Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Sees Large Growth in Short Interest

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 6,080,000 shares, a growth of 5.0% from the June 30th total of 5,790,000 shares. Approximately 8.6% of the company’s stock are sold short. Based on an average trading volume of 1,620,000 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Evercore ISI upped 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. Wedbush dropped their price target on Academy Sports and Outdoors from $80.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. Morgan Stanley decreased their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. Loop Capital reiterated a “buy” rating and set a $77.00 price target on shares of Academy Sports and Outdoors in a research note on Monday, July 1st. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $55.00 price target (down previously from $80.00) on shares of Academy Sports and Outdoors in a report on Wednesday, June 12th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Academy Sports and Outdoors currently has an average rating of “Moderate Buy” and a consensus target price of $67.87.

Academy Sports and Outdoors Price Performance

Academy Sports and Outdoors stock traded up $1.33 during midday trading on Wednesday, reaching $54.63. The company’s stock had a trading volume of 253,083 shares, compared to its average volume of 1,461,362. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.62. Academy Sports and Outdoors has a fifty-two week low of $42.83 and a fifty-two week high of $75.73. The firm has a market capitalization of $3.94 billion, a PE ratio of 8.15, a P/E/G ratio of 0.92 and a beta of 1.34. The stock’s 50 day simple moving average is $53.90 and its 200 day simple moving average is $60.54.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings data on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the firm posted $1.19 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Academy Sports and Outdoors will post 6.35 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Thursday, June 20th were issued a dividend of $0.11 per share. The ex-dividend date was Thursday, June 20th. This represents a $0.44 annualized dividend and a yield of 0.81%. Academy Sports and Outdoors’s dividend payout ratio is presently 6.73%.

Insiders Place Their Bets

In other news, Director Jeffrey C. Tweedy sold 625 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 10,106 shares in the company, valued at approximately $548,250.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.19% of the stock is currently owned by company insiders.

Institutional Trading of Academy Sports and Outdoors

A number of institutional investors have recently bought and sold shares of ASO. SG Americas Securities LLC purchased a new stake in shares of Academy Sports and Outdoors in the 4th quarter worth about $265,000. Raymond James & Associates grew its position in shares of Academy Sports and Outdoors by 14.7% in the fourth quarter. Raymond James & Associates now owns 51,565 shares of the company’s stock valued at $3,403,000 after purchasing an additional 6,615 shares during the last quarter. Breakwater Capital Group acquired a new stake in shares of Academy Sports and Outdoors in the fourth quarter valued at approximately $265,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $1,842,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $25,933,000.

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.