Wells Fargo & Company Increases Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $51.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target upped by equities research analysts at Wells Fargo & Company from $46.00 to $51.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 8.77% from the company’s current price.

ASO has been the topic of a number of other reports. Loop Capital reissued a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday. JPMorgan Chase & Co. lowered shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $76.00 to $53.00 in a report on Monday, August 5th. UBS Group lowered shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and reduced their target price for the company from $81.00 to $58.00 in a report on Wednesday, June 12th. TD Cowen boosted their price target on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Wedbush restated an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a report on Wednesday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.86.

Academy Sports and Outdoors Price Performance

ASO stock opened at $55.90 on Wednesday. The firm has a 50 day simple moving average of $53.46 and a two-hundred day simple moving average of $57.76. The stock has a market cap of $4.03 billion, a PE ratio of 8.55, a P/E/G ratio of 0.92 and a beta of 1.34. Academy Sports and Outdoors has a one year low of $42.83 and a one year high of $75.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.41.

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

Insider Activity

In related news, Director Jeffrey C. Tweedy sold 625 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total value of $33,906.25. Following the completion of the transaction, the director now directly owns 10,106 shares in the company, valued at approximately $548,250.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of 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 purchasing an additional 250 shares during the last quarter. Trust Investment Advisors raised its holdings in Academy Sports and Outdoors by 1.8% in the second quarter. Trust Investment Advisors now owns 15,030 shares of the company’s stock worth $800,000 after buying an additional 266 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Academy Sports and Outdoors by 3.6% in the second quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock worth $409,000 after buying an additional 269 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Academy Sports and Outdoors by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,410 shares of the company’s stock valued at $1,875,000 after buying an additional 276 shares during the last quarter. Finally, Moody National Bank Trust Division increased its position in shares of Academy Sports and Outdoors by 2.1% during the first quarter. Moody National Bank Trust Division now owns 13,487 shares of the company’s stock valued at $911,000 after acquiring an additional 276 shares in the last quarter.

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.