Wedbush Reaffirms “Outperform” Rating for Academy Sports and Outdoors (NASDAQ:ASO)

Wedbush reiterated their outperform rating on shares of Academy Sports and Outdoors (NASDAQ:ASO) in a research report report published on Wednesday, Benzinga reports. They currently have a $65.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company lowered their price objective on shares of Academy Sports and Outdoors from $55.00 to $46.00 and set an equal weight rating for the company in a research report on Monday, August 12th. Morgan Stanley dropped their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an equal weight rating for the company in a research note on Wednesday, June 12th. Loop Capital reiterated a buy rating and issued a $77.00 price objective on shares of Academy Sports and Outdoors in a research note on Monday, July 1st. Truist Financial dropped their price objective on shares of Academy Sports and Outdoors from $75.00 to $73.00 and set a buy rating for the company in a research note on Monday, June 10th. Finally, Evercore ISI raised their target price on shares of Academy Sports and Outdoors from $60.00 to $70.00 and gave the company an outperform rating in a report on Thursday, June 20th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $62.86.

Academy Sports and Outdoors Price Performance

Shares of Academy Sports and Outdoors stock opened at $59.01 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.94 and a beta of 1.34. Academy Sports and Outdoors has a 1-year low of $42.83 and a 1-year high of $75.73. The firm’s 50-day moving average price is $53.61 and its two-hundred day moving average price is $57.68.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.07. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the business earned $2.01 earnings per share. Academy Sports and Outdoors’s quarterly revenue was down 2.2% on a year-over-year basis. On average, equities analysts predict that Academy Sports and Outdoors will post 6.25 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently announced 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. This represents a $0.44 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, September 19th. Academy Sports and Outdoors’s payout ratio is 6.73%.

Insiders Place Their Bets

In other news, Director Jeffrey C. Tweedy sold 625 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total value of $33,906.25. Following the transaction, the director now owns 10,106 shares in the company, valued at approximately $548,250.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASO. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Academy Sports and Outdoors by 3.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock valued at $548,000 after acquiring an additional 250 shares during the period. Trust Investment Advisors lifted its position in shares of Academy Sports and Outdoors by 1.8% during the 2nd quarter. Trust Investment Advisors now owns 15,030 shares of the company’s stock valued at $800,000 after acquiring an additional 266 shares during the period. Great Valley Advisor Group Inc. lifted its position in shares of Academy Sports and Outdoors by 3.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock valued at $409,000 after acquiring an additional 269 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Academy Sports and Outdoors by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,410 shares of the company’s stock valued at $1,875,000 after acquiring an additional 276 shares during the period. Finally, Moody National Bank Trust Division lifted its position in shares of Academy Sports and Outdoors by 2.1% during the 1st quarter. Moody National Bank Trust Division now owns 13,487 shares of the company’s stock valued at $911,000 after acquiring an additional 276 shares during the period.

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.