Academy Sports and Outdoors (NASDAQ:ASO) Shares Down 7.5% – Here’s What Happened

Academy Sports and Outdoors, Inc. (NASDAQ:ASO)’s stock price dropped 7.5% during trading on Tuesday . The company traded as low as $46.87 and last traded at $46.76. Approximately 808,278 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 1,490,997 shares. The stock had previously closed at $50.56.

Analysts Set New Price Targets

A number of brokerages have recently commented on ASO. 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. Citigroup began coverage on shares of Academy Sports and Outdoors in a research note on Wednesday, December 18th. They set a “buy” rating and a $65.00 price target on the stock. Truist Financial increased their target price on Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird reduced their target price on Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Finally, TD Cowen increased their price target on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Academy Sports and Outdoors has an average rating of “Hold” and a consensus price target of $61.67.

Academy Sports and Outdoors Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57. The firm has a 50-day moving average price of $53.13 and a 200 day moving average price of $53.70. The stock has a market capitalization of $3.25 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.30). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.38 EPS. On average, analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.11%. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 25th. Academy Sports and Outdoors’s dividend payout ratio is 7.22%.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several institutional investors and hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Academy Sports and Outdoors during the fourth quarter valued at approximately $5,520,000. Mackenzie Financial Corp raised its holdings in Academy Sports and Outdoors by 395.5% in the 4th quarter. Mackenzie Financial Corp now owns 23,153 shares of the company’s stock worth $1,332,000 after purchasing an additional 18,480 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Academy Sports and Outdoors in the 4th quarter worth $3,581,000. CSS LLC IL boosted its stake in shares of Academy Sports and Outdoors by 52.2% during the 4th quarter. CSS LLC IL now owns 7,610 shares of the company’s stock valued at $438,000 after purchasing an additional 2,610 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Academy Sports and Outdoors by 15.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,257 shares of the company’s stock valued at $8,874,000 after purchasing an additional 20,903 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.