Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Sees Large Decline in Short Interest

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 5,540,000 shares, a decline of 9.6% from the August 31st total of 6,130,000 shares. Based on an average trading volume of 1,550,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 8.0% of the company’s shares are short sold.

Academy Sports and Outdoors Trading Down 0.6 %

NASDAQ:ASO traded down $0.33 during mid-day trading on Friday, reaching $59.19. 991,698 shares of the company’s stock traded hands, compared to its average volume of 1,473,612. Academy Sports and Outdoors has a 12-month low of $42.83 and a 12-month high of $75.73. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 1.16 and a beta of 1.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 0.41. The company has a 50 day moving average price of $54.88 and a 200-day moving average price of $56.76.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly 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 company 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 EPS. Academy Sports and Outdoors’s revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Academy Sports and Outdoors will post 6.03 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, September 19th. This represents a $0.44 annualized dividend and a yield of 0.74%. Academy Sports and Outdoors’s payout ratio is 6.73%.

Analyst Ratings Changes

ASO has been the topic of a number of research reports. TD Cowen raised their price target on Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Jefferies Financial Group lowered their price target on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Bank of America downgraded Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $75.00 to $63.00 in a report on Tuesday, June 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Finally, Evercore ISI lifted their price objective on Academy Sports and Outdoors from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Academy Sports and Outdoors has an average rating of “Moderate Buy” and a consensus price target of $62.86.

Insiders Place Their Bets

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value of $74,400.00. Following the sale, the director now directly owns 8,906 shares of the company’s stock, valued at approximately $552,172. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total transaction of $74,400.00. Following the completion of the sale, the director now directly owns 8,906 shares of the company’s stock, valued at approximately $552,172. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly owns 10,106 shares of the company’s stock, valued at $548,250.50. The disclosure for this sale can be found here. Insiders own 2.19% of the company’s stock.

Institutional Trading of Academy Sports and Outdoors

Several large investors have recently bought and sold shares of ASO. Jones Financial Companies Lllp bought a new stake in Academy Sports and Outdoors during the 4th quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in Academy Sports and Outdoors during the 1st quarter valued at approximately $35,000. Future Financial Wealth Managment LLC bought a new stake in Academy Sports and Outdoors during the 1st quarter valued at approximately $68,000. Kapitalo Investimentos Ltda bought a new stake in Academy Sports and Outdoors during the 4th quarter valued at approximately $73,000. Finally, Your Advocates Ltd. LLP boosted its position in Academy Sports and Outdoors by 117.3% during the 2nd quarter. Your Advocates Ltd. LLP now owns 1,706 shares of the company’s stock valued at $91,000 after acquiring an additional 921 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.