Morgan Stanley Cuts Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $60.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target reduced by Morgan Stanley from $65.00 to $60.00 in a research report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also issued reports about the stock. Wells Fargo & Company decreased their target price on shares of Academy Sports and Outdoors from $83.00 to $80.00 and set an overweight rating on the stock in a research note on Thursday, April 25th. B. Riley reaffirmed a buy rating and set a $72.00 price target (up previously from $65.00) on shares of Academy Sports and Outdoors in a research report on Monday, March 25th. UBS Group lowered shares of Academy Sports and Outdoors from a buy rating to a neutral rating and reduced their price target for the company from $81.00 to $58.00 in a research report on Wednesday. Truist Financial reduced their price target on shares of Academy Sports and Outdoors from $75.00 to $73.00 and set a buy rating on the stock in a research report on Monday, June 10th. Finally, Evercore ISI reduced their price target on shares of Academy Sports and Outdoors from $75.00 to $70.00 and set an outperform rating on the stock in a research report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Academy Sports and Outdoors presently has an average rating of Moderate Buy and a consensus price target of $66.27.

Academy Sports and Outdoors Trading Up 0.8 %

ASO opened at $51.79 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.51. The company’s 50 day simple moving average is $56.60 and its two-hundred day simple moving average is $62.08. Academy Sports and Outdoors has a 1-year low of $42.83 and a 1-year high of $75.73. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth ratio of 0.86 and a beta of 1.37.

Academy Sports and Outdoors (NASDAQ:ASO) last released its earnings results on Tuesday, June 11th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business earned $1.19 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts expect that Academy Sports and Outdoors will post 6.61 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th will be paid a $0.11 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.85%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is 6.73%.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total value of $72,000.00. Following the completion of the transaction, the director now owns 7,870 shares in the company, valued at $472,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several institutional investors have recently modified their holdings of the business. Trust Investment Advisors grew its stake in shares of Academy Sports and Outdoors by 1.2% in the fourth quarter. Trust Investment Advisors now owns 14,792 shares of the company’s stock worth $976,000 after acquiring an additional 172 shares in the last quarter. Meritage Portfolio Management grew its stake in shares of Academy Sports and Outdoors by 2.1% during the fourth quarter. Meritage Portfolio Management now owns 8,337 shares of the company’s stock worth $550,000 after purchasing an additional 174 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Academy Sports and Outdoors by 14.2% during the third quarter. SkyView Investment Advisors LLC now owns 1,975 shares of the company’s stock worth $93,000 after purchasing an additional 245 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Academy Sports and Outdoors by 3.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock worth $548,000 after purchasing an additional 250 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Academy Sports and Outdoors by 4.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,980 shares of the company’s stock worth $395,000 after purchasing an additional 265 shares in 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.