Short Interest in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Drops By 15.1%

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 6,130,000 shares, a decrease of 15.1% from the August 15th total of 7,220,000 shares. Approximately 8.6% of the company’s stock are short sold. Based on an average daily volume of 1,790,000 shares, the short-interest ratio is presently 3.4 days.

Academy Sports and Outdoors Price Performance

ASO stock traded up $1.39 during midday trading on Wednesday, reaching $62.44. 847,058 shares of the company’s stock traded hands, compared to its average volume of 1,471,549. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.94 and a beta of 1.34. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The company has a 50-day simple moving average of $53.91 and a two-hundred day simple moving average of $57.25. Academy Sports and Outdoors has a 1-year low of $42.83 and a 1-year high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last released its earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the business earned $2.01 earnings per share. Academy Sports and Outdoors’s quarterly revenue was down 2.2% on a year-over-year basis. On average, analysts anticipate that Academy Sports and Outdoors will post 6.25 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.44 dividend on an annualized basis and a yield of 0.70%. Academy Sports and Outdoors’s payout ratio is currently 6.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Academy Sports and Outdoors from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Evercore ISI increased their target price on shares of Academy Sports and Outdoors from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Wells Fargo & Company increased their price target on shares of Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. lowered shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $76.00 to $53.00 in a research report on Monday, August 5th. Finally, Bank of America downgraded shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and cut their price target for the stock from $75.00 to $63.00 in a report on Tuesday, June 11th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.86.

Insiders Place Their Bets

In other news, Director Jeffrey C. Tweedy sold 625 shares of the 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 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 through this link. 2.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. purchased a new stake in shares of Academy Sports and Outdoors during the second quarter valued at approximately $174,054,000. Norges Bank bought a new position in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $47,768,000. Point72 Asset Management L.P. grew its position in Academy Sports and Outdoors by 36.6% during the 4th quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock worth $137,878,000 after purchasing an additional 559,414 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Academy Sports and Outdoors by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,969,886 shares of the company’s stock valued at $158,147,000 after purchasing an additional 481,640 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Academy Sports and Outdoors by 953.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 403,467 shares of the company’s stock valued at $26,629,000 after buying an additional 365,168 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.