Academy Sports and Outdoors (NASDAQ:ASO) Reaches New 12-Month Low – What’s Next?

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) shares hit a new 52-week low on Wednesday . The stock traded as low as $44.50 and last traded at $44.99, with a volume of 707730 shares trading hands. The stock had previously closed at $46.78.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ASO shares. Wedbush reaffirmed an “outperform” rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, December 11th. TD Cowen boosted their target price on Academy Sports and Outdoors from $54.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Truist Financial raised their price target on Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Robert W. Baird cut their price objective on shares of Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Finally, Citigroup started coverage on shares of Academy Sports and Outdoors in a research report on Wednesday, December 18th. They issued a “buy” rating and a $65.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.67.

Academy Sports and Outdoors Price Performance

The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 7.35, a P/E/G ratio of 1.02 and a beta of 1.25. The firm has a 50-day simple moving average of $52.92 and a two-hundred day simple moving average of $53.65. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.30). Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the business posted $1.38 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. As a group, analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th will be issued a $0.13 dividend. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 25th. This represents a $0.52 dividend on an annualized basis and a yield of 1.17%. Academy Sports and Outdoors’s payout ratio is presently 7.22%.

Institutional Trading of Academy Sports and Outdoors

Several institutional investors have recently bought and sold shares of ASO. FMR LLC lifted its stake in Academy Sports and Outdoors by 15.3% in the 3rd quarter. FMR LLC now owns 10,739,463 shares of the company’s stock valued at $626,755,000 after buying an additional 1,422,971 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Academy Sports and Outdoors during the fourth quarter worth $52,402,000. Norges Bank acquired a new position in Academy Sports and Outdoors in the fourth quarter valued at about $47,436,000. Stephens Investment Management Group LLC grew its stake in shares of Academy Sports and Outdoors by 331.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 959,680 shares of the company’s stock valued at $55,210,000 after buying an additional 737,212 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in Academy Sports and Outdoors during the fourth quarter worth about $42,320,000.

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.