Academy Sports and Outdoors (NASDAQ:ASO) Stock Rating Reaffirmed by Wedbush

Wedbush restated their outperform rating on shares of Academy Sports and Outdoors (NASDAQ:ASO) in a research report released on Thursday morning, Benzinga reports. Wedbush currently has a $65.00 price objective on the stock.

ASO has been the topic of several other research reports. Bank of America cut shares of Academy Sports and Outdoors from a buy rating to a neutral rating and lowered their target price for the company from $75.00 to $63.00 in a research note on Tuesday, June 11th. UBS Group lowered shares of Academy Sports and Outdoors from a buy rating to a neutral rating and lowered their price objective for the company from $81.00 to $58.00 in a research note on Wednesday, June 12th. Evercore ISI upped their target price on Academy Sports and Outdoors from $60.00 to $70.00 and gave the stock an outperform rating in a research report on Thursday, June 20th. Loop Capital reiterated a buy rating and set a $77.00 price target on shares of Academy Sports and Outdoors in a research report on Monday, July 1st. Finally, Robert W. Baird decreased their target price on Academy Sports and Outdoors from $80.00 to $68.00 and set an outperform rating for the company in a research note on Wednesday, June 12th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $64.93.

Academy Sports and Outdoors Price Performance

NASDAQ ASO opened at $53.58 on Thursday. The company has a 50-day moving average price of $53.16 and a two-hundred day moving average price of $58.10. Academy Sports and Outdoors has a 52 week low of $42.83 and a 52 week high of $75.73. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 0.95 and a beta of 1.34. The company has a current ratio of 1.62, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.11). Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Analysts forecast that Academy Sports and Outdoors will post 6.25 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be issued 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 0.82%. Academy Sports and Outdoors’s payout ratio is presently 6.73%.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of Academy Sports and Outdoors stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total transaction of $33,906.25. Following the transaction, the director now directly owns 10,106 shares in the company, valued at approximately $548,250.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several institutional investors and hedge funds have recently bought and sold shares of ASO. Pacer Advisors Inc. acquired a new position in shares of Academy Sports and Outdoors in the second quarter worth $174,054,000. Dimensional Fund Advisors LP increased its position in Academy Sports and Outdoors by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,969,886 shares of the company’s stock worth $158,147,000 after purchasing an additional 481,640 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Academy Sports and Outdoors by 36.6% during the 4th quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock worth $137,878,000 after purchasing an additional 559,414 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Academy Sports and Outdoors by 4.2% during the 2nd quarter. LSV Asset Management now owns 1,721,741 shares of the company’s stock valued at $91,683,000 after buying an additional 69,700 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in shares of Academy Sports and Outdoors by 1.9% in the 2nd quarter. King Luther Capital Management Corp now owns 1,613,209 shares of the company’s stock valued at $85,903,000 after buying an additional 29,912 shares in the last quarter.

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.