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What Analysts Recommend for Dick’s Sporting Goods Stock

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Oct. 29 2019, Updated 10:59 p.m. ET

Ratings synopsis

The majority of the analysts who are providing recommendations on Dick’s Sporting Goods (DKS) have maintained a “hold” rating. As of January 3, 2018, of the 31 analysts covering the stock, 77% recommended a “hold,” 16% recommended a “buy,” and 7% recommended a “sell.”

Following its fiscal 3Q17 results, many analysts have revised their target price for Dick’s Sporting Goods. RBC slashed its price target to $24 from $26 while Cowen and Company reduced it to $26 from $28. J.P. Morgan upped its rating on Dick’s Sporting Goods to “buy” from “hold” with a new price target of $32.

On January 3, 2018, Wells Fargo revised its target price to $35 from $26 and upped the rating to “buy” from “hold.”

Dick’s Sporting Goods is a leading sporting goods retailer. However, a drastically altered retail landscape and the arrival of online retailers and subsequent price wars have resulted in subdued profitability for retailers.

Like all other conventional retailers, DKS is also investing in its online channel as well as leveraging stores to better meet customer demand. These initiatives could boost its long-term performance.

Currently, the analysts’ 12-month average target price for Dick’s Sporting Goods stock is $30.72, which reflects a 1.5% upside to the stock price on January 3, 2018.

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Peers’ ratings

Most of the analysts have recommended a “hold” rating on peers Foot Locker (FL), Finish Line (FINL), and Hibbett Sports (HIBB).

Of the 20 analysts covering Foot Locker, 50.0% provided a “hold” rating while for Finish Line, ~67.0% of the 15 analysts covering the stock have provided a “hold” rating. Plus, 71.0% of the analysts have provided a “hold” rating for Hibbett Sports.

Currently, the analysts’ target price for Foot Locker is $47.53, reflecting a 0.7% downside to the stock price on January 3, 2018. For Finish Line, the mean target price is $12.47, which indicates a 9.5% downside to the stock price as of January 3, 2018. For Hibbett Sports, the target price is $19.73, implying a 6.9% downside to the stock price on January 3, 2018.

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