Academy Sports and Outdoors (NASDAQ:ASO) Cut to “Hold” at Truist Financial

Academy Sports and Outdoors (NASDAQ:ASO) was downgraded by research analysts at Truist Financial from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat.com reports. They presently have a $50.00 price objective on the stock, down from their previous price objective of $63.00. Truist Financial’s price target would indicate a potential upside of 10.47% from the stock’s previous close.

A number of other research analysts have also recently issued reports on ASO. Morgan Stanley reiterated an “equal weight” rating and set a $60.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Jefferies Financial Group dropped their price target on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Wedbush restated an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a report on Thursday, September 5th. Finally, Evercore ISI downgraded Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $65.00 to $60.00 in a research note on Thursday, October 3rd. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Academy Sports and Outdoors presently has a consensus rating of “Hold” and a consensus price target of $61.57.

Academy Sports and Outdoors Stock Down 1.7 %

Shares of Academy Sports and Outdoors stock opened at $45.26 on Tuesday. The company’s fifty day simple moving average is $54.43 and its two-hundred day simple moving average is $54.06. Academy Sports and Outdoors has a 12-month low of $44.73 and a 12-month high of $75.73. The company has a current ratio of 1.66, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. The company has a market cap of $3.18 billion, a P/E ratio of 6.98, a PEG ratio of 0.92 and a beta of 1.37.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.07. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.01 earnings per share. Research analysts anticipate that Academy Sports and Outdoors will post 6.02 EPS for the current year.

Insider Activity at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the sale, the director now directly owns 8,906 shares in the company, valued at approximately $552,172. This represents a 11.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several large investors have recently added to or reduced their stakes in ASO. UniSuper Management Pty Ltd purchased a new position in shares of Academy Sports and Outdoors in the 1st quarter worth approximately $1,021,000. Russell Investments Group Ltd. raised its holdings in Academy Sports and Outdoors by 75.0% during the 1st quarter. Russell Investments Group Ltd. now owns 39,589 shares of the company’s stock valued at $2,674,000 after buying an additional 16,970 shares during the period. Public Sector Pension Investment Board boosted its stake in Academy Sports and Outdoors by 6.9% during the second quarter. Public Sector Pension Investment Board now owns 162,406 shares of the company’s stock worth $8,648,000 after buying an additional 10,416 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Academy Sports and Outdoors by 17.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 808,250 shares of the company’s stock valued at $43,040,000 after acquiring an additional 121,115 shares during the last quarter. Finally, Boston Partners purchased a new stake in shares of Academy Sports and Outdoors in the first quarter valued at $1,000,000.

About Academy Sports and Outdoors

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States. The company outdoor division comprises camping products, such as coolers and drinkware, and camping accessories and equipment,; fishing products, including marine equipment and fishing rods, reels, and baits and equipment; and hunting products, which includes firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, gun safes, optics, airguns, and hunting equipment.