Shares of Dick’s Sporting Goods Inc (NYSE:DKS) rallied in early trading on Wednesday, after taking during the premarket session on the company’s downbeat second-quarter results.
Here are some key analyst takeaways:
- BTIG analyst Robert Drbul maintained a Buy rating, while slashing the price target from $300 to $180.
- DA Davidson analyst Michael Baker reiterated a Buy rating, while cutting the price target from $260 to $205.
Check out other analyst stock ratings.
BTIG: Dick’s reported adjusted earnings of $3.53 per share. The retailer missed BTIG’s estimate of $3.69 per share, with a weak Foot Locker performance weighing on the results. While the core Dick’s comps of 4.9% came in-line with expectations, Foot Locker’s comps declined 3.6% versus BTIG’s estimate of flat, Drbul said in a note.
Foot Locker North America’s performance deteriorated as the quarter progressed, with consumers migrating toward “newer brands and silhouettes.” Simply put: There’s less demand for legacy footwear franchises, the analyst explained.
Drbul expects the pressure at Foot Locker to continue through the year.
Drbul lowered the 2026 Foot Locker comps to a 2% decline, from the earlier estimate of 2% growth. “We are also taking down our 2H26 comp estimates for the Dick’s brand, but expect full year growth of 3.2%,” he further wrote.
DA Davidson: Dick’s delivered “a big miss” that came at just “the wrong time,” Baker said.
After closing the Foot Locker deal last September, the company had highlighted the 2026 back-to-school season to reflect “their ability to turn that business,” the analyst noted. While some progress has been made, “the guide down during that crucial proof point season hurts confidence that DKS can deliver on the Foot Locker promise,” he wrote.
Dick’s blamed the second-quarter miss on disappointing trends in legacy silhouettes within the footwear marketplace, Baker stated. While Foot Locker North America did not perform well, the company faced “even greater” issues in EMEA (Europe, the Middle East, and Africa), he added.
DKS Price Action: Shares of Dick’s Sporting Goods had risen by 3.58% to $128.76 at the time of publication on Wednesday.
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