Dick’s Sporting Goods Given New $59.00 Price Target at JPMorgan Chase (DKS)
“We believe that DKS is making appropriate investments that drive sales, margins, and returns over the longer term. … While the apathetic (and the opportunistic bears) might say that there is no reason to run out to buy the stock given the tough compare in 1Q, the new guidance sets a prudent bar and the stock is trading at 15.8x the midpoint of 2013 guidance. Since the March 2009 low, DKS trough FY1 valuation is 16.5x, which occurred in August 2010 (i.e., Europe contagion fear time period). With comparisons easing 460 bps into 2Q due to the weather a year ago, and considering the over-reaction yesterday, we expect any upward movement in the stock to be met with buying.,” JPMorgan Chase’s analyst wrote.
DKS has been the subject of a number of other recent research reports. Analysts at Needham & Company reiterated a buy rating on shares of Dick’s Sporting Goods in a research note to investors on Tuesday. Separately, analysts at Northland Capital cut their price target on shares of Dick’s Sporting Goods from $62.00 to $57.00 in a research note to investors on Tuesday. They now have an outperform rating on the stock. Finally, analysts at BMO Capital Markets upgraded shares of Dick’s Sporting Goods from a market perform rating to an outperform rating in a research note to investors on Tuesday. They now have a $57.00 price target on the stock.
Twenty-one research analysts have rated the stock with a buy rating, one has given an overweight rating, and six have assigned a hold rating to the company. The company has a consensus rating of buy and a consensus price target of $57.29.
Shares of Dick’s Sporting Goods opened at 47.18 on Tuesday. Dick’s Sporting Goods has a one year low of $44.06 and a one year high of $54.24. The stock’s 50-day moving average is currently $48.72. The company has a market cap of $5.787 billion and a P/E ratio of 21.85.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 29th. Stockholders of record on Friday, March 8th will be given a dividend of $0.13 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, March 6th.
Dick’s Sporting Goods, Inc. (Dick’s) is a sporting goods retailer offering an assortment of brand name sporting goods equipment, apparel and footwear.
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