Academy Sports and Outdoors (NASDAQ:ASO) Shares Down 5.7% – Here’s What Happened

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) dropped 5.7% on Monday . The stock traded as low as $53.90 and last traded at $53.90. Approximately 487,653 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 1,463,743 shares. The stock had previously closed at $57.13.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ASO shares. Wells Fargo & Company lifted their target price on shares of Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. 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. UBS Group lowered Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $81.00 to $58.00 in a research report on Wednesday, June 12th. Robert W. Baird dropped their price objective on shares of Academy Sports and Outdoors from $80.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. downgraded shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $76.00 to $53.00 in a research note on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.

Academy Sports and Outdoors Stock Performance

The stock has a market capitalization of $3.94 billion, a PE ratio of 8.41, a P/E/G ratio of 1.16 and a beta of 1.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66. The firm has a 50 day moving average of $55.15 and a 200-day moving average of $56.01.

Academy Sports and Outdoors (NASDAQ:ASO) last issued 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 net margin of 7.98% and a return on equity of 25.56%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business posted $2.01 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.03 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 19th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, September 19th. Academy Sports and Outdoors’s payout ratio is presently 6.73%.

Insider Buying and Selling at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’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 owns 8,906 shares of the company’s stock, valued at $552,172. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jeffrey C. Tweedy sold 625 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 $548,250.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total value of $74,400.00. Following the completion of the transaction, the director now directly owns 8,906 shares in the company, valued at approximately $552,172. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. CWM LLC raised its stake in shares of Academy Sports and Outdoors by 4.6% in the third quarter. CWM LLC now owns 4,480 shares of the company’s stock valued at $261,000 after purchasing an additional 196 shares in the last quarter. Daymark Wealth Partners LLC raised its stake in shares of Academy Sports and Outdoors by 1.3% in the 3rd quarter. Daymark Wealth Partners LLC now owns 15,403 shares of the company’s stock valued at $899,000 after buying an additional 203 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Academy Sports and Outdoors during the 3rd quarter worth about $58,000. GAMMA Investing LLC boosted its position in shares of Academy Sports and Outdoors by 54.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,293 shares of the company’s stock valued at $75,000 after acquiring an additional 456 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Academy Sports and Outdoors by 51.0% in the third quarter. Handelsbanken Fonder AB now owns 22,200 shares of the company’s stock valued at $1,296,000 after acquiring an additional 7,500 shares during the period.

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.