Academy Sports and Outdoors (NASDAQ:ASO) PT Raised to $63.00 at Truist Financial

Academy Sports and Outdoors (NASDAQ:ASO) had its price objective increased by Truist Financial from $60.00 to $63.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the company. UBS Group downgraded Academy Sports and Outdoors from a buy rating to a neutral rating and reduced their target price for the stock from $81.00 to $58.00 in a report on Wednesday, June 12th. Bank of America lowered Academy Sports and Outdoors from a buy rating to a neutral rating and lowered their price objective for the company from $75.00 to $63.00 in a research report on Tuesday, June 11th. Robert W. Baird reduced their target price on shares of Academy Sports and Outdoors from $80.00 to $68.00 and set an outperform rating on the stock in a research report on Wednesday, June 12th. TD Cowen lowered shares of Academy Sports and Outdoors from a buy rating to a hold rating and dropped their price objective for the stock from $58.00 to $54.00 in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. downgraded Academy Sports and Outdoors from an overweight rating to a neutral rating and dropped their target price for the stock from $76.00 to $53.00 in a report on Monday, August 5th. Six 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, Academy Sports and Outdoors currently has a consensus rating of Moderate Buy and a consensus target price of $62.86.

Academy Sports and Outdoors Stock Performance

Academy Sports and Outdoors stock opened at $59.01 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. The firm has a market cap of $4.26 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.94 and a beta of 1.34. Academy Sports and Outdoors has a 1-year low of $42.83 and a 1-year high of $75.73. The firm has a 50-day moving average of $53.61 and a 200-day moving average of $57.57.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm posted $2.01 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. Sell-side analysts expect that Academy Sports and Outdoors will post 6.25 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, September 19th. Academy Sports and Outdoors’s payout ratio is 6.73%.

Insider Activity at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 625 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total value of $33,906.25. Following the completion of the transaction, the director now owns 10,106 shares of the company’s stock, valued at approximately $548,250.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new position in shares of Academy Sports and Outdoors in the fourth quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in Academy Sports and Outdoors in the first quarter worth $35,000. Future Financial Wealth Managment LLC bought a new stake in shares of Academy Sports and Outdoors during the first quarter valued at approximately $68,000. EverSource Wealth Advisors LLC raised its holdings in shares of Academy Sports and Outdoors by 517.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,050 shares of the company’s stock valued at $69,000 after acquiring an additional 880 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Academy Sports and Outdoors in the 4th quarter worth approximately $73,000.

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.