Dick's Sporting Goods Inc (NYSE:DKS) stock is down 1% to trade at $221.27 today, shrugging off an upgrade from Citi to "buy" from "neutral" this morning. The bull note comes following the sports retailer's completed acquisition of Foot Locker (FL) in a $2.4 billion deal. The analyst in coverage said the subsequent buying power will create a "category killer," and lifted its price target to $280.
Looking at analyst ratings (not yet updated with today's adjustments), 15 of the 26 analysts in coverage rate the stock a "hold," and 11 a "buy" or better, leaving plenty of room for further upgrades. Plus, the 12-month consensus price target of $233.96 is a slim 4% premium to current levels.
On the charts, DKS has been mostly climbing since bouncing off the 260-day moving average at the start of this month, now headed for its fourth gain in the last five sessions. The shares are still down 2% in 2025, though up 8% in the last 12 months.
Shorts have been slowly building their positions, with short interest now representing 9.4% of the stock's available float. It would take over three days for traders to buy back their borrowed shares, at DKS' average pace of trading.
Options are affordably priced at the moment, too, per our Schaeffer’s Volatility Index (SVI) of 32% that sits in the low 4th percentile of its annual range. A premium-selling strategy could be the move going forward, as DKS' Schaeffer's Volatility Scorecard (SVS) checks in at a 14 out of 100. This means the security has consistently realized lower volatility than its options have priced in.
