The stock of DICK’S Sporting Goods, Inc. (NYSE:DKS) is now priced at $53.16 and the shares are 0.16 points up or 0.3% higher compared to its previous closing price of $53. The stock had 2.836 million contracts set over the past session. DKS shares’ daily volume is compared to its average trading volume at 2.791 million shares. However, it has a float of 61.64 million and although its performance was 14.87% over the week, it’s one to watch. Analysts have given the DKS stock a yearly average price target of $60.22 per share. It means the stock’s upside potential is 13.28% with the DKS share price recently placing at $53.08 to $54.85. However, some brokerage firms have priced the stock below the average, including one that has called $53.
The shorts are running away from the DICK’S Sporting Goods, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the DKS shares have declined. Short interest in the stock represents just 24.44% of its float, but the volume has dropped by 0.
In the last trading session, DICK’S Sporting Goods, Inc. (NYSE:DKS) raised by $6.88 over the week and gained $7.54 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $57.2. The stock recorded its established 52-week high on 08/27/20.
Since 03/18/20, the stock has traded to a low of $13.46 at 294.95%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.72. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, DICK’S Sporting Goods, Inc.’s two-week RSI is 69.41. This suggests that the stock is neutral at the moment and that DKS shares’ price movement remains stable. The stochastic readings are equally revealing at 76.9% meaning the DKS share price is currently in oversold territory.
The technical chart shows that the DKS stock will likely settle at between $54.31 and $55.47 per share. However, if the stock dips below $52.54, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $51.93.
Currently, the stock is trading in the green of MACD, with a reading of 4.77. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Morgan Stanley raised their recommendation for DKS from Equal-Weight to Overweight in August 27 review while maintain their target price of $65. Telsey Advisory Group analysts see the stock as a Outperform, but they also raised the share’s target price from $56 to $65 in a flash note released to investors on August 27. Oppenheimer seeing the stock struggling downgraded it from Outperform to Perform on August 27.
The average rating for the DKS equity is 2.54 and is currently gathering a bullish momentum. Of 25 analysts tracking DICK’S Sporting Goods, Inc. polled by Reuters, 14 rated DKS as a hold. The remaining 11 analysts were split evenly. However, the split wasn’t equal as a majority (10) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the DKS stock price is 13.01X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 17.6 below the group’s average of 54.1. DICK’S Sporting Goods, Inc. has its P/E ratio at 2.5, which means that the stock is currently trading at a discount relative to the 7.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for DICK’S Sporting Goods, Inc. (NYSE:DKS) will decrease by about -21.12%, which will see them reach $2140 million. The company’s full-year revenues are, however, expected to increase by about 1.49%, up from $8750 million to $8880 million. DKS’s expected adjusted earnings should surge almost 30.77% to end up at $0.68 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -41.19% to record $2.17/share.