Academy Sports and Outdoors (NASDAQ:ASO) Price Target Cut to $60.00 by Analysts at Robert W. Baird

Academy Sports and Outdoors (NASDAQ:ASO) had its price target decreased by Robert W. Baird from $65.00 to $60.00 in a research report released on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other analysts have also commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, December 11th. TD Cowen upped their price objective on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Truist Financial upped their price objective 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. Telsey Advisory Group reissued an “outperform” rating and issued a $60.00 price target on shares of Academy Sports and Outdoors in a research report on Monday, March 17th. Finally, UBS Group reduced 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 report on Tuesday. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.38.

Academy Sports and Outdoors Stock Performance

NASDAQ:ASO opened at $47.23 on Friday. Academy Sports and Outdoors has a twelve month low of $43.16 and a twelve month high of $68.96. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $51.09 and a 200-day moving average of $53.16. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings data on Thursday, March 20th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was down 6.6% on a year-over-year basis. Analysts forecast that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, March 25th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.52 dividend on an annualized basis and a yield of 1.10%. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. Academy Sports and Outdoors’s dividend payout ratio is currently 8.54%.

Hedge Funds Weigh In On Academy Sports and Outdoors

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Academy Sports and Outdoors by 15.3% during the third quarter. FMR LLC now owns 10,739,463 shares of the company’s stock valued at $626,755,000 after purchasing an additional 1,422,971 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Academy Sports and Outdoors during the fourth quarter valued at approximately $52,402,000. Norges Bank acquired a new position in Academy Sports and Outdoors during the fourth quarter valued at approximately $47,436,000. Stephens Investment Management Group LLC grew its holdings in Academy Sports and Outdoors by 331.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 959,680 shares of the company’s stock valued at $55,210,000 after purchasing an additional 737,212 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in Academy Sports and Outdoors during the fourth quarter valued at approximately $42,320,000.

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.