Academy Sports and Outdoors (NASDAQ:ASO) Stock Price Down 16.7% – Should You Sell?

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) shares were down 16.7% during mid-day trading on Thursday . The stock traded as low as $40.35 and last traded at $39.68. Approximately 395,724 shares traded hands during trading, a decline of 75% from the average daily volume of 1,562,923 shares. The stock had previously closed at $47.63.

Wall Street Analysts Forecast Growth

ASO has been the subject of several recent research reports. Robert W. Baird lowered their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. boosted their price target on Academy Sports and Outdoors from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Evercore ISI dropped their price objective on shares of Academy Sports and Outdoors from $54.00 to $53.00 and set an “in-line” rating on the stock in a research note on Tuesday. B. Riley reduced their target price on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, TD Cowen lifted their price target on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.69.

Academy Sports and Outdoors Price Performance

The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 6.48, 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 quick ratio of 0.32 and a current ratio of 1.57. The company’s fifty day moving average price is $50.19 and its 200 day moving average price is $52.76.

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. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $2.21 earnings per share. Equities research analysts expect 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 declared 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. The ex-dividend date is Tuesday, March 25th. This represents a $0.52 annualized dividend and a dividend yield of 1.32%. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. Academy Sports and Outdoors’s dividend payout ratio is currently 9.01%.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several hedge funds have recently modified their holdings of ASO. TD Private Client Wealth LLC acquired a new stake in shares of Academy Sports and Outdoors in the third quarter worth $40,000. AlphaQuest LLC boosted its stake in Academy Sports and Outdoors by 240.8% during the 4th quarter. AlphaQuest LLC now owns 702 shares of the company’s stock valued at $40,000 after purchasing an additional 496 shares during the period. Parkside Financial Bank & Trust lifted its position in Academy Sports and Outdoors by 1,307.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 985 shares of the company’s stock worth $57,000 after purchasing an additional 915 shares during the period. LGT Financial Advisors LLC grew its position in Academy Sports and Outdoors by 1,041.7% in the fourth quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company’s stock valued at $63,000 after acquiring an additional 1,000 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Academy Sports and Outdoors by 242.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,190 shares of the company’s stock valued at $69,000 after purchasing an additional 843 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.