Academy Sports and Outdoors (NASDAQ:ASO) Price Target Lowered to $55.00 at Morgan Stanley

Academy Sports and Outdoors (NASDAQ:ASO) had its price objective cut by research analysts at Morgan Stanley from $60.00 to $55.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 15.98% from the stock’s current price.

ASO has been the topic of a number of other reports. Truist Financial raised their price target on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird decreased their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday. UBS Group decreased their price target on shares of Academy Sports and Outdoors from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday. TD Cowen lifted their price objective on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Finally, Citigroup cut their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $60.47.

Academy Sports and Outdoors Price Performance

ASO stock opened at $47.42 on Friday. The company has a quick ratio of 0.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors has a 12 month low of $43.16 and a 12 month high of $68.96. The firm has a market cap of $3.29 billion, a P/E ratio of 7.79, a P/E/G ratio of 1.02 and a beta of 1.25. The company’s 50-day moving average price is $51.30 and its two-hundred day moving average price is $53.22.

Academy Sports and Outdoors (NASDAQ:ASO) last released its earnings results on Thursday, March 20th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.82 by $0.14. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm earned $2.21 EPS. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, analysts anticipate that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Academy Sports and Outdoors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in Academy Sports and Outdoors by 15.3% in the third quarter. FMR LLC now owns 10,739,463 shares of the company’s stock valued at $626,755,000 after buying an additional 1,422,971 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Academy Sports and Outdoors by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,699,015 shares of the company’s stock worth $212,807,000 after purchasing an additional 404,863 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Academy Sports and Outdoors by 8.1% in the fourth quarter. Pacer Advisors Inc. now owns 2,649,276 shares of the company’s stock worth $152,413,000 after purchasing an additional 197,384 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Academy Sports and Outdoors by 2.6% in the third quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company’s stock worth $118,092,000 after purchasing an additional 50,715 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Academy Sports and Outdoors by 14.2% in the fourth quarter. LSV Asset Management now owns 1,940,041 shares of the company’s stock worth $111,611,000 after purchasing an additional 241,100 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.