Evercore ISI Boosts DICK’S Sporting Goods (NYSE:DKS) Price Target to $240.00

DICK’S Sporting Goods (NYSE:DKS) had its price target lifted by Evercore ISI from $200.00 to $240.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the sporting goods retailer’s stock.

Several other brokerages have also recently weighed in on DKS. Robert W. Baird boosted their price target on shares of DICK’S Sporting Goods from $145.00 to $185.00 and gave the stock a neutral rating in a research report on Thursday. Wells Fargo & Company increased their target price on shares of DICK’S Sporting Goods from $125.00 to $175.00 and gave the company an equal weight rating in a research note on Wednesday, March 6th. The Goldman Sachs Group increased their target price on shares of DICK’S Sporting Goods from $157.00 to $247.00 and gave the company a buy rating in a research note on Friday. Citigroup raised their price target on shares of DICK’S Sporting Goods from $112.00 to $120.00 and gave the stock a neutral rating in a research note on Wednesday, November 22nd. Finally, Morgan Stanley raised their price target on shares of DICK’S Sporting Goods from $160.00 to $235.00 and gave the stock an overweight rating in a research note on Friday. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, DICK’S Sporting Goods has a consensus rating of Hold and an average price target of $196.95.

DICK’S Sporting Goods Price Performance

DKS traded up $1.56 during trading hours on Friday, hitting $213.04. The company’s stock had a trading volume of 1,382,984 shares, compared to its average volume of 1,228,734. The business’s 50-day moving average price is $163.78 and its 200-day moving average price is $135.67. DICK’S Sporting Goods has a 12 month low of $100.98 and a 12 month high of $222.92. The stock has a market cap of $17.41 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 3.20 and a beta of 1.55. The company has a current ratio of 1.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.57.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Thursday, March 14th. The sporting goods retailer reported $3.85 earnings per share for the quarter, topping the consensus estimate of $3.35 by $0.50. DICK’S Sporting Goods had a net margin of 8.06% and a return on equity of 42.99%. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the business posted $2.93 earnings per share. DICK’S Sporting Goods’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that DICK’S Sporting Goods will post 13.07 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.07%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Wednesday, March 27th. DICK’S Sporting Goods’s dividend payout ratio is presently 32.84%.

Institutional Trading of DICK’S Sporting Goods

A number of institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at about $357,000. Teachers Retirement System of The State of Kentucky boosted its stake in DICK’S Sporting Goods by 87.0% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 118,192 shares of the sporting goods retailer’s stock worth $17,368,000 after purchasing an additional 55,000 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in DICK’S Sporting Goods by 340.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,740 shares of the sporting goods retailer’s stock worth $550,000 after purchasing an additional 2,891 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in DICK’S Sporting Goods by 17.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,135 shares of the sporting goods retailer’s stock worth $901,000 after purchasing an additional 915 shares in the last quarter. Finally, Venture Visionary Partners LLC boosted its stake in DICK’S Sporting Goods by 14.9% in the 4th quarter. Venture Visionary Partners LLC now owns 29,592 shares of the sporting goods retailer’s stock worth $4,349,000 after purchasing an additional 3,831 shares in the last quarter. 68.21% of the stock is currently owned by institutional investors.

About DICK’S Sporting Goods

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