Academy Sports and Outdoors (NASDAQ:ASO) Price Target Raised to $51.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target upped by Truist Financial from $50.00 to $51.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other research firms have also weighed in on ASO. Loop Capital reaffirmed a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Wedbush reiterated an “outperform” rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Evercore ISI cut Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $65.00 to $60.00 in a report on Thursday, October 3rd. TD Cowen lifted their price target on Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $60.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.07.

Academy Sports and Outdoors Price Performance

Academy Sports and Outdoors stock opened at $54.31 on Wednesday. The business has a 50 day simple moving average of $51.41 and a 200 day simple moving average of $53.48. Academy Sports and Outdoors has a one year low of $44.73 and a one year high of $75.73. The company has a market capitalization of $3.77 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 0.41.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Tuesday, December 10th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.30). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.39 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.38 EPS. On average, sell-side analysts forecast that Academy Sports and Outdoors will post 5.92 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Wednesday, December 18th. Academy Sports and Outdoors’s dividend payout ratio is presently 7.22%.

Insider Buying and Selling at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value of $74,400.00. Following the sale, the director now directly owns 8,906 shares in the company, valued at $552,172. This trade represents a 11.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On Academy Sports and Outdoors

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new stake in Academy Sports and Outdoors during the 2nd quarter worth $174,054,000. FMR LLC increased its holdings in shares of Academy Sports and Outdoors by 15.3% in the third quarter. FMR LLC now owns 10,739,463 shares of the company’s stock worth $626,755,000 after acquiring an additional 1,422,971 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Academy Sports and Outdoors by 19.4% during the second 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 during the period. Royce & Associates LP lifted its holdings in shares of Academy Sports and Outdoors by 62.5% during the 3rd quarter. Royce & Associates LP now owns 951,256 shares of the company’s stock valued at $55,515,000 after purchasing an additional 365,929 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Academy Sports and Outdoors by 203.2% in the 3rd quarter. Verition Fund Management LLC now owns 514,017 shares of the company’s stock valued at $29,998,000 after purchasing an additional 344,466 shares during the period.

Academy Sports and Outdoors Company Profile

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.