Academy Sports and Outdoors (NASDAQ:ASO) Price Target Cut to $65.00

Academy Sports and Outdoors (NASDAQ:ASO) had its target price reduced by Wedbush from $80.00 to $65.00 in a research note issued to investors on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other equities analysts have also commented on the company. Telsey Advisory Group reissued an outperform rating and issued a $75.00 target price on shares of Academy Sports and Outdoors in a report on Tuesday. TD Cowen dropped their price objective on Academy Sports and Outdoors from $82.00 to $58.00 and set a buy rating on the stock in a report on Wednesday. UBS Group cut Academy Sports and Outdoors from a buy rating to a neutral rating and decreased their target price for the stock from $81.00 to $58.00 in a research note on Wednesday. Evercore ISI dropped their price target on shares of Academy Sports and Outdoors from $70.00 to $60.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, Bank of America downgraded shares of Academy Sports and Outdoors from a buy rating to a neutral rating and reduced their price objective for the stock from $75.00 to $63.00 in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $66.27.

Academy Sports and Outdoors Price Performance

ASO stock opened at $52.89 on Wednesday. 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 $3.90 billion, a P/E ratio of 7.87, a P/E/G ratio of 0.81 and a beta of 1.37. 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 business’s 50-day moving average is $57.06 and its two-hundred day moving average is $62.14.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). Academy Sports and Outdoors had a return on equity of 28.99% and a net margin of 8.43%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. Analysts anticipate that Academy Sports and Outdoors will post 6.68 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The business also recently announced 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 of this dividend 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 currently 6.55%.

Insider Activity

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

Hedge Funds Weigh In On Academy Sports and Outdoors

Large investors have recently modified their holdings of the business. Trust Investment Advisors grew its holdings in Academy Sports and Outdoors by 1.2% during 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 during the period. Meritage Portfolio Management grew its stake in shares of Academy Sports and Outdoors by 2.1% during the 4th quarter. Meritage Portfolio Management now owns 8,337 shares of the company’s stock worth $550,000 after purchasing an additional 174 shares during the period. SkyView Investment Advisors LLC increased its holdings in shares of Academy Sports and Outdoors by 14.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,975 shares of the company’s stock valued at $93,000 after purchasing an additional 245 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Academy Sports and Outdoors by 3.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock valued at $548,000 after purchasing an additional 250 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in 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 buying an additional 265 shares during the period.

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.