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

Academy Sports and Outdoors (NASDAQ:ASO) was downgraded by equities research analysts at Truist Financial from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They currently have a $50.00 target price on the stock, down from their previous target price of $63.00. Truist Financial’s target price points to a potential upside of 7.30% from the stock’s current price.

A number of other equities research analysts have also weighed in on ASO. TD Cowen boosted their price objective on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Evercore ISI cut shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $65.00 to $60.00 in a research report on Thursday, October 3rd. Telsey Advisory Group restated an “outperform” rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a research report on Thursday, September 5th. Jefferies Financial Group decreased their price objective on 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, Wedbush restated an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Academy Sports and Outdoors has a consensus rating of “Hold” and a consensus target price of $61.57.

Academy Sports and Outdoors Trading Down 2.5 %

NASDAQ ASO opened at $46.60 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is $54.81 and its two-hundred day simple moving average is $54.21. Academy Sports and Outdoors has a twelve month low of $45.47 and a twelve month high of $75.73. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 7.19, a PEG ratio of 0.92 and a beta of 1.37.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.96 by $0.07. The firm 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 revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.01 EPS. Research analysts forecast that Academy Sports and Outdoors will post 6.02 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the stock in a transaction dated Wednesday, September 18th. The shares were 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 of the company’s stock, valued at $552,172. This represents a 11.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC lifted its position in Academy Sports and Outdoors by 4.6% during the third quarter. CWM LLC now owns 4,480 shares of the company’s stock valued at $261,000 after buying an additional 196 shares during the period. Simmons Bank grew its stake in shares of Academy Sports and Outdoors by 1.9% in the third quarter. Simmons Bank now owns 10,860 shares of the company’s stock worth $634,000 after acquiring an additional 200 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Academy Sports and Outdoors by 1.3% during the third quarter. Daymark Wealth Partners LLC now owns 15,403 shares of the company’s stock valued at $899,000 after acquiring an additional 203 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Academy Sports and Outdoors by 3.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock worth $548,000 after purchasing an additional 250 shares during the last quarter. Finally, Trust Investment Advisors lifted its stake in shares of Academy Sports and Outdoors by 1.8% in the second quarter. Trust Investment Advisors now owns 15,030 shares of the company’s stock worth $800,000 after buying an additional 266 shares in the last quarter.

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.