Academy Sports and Outdoors (NASDAQ:ASO) Price Target Raised to $51.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price objective raised by equities research analysts at Truist Financial from $50.00 to $51.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target points to a potential downside of 4.32% from the company’s current price.

A number of other research firms have also weighed in on ASO. Evercore ISI lowered Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and lowered their price objective for the stock from $65.00 to $60.00 in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Loop Capital reissued a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Robert W. Baird lowered their price objective on Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 price target on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.07.

Academy Sports and Outdoors Stock Down 2.2 %

Shares of ASO opened at $53.30 on Wednesday. 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 has a one year low of $44.73 and a one year high of $75.73. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 0.97 and a beta of 1.31. The stock has a 50 day moving average price of $51.47 and a 200 day moving average price of $53.47.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.30). The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Equities research analysts forecast that Academy Sports and Outdoors will post 6 earnings per share for the current fiscal year.

Insider Activity at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction dated 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 owns 8,906 shares in the company, valued at approximately $552,172. This trade represents a 11.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. purchased a new position in shares of Academy Sports and Outdoors in the 3rd quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Academy Sports and Outdoors during the 3rd quarter worth about $40,000. TD Private Client Wealth LLC acquired a new stake in shares of Academy Sports and Outdoors during the 3rd quarter worth about $40,000. Farther Finance Advisors LLC raised its position in shares of Academy Sports and Outdoors by 98.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock worth $43,000 after acquiring an additional 366 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Academy Sports and Outdoors during the 3rd quarter worth about $58,000.

About Academy Sports and Outdoors

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.