Academy Sports and Outdoors (NASDAQ:ASO) Price Target Raised to $50.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target raised by Truist Financial from $47.00 to $50.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities analysts have also weighed in on ASO. Citigroup cut their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, June 4th. Bank of America cut their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, June 11th. Wells Fargo & Company boosted their price objective on shares of Academy Sports and Outdoors from $43.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. Loop Capital set a $65.00 price objective on shares of Academy Sports and Outdoors in a research report on Monday, July 21st. Finally, Monness Crespi & Hardt began coverage on shares of Academy Sports and Outdoors in a research report on Monday, August 4th. They issued a “buy” rating and a $65.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.71.

Academy Sports and Outdoors Stock Up 1.6%

Shares of NASDAQ ASO opened at $50.86 on Wednesday. Academy Sports and Outdoors has a 12-month low of $33.34 and a 12-month high of $64.61. The company has a market capitalization of $3.39 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 1.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.64 and a quick ratio of 0.29. The firm’s 50-day moving average is $51.89 and its two-hundred day moving average is $46.34.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.13). Academy Sports and Outdoors had a net margin of 6.21% and a return on equity of 18.47%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the company earned $1.08 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Academy Sports and Outdoors has set its FY 2025 guidance at 5.450-6.25 EPS. Equities analysts anticipate that Academy Sports and Outdoors will post 5.59 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 11th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.52 annualized dividend and a yield of 1.0%. Academy Sports and Outdoors’s dividend payout ratio is 9.74%.

Insider Buying and Selling

In related news, Director Christopher Lee Turner sold 4,400 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $44.48, for a total transaction of $195,712.00. Following the completion of the transaction, the director owned 7,084 shares of the company’s stock, valued at approximately $315,096.32. This represents a 38.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.62% of the company’s stock.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several large investors have recently made changes to their positions in ASO. LSV Asset Management increased its position in shares of Academy Sports and Outdoors by 43.0% in the second quarter. LSV Asset Management now owns 3,119,790 shares of the company’s stock worth $139,798,000 after acquiring an additional 937,449 shares in the last quarter. Norges Bank acquired a new stake in shares of Academy Sports and Outdoors in the second quarter worth $34,228,000. Westwood Holdings Group Inc. increased its position in shares of Academy Sports and Outdoors by 36.1% in the first quarter. Westwood Holdings Group Inc. now owns 1,992,997 shares of the company’s stock worth $90,901,000 after acquiring an additional 528,367 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Academy Sports and Outdoors by 45.2% in the second quarter. William Blair Investment Management LLC now owns 1,440,032 shares of the company’s stock worth $64,528,000 after acquiring an additional 448,582 shares in the last quarter. Finally, Hood River Capital Management LLC increased its position in shares of Academy Sports and Outdoors by 125.0% in the second quarter. Hood River Capital Management LLC now owns 782,742 shares of the company’s stock worth $35,075,000 after acquiring an additional 434,894 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.