Academy Sports and Outdoors (NASDAQ:ASO) Price Target Cut to $58.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target lowered by TD Cowen from $82.00 to $58.00 in a research report report published on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other research firms also recently weighed in on ASO. Evercore ISI dropped their price target on shares of Academy Sports and Outdoors from $75.00 to $70.00 and set an outperform rating for the company in a research report on Tuesday, April 16th. Truist Financial cut their target price on Academy Sports and Outdoors from $75.00 to $73.00 and set a buy rating for the company in a research report on Monday. Morgan Stanley decreased their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an equal weight rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Academy Sports and Outdoors from $55.00 to $87.00 and gave the stock an overweight rating in a research report on Wednesday, March 20th. Finally, Robert W. Baird raised their target price on shares of Academy Sports and Outdoors from $70.00 to $80.00 and gave the company an outperform rating in a report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $66.27.

Academy Sports and Outdoors Stock Performance

Shares of NASDAQ ASO opened at $52.89 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.87 and a quick ratio of 0.51. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 7.87, a P/E/G ratio of 0.81 and a beta of 1.37. The stock’s fifty day moving average price is $57.06 and its two-hundred day moving average price is $62.14. Academy Sports and Outdoors has a one year low of $42.83 and a one year high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.11). Academy Sports and Outdoors had a net margin of 8.43% and a return on equity of 28.99%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company posted $1.19 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Academy Sports and Outdoors will post 6.68 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, June 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.83%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.55%.

Insider Activity at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was 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 of the company’s stock, valued at approximately $472,200. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Trust Investment Advisors increased its position in Academy Sports and Outdoors by 1.2% in the 4th quarter. Trust Investment Advisors now owns 14,792 shares of the company’s stock valued at $976,000 after acquiring an additional 172 shares during the period. Meritage Portfolio Management increased its holdings in Academy Sports and Outdoors by 2.1% in the fourth quarter. Meritage Portfolio Management now owns 8,337 shares of the company’s stock valued at $550,000 after purchasing an additional 174 shares during the period. SkyView Investment Advisors LLC raised its position in Academy Sports and Outdoors by 14.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,975 shares of the company’s stock worth $93,000 after purchasing an additional 245 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Academy Sports and Outdoors by 3.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock worth $548,000 after buying an additional 250 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in shares of Academy Sports and Outdoors by 4.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,980 shares of the company’s stock valued at $395,000 after buying an additional 265 shares during 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.