Loop Capital Reiterates Buy Rating for Academy Sports and Outdoors (NASDAQ:ASO)

Academy Sports and Outdoors (NASDAQ:ASO)‘s stock had its “buy” rating reissued by analysts at Loop Capital in a research note issued on Wednesday, Benzinga reports. They presently have a $77.00 target price on the stock. Loop Capital’s target price indicates a potential upside of 37.75% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Bank of America cut Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and dropped their price target for the company from $75.00 to $63.00 in a research report on Tuesday, June 11th. Robert W. Baird dropped their price target on Academy Sports and Outdoors from $80.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Morgan Stanley decreased their price objective 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 decreased 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 research note on Monday, August 12th. Finally, TD Cowen boosted their price objective on Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Academy Sports and Outdoors presently has a consensus rating of “Moderate Buy” and an average target price of $62.86.

Academy Sports and Outdoors Stock Up 2.2 %

ASO stock opened at $55.90 on Wednesday. The stock’s fifty day simple moving average is $53.46 and its two-hundred day simple moving average is $57.76. The company has a current ratio of 1.62, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors has a 1-year low of $42.83 and a 1-year high of $75.73. The stock has a market cap of $4.03 billion, a P/E ratio of 8.55, a P/E/G ratio of 0.92 and a beta of 1.34.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the firm earned $2.01 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. Analysts expect that Academy Sports and Outdoors will post 6.25 EPS for the current year.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total value of $33,906.25. Following the transaction, the director now directly owns 10,106 shares in the company, valued at approximately $548,250.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in shares of Academy Sports and Outdoors in the 2nd quarter worth about $174,054,000. Dimensional Fund Advisors LP boosted its holdings in shares of Academy Sports and Outdoors by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,969,886 shares of the company’s stock worth $158,147,000 after purchasing an additional 481,640 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Academy Sports and Outdoors by 36.6% in the 4th quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock worth $137,878,000 after purchasing an additional 559,414 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Academy Sports and Outdoors by 4.2% in the 2nd quarter. LSV Asset Management now owns 1,721,741 shares of the company’s stock worth $91,683,000 after purchasing an additional 69,700 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in shares of Academy Sports and Outdoors by 1.9% in the 2nd quarter. King Luther Capital Management Corp now owns 1,613,209 shares of the company’s stock worth $85,903,000 after purchasing an additional 29,912 shares in the last quarter.

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.