Academy Sports and Outdoors (NASDAQ:ASO) Cut to “In-Line” at Evercore ISI

Academy Sports and Outdoors (NASDAQ:ASO) was downgraded by investment analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $60.00 price target on the stock, down from their prior price target of $65.00. Evercore ISI’s price objective would suggest a potential upside of 7.99% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Bank of America lowered shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $63.00 in a report on Tuesday, June 11th. UBS Group downgraded Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $81.00 to $58.00 in a research report on Wednesday, June 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Jefferies Financial Group lowered their price target on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Truist Financial boosted their price objective on shares of Academy Sports and Outdoors from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.50.

Academy Sports and Outdoors Stock Down 1.3 %

Shares of NASDAQ ASO opened at $55.56 on Thursday. Academy Sports and Outdoors has a 52-week low of $42.83 and a 52-week high of $75.73. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 1.16 and a beta of 1.34. The stock has a 50 day moving average price of $55.00 and a 200 day moving average price of $56.47. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share 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 analysts’ expectations of $1.57 billion. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 EPS. Sell-side analysts expect that Academy Sports and Outdoors will post 6.03 earnings per share for the current year.

Insider Transactions at Academy Sports and Outdoors

In other 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 transaction of $33,906.25. Following the sale, the director now directly owns 10,106 shares of the company’s stock, valued at approximately $548,250.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Academy Sports and Outdoors 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 transaction of $74,400.00. Following the completion of the transaction, the director now directly owns 8,906 shares in the company, valued at $552,172. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey C. Tweedy sold 625 shares of Academy Sports and Outdoors stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total transaction of $33,906.25. Following the completion of the sale, the director now owns 10,106 shares in the company, valued at approximately $548,250.50. The disclosure for this sale can be found here. Company insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ASO. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Academy Sports and Outdoors during the 2nd quarter worth approximately $130,000. Sanctuary Advisors LLC acquired a new position in Academy Sports and Outdoors in the 2nd quarter valued at $294,000. Truist Financial Corp lifted its holdings in Academy Sports and Outdoors by 45.4% in the 2nd quarter. Truist Financial Corp now owns 7,495 shares of the company’s stock valued at $399,000 after purchasing an additional 2,342 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in Academy Sports and Outdoors by 7.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 7,653 shares of the company’s stock worth $408,000 after purchasing an additional 525 shares during the last quarter. Finally, Impala Asset Management LLC purchased a new stake in shares of Academy Sports and Outdoors during the second quarter worth $3,728,000.

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.