo & Company decreased their price target on DICK’S Sporting Goods from $132.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, March 24th. Finally, StockNews.com assumed coverage on DICK’S Sporting Goods in a research note on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued 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 target price of $134.68.

Shares of DICK’S Sporting Goods stock 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-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 one year low of $80.42 and a one year high of $147.39.

DICK’S Sporting Goods (NYSE:DKSGet Rating) last announced its earnings results on Tuesday, March 8th. The sporting goods retailer reported $3.64 EPS for the quarter, topping the Zacks’ consensus estimate of $3.54 by $0.10. The firm had revenue of $3.35 billion during 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 was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.43 EPS. Sell-side analysts predict that DICK’S Sporting Goods will post 12.65 earnings per share for the current fiscal year.

In related news, CFO Navdeep Gupta sold 9,614 shares of the business’s stock in a transaction on Friday, April 8th. The stock was 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 in the company, valued at approximately $9,920,673.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Julie Lodge-Jarrett sold 9,139 shares of the business’s stock in a transaction on Tuesday, March 15th. The stock was 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 company stock worth $20,211,002 over the last quarter. Company insiders own 30.09% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Navellier & Associates Inc. grew its stake in DICK’S Sporting Goods by 567.0% during the 1st quarter. Navellier & Associates Inc. now owns 39,849 shares of the sporting goods retailer’s stock worth $3,986,000 after buying an additional 33,875 shares during the last quarter. Foster & Motley Inc. grew its stake in DICK’S Sporting Goods by 13.0% during the 1st quarter. Foster & Motley Inc. now owns 52,006 shares of the sporting goods retailer’s stock valued at $5,202,000 after purchasing an additional 5,978 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in DICK’S Sporting Goods during the 1st quarter valued at about $51,000. Comerica Bank grew its stake in DICK’S Sporting Goods by 1.4% during the 1st quarter. Comerica Bank now owns 46,232 shares of the sporting goods retailer’s stock valued at $4,970,000 after purchasing an additional 630 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in DICK’S Sporting Goods during the 1st quarter valued at about $62,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

DICK’S Sporting Goods Company Profile (Get Rating)

DICK’S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.

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