Academy Sports and Outdoors (NASDAQ:ASO) Cut to Hold at Truist Financial

Truist Financial lowered shares of Academy Sports and Outdoors (NASDAQ:ASO) from a buy rating to a hold rating in a research report released on Tuesday, Marketbeat reports. They currently have $50.00 price target on the stock, down from their previous price target of $63.00.

A number of other research firms have also issued reports on ASO. TD Cowen upped their target price on Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, September 11th. Wedbush reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. JPMorgan Chase & Co. lowered Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $76.00 to $53.00 in a research note on Monday, August 5th. Evercore ISI lowered Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $65.00 to $60.00 in a research note on Thursday, October 3rd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $77.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.57.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ:ASO opened at $45.63 on Tuesday. The business’s 50 day simple moving average is $54.23 and its 200-day simple moving average is $54.01. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 0.88 and a beta of 1.37. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 0.41. Academy Sports and Outdoors has a 12 month low of $44.73 and a 12 month high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.96 by $0.07. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.01 EPS. As a group, equities analysts forecast that Academy Sports and Outdoors will post 6.01 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.96%. Academy Sports and Outdoors’s payout ratio is 6.79%.

Insider Transactions at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction 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 in the company, valued at $552,172. This represents a 11.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.19% of the company’s stock.

Institutional Trading of Academy Sports and Outdoors

A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Academy Sports and Outdoors during the 3rd quarter worth $306,000. TD Private Client Wealth LLC purchased a new stake in Academy Sports and Outdoors during the 3rd quarter worth $40,000. Geode Capital Management LLC boosted its position in Academy Sports and Outdoors by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company’s stock valued at $118,092,000 after buying an additional 50,715 shares during the last quarter. Vestcor Inc grew its stake in shares of Academy Sports and Outdoors by 184.3% during the third quarter. Vestcor Inc now owns 16,197 shares of the company’s stock valued at $945,000 after acquiring an additional 10,500 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Academy Sports and Outdoors during the third quarter valued at about $323,000.

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.