Academy Sports and Outdoors (NASDAQ:ASO) Shares Down 7.5% – Time to Sell?

Academy Sports and Outdoors, Inc. (NASDAQ:ASO)’s share price fell 7.5% during trading on Tuesday . The company traded as low as $46.87 and last traded at $46.76. 808,278 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 1,490,997 shares. The stock had previously closed at $50.56.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Telsey Advisory Group lowered their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Citigroup started coverage on shares of Academy Sports and Outdoors in a report on Wednesday, December 18th. They issued a “buy” rating and a $65.00 price target on the stock. Robert W. Baird dropped their target price on shares of Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, December 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, December 11th. Finally, TD Cowen upped their target price on Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.67.

Academy Sports and Outdoors Price Performance

The firm has a market cap of $3.04 billion, a P/E ratio of 7.20, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 0.32. The firm’s 50 day moving average is $52.41 and its 200 day moving average is $53.52.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.30). Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.19%. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 25th. Academy Sports and Outdoors’s payout ratio is 7.22%.

Institutional Trading of Academy Sports and Outdoors

Several institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in Academy Sports and Outdoors by 98.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock worth $43,000 after buying an additional 366 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of Academy Sports and Outdoors during the third quarter valued at approximately $205,000. State of New Jersey Common Pension Fund D lifted its position in Academy Sports and Outdoors by 6.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 35,908 shares of the company’s stock valued at $2,096,000 after purchasing an additional 2,189 shares during the period. Victory Capital Management Inc. boosted its holdings in Academy Sports and Outdoors by 15.3% in the third quarter. Victory Capital Management Inc. now owns 51,988 shares of the company’s stock worth $3,034,000 after purchasing an additional 6,894 shares during the last quarter. Finally, Simmons Bank raised its stake in Academy Sports and Outdoors by 1.9% during the 3rd quarter. Simmons Bank now owns 10,860 shares of the company’s stock valued at $634,000 after buying an additional 200 shares during the last quarter.

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.