Cambridge Investment Research Advisors Inc. Increases Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Cambridge Investment Research Advisors Inc. boosted its position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 5.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 29,854 shares of the company’s stock after acquiring an additional 1,669 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Academy Sports and Outdoors were worth $1,590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Academy Sports and Outdoors by 3.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock valued at $548,000 after purchasing an additional 250 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in Academy Sports and Outdoors by 4.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,980 shares of the company’s stock valued at $395,000 after purchasing an additional 265 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in Academy Sports and Outdoors by 3.6% in the second quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock worth $409,000 after acquiring an additional 269 shares during the period. Janney Montgomery Scott LLC increased its stake in Academy Sports and Outdoors by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,410 shares of the company’s stock worth $1,875,000 after acquiring an additional 276 shares during the last quarter. Finally, Moody National Bank Trust Division raised its position in Academy Sports and Outdoors by 2.1% in the first quarter. Moody National Bank Trust Division now owns 13,487 shares of the company’s stock valued at $911,000 after purchasing an additional 276 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ASO. UBS Group cut shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $81.00 to $58.00 in a research report on Wednesday, June 12th. Evercore ISI upped their target price on shares of Academy Sports and Outdoors from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Morgan Stanley cut their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 12th. Wells Fargo & Company dropped their price objective on Academy Sports and Outdoors from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. Finally, Bank of America cut Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $75.00 to $63.00 in a research note on Tuesday, June 11th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Insider Buying and Selling at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 625 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total transaction of $33,906.25. Following the completion of the sale, the director now owns 10,106 shares in the company, valued at $548,250.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.19% of the company’s stock.

Academy Sports and Outdoors Stock Performance

Shares of Academy Sports and Outdoors stock opened at $54.76 on Wednesday. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 0.95 and a beta of 1.34. The firm’s fifty day simple moving average is $53.12 and its 200-day simple moving average is $58.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.41. Academy Sports and Outdoors, Inc. has a 12 month low of $42.83 and a 12 month high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the company posted $1.19 earnings per share. Academy Sports and Outdoors’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities analysts forecast that Academy Sports and Outdoors, Inc. will post 6.25 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.80%. Academy Sports and Outdoors’s payout ratio is 6.73%.

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.