Wedbush Cuts Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $60.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price objective trimmed by Wedbush from $65.00 to $60.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts also recently commented on the stock. Morgan Stanley dropped their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday. UBS Group lowered their price objective on Academy Sports and Outdoors from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Robert W. Baird dropped their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial increased their price target on Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $60.00 target price on shares of Academy Sports and Outdoors in a research note on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.38.

Academy Sports and Outdoors Stock Performance

Shares of Academy Sports and Outdoors stock opened at $47.23 on Friday. The firm has a market capitalization of $3.28 billion, a P/E ratio of 7.76, a PEG ratio of 1.02 and a beta of 1.25. The company has a quick ratio of 0.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors has a 52 week low of $43.16 and a 52 week high of $68.96. The company has a 50 day moving average price of $51.09 and a 200 day moving average price of $53.15.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings results on Thursday, March 20th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.14. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the business earned $2.21 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. Sell-side analysts expect that Academy Sports and Outdoors will post 5.59 EPS for the current year.

Academy Sports and Outdoors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, March 25th. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. Academy Sports and Outdoors’s payout ratio is currently 8.54%.

Institutional Investors Weigh In On Academy Sports and Outdoors

A number of hedge funds have recently modified their holdings of ASO. TD Private Client Wealth LLC purchased a new stake in Academy Sports and Outdoors in the third quarter valued at $40,000. AlphaQuest LLC grew its holdings in shares of Academy Sports and Outdoors by 240.8% in the fourth quarter. AlphaQuest LLC now owns 702 shares of the company’s stock valued at $40,000 after purchasing an additional 496 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Academy Sports and Outdoors by 1,307.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 985 shares of the company’s stock worth $57,000 after acquiring an additional 915 shares during the period. LGT Financial Advisors LLC increased its holdings in Academy Sports and Outdoors by 1,041.7% during the 4th quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company’s stock worth $63,000 after purchasing an additional 1,000 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Academy Sports and Outdoors by 242.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,190 shares of the company’s stock valued at $69,000 after acquiring an additional 843 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.