Last week, the Williams Trading team updated its view of Dick’s Sporting Goods Inc. (DKS). The new recommendation assumes that quotations will rise to around $100. DICK’S Sporting Goods (NYSE: DKS) shares are trading for around $80.58, meaning its value has passed its 52-week low by 461.92%. In intraday trading, DKS shares hit a high of $81.12 and a low of $76.66. In the past 52 weeks, the shares are up and down $80.32 and $14.34.
Having determined a target price of $100 for Dick’s Sporting Goods, Williams Trading indicates a buy recommendation. Experts believe the retailer’s growth drivers are a solid and diverse product range that helped it retain customers and attract new ones during a pandemic. The DICK’S Sporting Goods also demonstrated best-in-class omnichannel capabilities.
A short time ago, Dick’s Sporting Goods introduced a line of VRST menswear exclusive to their store. Besides its CALIA line, the VRST line is one of the DKS stock’s other exclusive brands and aims to expand sportswear’s very concept. Customers’ clothing preferences have significantly changed during the pandemic, leading to strong demand for sportswear and casual wear. Dick’s Sporting Goods has these lines in their stores at present, which keeps customers interested.
Despite last year’s decline in comparable sales this year, Dick’s Sporting Goods Inc. (DKS) plans to raise sales this year and bring them back into positive territory, although a slower start to the year is expected in the first and second quarters. Meanwhile, analysts at Williams Trading say the DKS forecast is conservative and believes it will surpass expectations.
Sporting goods retailer Dick’s Sporting Goods also carries sports equipment. The Dick’s Sporting Goods previously operated as an arms dealer. However, the Dick’s Sporting Goods company has been closing weapons departments for the past few quarters. So far, the assortment change has not significantly affected the revenue since the assortment of sportswear, footwear, and other goods are so diverse that it allows maintaining high sales.
Taking a look at the record, we will discuss many developments that may positively or negatively affect DKS. DKS’ stock increased by 6.53% in the past five days and by 10.11% over the last thirty days. In the previous quarter, the stock rose a total of 54.52%. Its output increased by 37.63% within the six-month closing period, while the annual output had gained 332.99%. From the start of the calendar year, the DKS stock’s performance has been positive by 43.36%.