Truist Financial Raises Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $63.00

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

A number of other research analysts have also weighed in on the company. Wedbush reissued an outperform rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday. Telsey Advisory Group reiterated an outperform rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a research report on Thursday, September 5th. Morgan Stanley reduced their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an equal weight rating for the company in a research report on Wednesday, June 12th. Evercore ISI upped their price objective on shares of Academy Sports and Outdoors from $60.00 to $70.00 and gave the company an outperform rating in a report on Thursday, June 20th. Finally, 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 for the company in a report on Wednesday, June 12th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $62.86.

Academy Sports and Outdoors Stock Down 1.2 %

ASO stock opened at $54.71 on Wednesday. The stock has a market capitalization of $3.95 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 0.92 and a beta of 1.34. Academy Sports and Outdoors has a 52 week low of $42.83 and a 52 week high of $75.73. The company has a quick ratio of 0.41, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $53.36 and a 200 day moving average of $57.77.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.96 by $0.07. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 earnings per share. Sell-side analysts forecast that Academy Sports and Outdoors will post 6.25 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently announced 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 0.80%. The ex-dividend date is Thursday, September 19th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.73%.

Insider Activity at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total transaction of $33,906.25. Following the transaction, the director now owns 10,106 shares in the company, valued at $548,250.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 business. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Academy Sports and Outdoors by 3.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock worth $548,000 after acquiring an additional 250 shares in the last quarter. Trust Investment Advisors grew its position in shares of Academy Sports and Outdoors by 1.8% in the second quarter. Trust Investment Advisors now owns 15,030 shares of the company’s stock valued at $800,000 after purchasing an additional 266 shares during the period. Great Valley Advisor Group Inc. increased its stake in shares of Academy Sports and Outdoors by 3.6% during the second quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock worth $409,000 after purchasing an additional 269 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Academy Sports and Outdoors by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,410 shares of the company’s stock worth $1,875,000 after purchasing an additional 276 shares during the last quarter. Finally, Moody National Bank Trust Division lifted its stake in Academy Sports and Outdoors by 2.1% in the 1st quarter. Moody National Bank Trust Division now owns 13,487 shares of the company’s stock valued at $911,000 after buying an additional 276 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.