Academy Sports and Outdoors (NASDAQ:ASO) Trading 5.4% Higher After Analyst Upgrade

Academy Sports and Outdoors, Inc. (NASDAQ:ASO)’s share price shot up 5.4% on Wednesday after Truist Financial raised their price target on the stock from $50.00 to $51.00. Truist Financial currently has a hold rating on the stock. Academy Sports and Outdoors traded as high as $55.46 and last traded at $55.40. 507,846 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 1,456,782 shares. The stock had previously closed at $52.58.

Several other research analysts have also recently weighed in on the company. Jefferies Financial Group lowered their target price on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Loop Capital restated a “buy” rating and set a $77.00 target price on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Telsey Advisory Group decreased their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Finally, Wells Fargo & Company upped their price objective on Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Academy Sports and Outdoors currently has an average rating of “Hold” and a consensus target price of $61.07.

Insider Transactions at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the completion of the transaction, the director now directly owns 8,906 shares of the company’s stock, valued at $552,172. This represents a 11.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cetera Advisors LLC purchased a new position in shares of Academy Sports and Outdoors during the 1st quarter worth approximately $262,000. CWM LLC increased its stake in shares of Academy Sports and Outdoors by 36.9% during the 2nd quarter. CWM LLC now owns 4,284 shares of the company’s stock worth $228,000 after purchasing an additional 1,155 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Academy Sports and Outdoors by 253.1% during the 2nd quarter. SG Americas Securities LLC now owns 14,757 shares of the company’s stock worth $786,000 after purchasing an additional 10,578 shares in the last quarter. Great Valley Advisor Group Inc. increased its stake 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 worth $409,000 after purchasing an additional 269 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its stake in shares of Academy Sports and Outdoors by 17.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 5,412 shares of the company’s stock worth $288,000 after purchasing an additional 799 shares in the last quarter.

Academy Sports and Outdoors Stock Performance

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’s 50 day moving average price is $51.52 and its two-hundred day moving average price is $53.47. The firm has a market capitalization of $3.87 billion, a PE ratio of 8.62, a PEG ratio of 0.97 and a beta of 1.31.

Academy Sports and Outdoors (NASDAQ:ASO) last released its earnings results on Tuesday, December 10th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.30). The firm 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 25.56% and a net margin of 7.98%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. On average, equities analysts expect that Academy Sports and Outdoors, Inc. will post 6 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, December 18th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.44 annualized dividend and a yield of 0.80%. Academy Sports and Outdoors’s payout ratio is currently 6.79%.

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.