Academy Sports and Outdoors (NASDAQ:ASO) Price Target Raised to $70.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price objective upped by Evercore ISI from $60.00 to $70.00 in a report released on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other analysts have also commented on the company. Morgan Stanley cut 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 note on Wednesday, June 12th. B. Riley reissued a buy rating and set a $72.00 price target (up from $65.00) on shares of Academy Sports and Outdoors in a research note on Monday, March 25th. Telsey Advisory Group reissued an outperform rating and set a $75.00 price target on shares of Academy Sports and Outdoors in a research note on Tuesday, June 11th. Truist Financial cut their price objective on Academy Sports and Outdoors from $75.00 to $73.00 and set a buy rating on the stock in a research note on Monday, June 10th. Finally, Bank of America lowered Academy Sports and Outdoors from a buy rating to a neutral rating and cut their price objective for the stock from $75.00 to $63.00 in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $66.93.

Academy Sports and Outdoors Stock Performance

NASDAQ:ASO opened at $54.34 on Thursday. The stock’s 50-day simple moving average is $56.19 and its 200 day simple moving average is $62.22. The firm has a market capitalization of $3.92 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 0.92 and a beta of 1.37. The company has a quick ratio of 0.41, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors has a twelve month low of $42.83 and a twelve month high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts anticipate that Academy Sports and Outdoors will post 6.4 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.81%. Academy Sports and Outdoors’s payout ratio is currently 6.73%.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction that occurred on 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 sale, the director now directly owns 7,870 shares in the company, valued at $472,200. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Academy Sports and Outdoors

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of Academy Sports and Outdoors by 52.3% during the fourth quarter. Victory Capital Management Inc. now owns 46,454 shares of the company’s stock valued at $3,066,000 after acquiring an additional 15,955 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of Academy Sports and Outdoors by 1,014.0% during the fourth quarter. Verition Fund Management LLC now owns 213,542 shares of the company’s stock valued at $14,094,000 after acquiring an additional 194,373 shares in the last quarter. Bryn Mawr Capital Management LLC bought a new stake in shares of Academy Sports and Outdoors during the fourth quarter valued at approximately $2,501,000. Goldman Sachs Group Inc. increased its holdings in shares of Academy Sports and Outdoors by 20.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,010,989 shares of the company’s stock valued at $66,725,000 after acquiring an additional 172,783 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Academy Sports and Outdoors by 23.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 370,715 shares of the company’s stock valued at $24,467,000 after acquiring an additional 70,438 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.