Academy Sports and Outdoors Target of Unusually High Options Trading (NASDAQ:ASO)

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the target of some unusual options trading on Wednesday. Investors purchased 8,017 put options on the company. This is an increase of approximately 142% compared to the average volume of 3,317 put options.

Academy Sports and Outdoors Stock Down 1.3 %

Shares of NASDAQ:ASO traded down $0.71 during trading on Wednesday, reaching $54.52. 229,389 shares of the stock were exchanged, compared to its average volume of 1,472,183. The stock has a fifty day moving average of $53.93 and a two-hundred day moving average of $54.04. Academy Sports and Outdoors has a 1-year low of $44.73 and a 1-year high of $75.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 0.32. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 1.23 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 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business posted $1.38 earnings per share. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Research analysts anticipate that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Wednesday, December 18th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 7.22%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ASO. Citigroup started coverage on shares of Academy Sports and Outdoors in a research note on Wednesday, December 18th. They issued a “buy” rating and a $65.00 price target on the stock. TD Cowen upped their target price on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Telsey Advisory Group decreased their target price 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. Truist Financial boosted their price objective 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. Finally, Evercore ISI cut Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $65.00 to $60.00 in a report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.67.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several large investors have recently modified their holdings of ASO. Bank of Montreal Can raised its stake in shares of Academy Sports and Outdoors by 4.9% during the 2nd quarter. Bank of Montreal Can now owns 10,181 shares of the company’s stock valued at $543,000 after purchasing an additional 475 shares during the period. AXA S.A. purchased a new stake in shares of Academy Sports and Outdoors in the second quarter worth about $2,570,000. AQR Capital Management LLC boosted its position in shares of Academy Sports and Outdoors by 183.7% in the second quarter. AQR Capital Management LLC now owns 100,025 shares of the company’s stock valued at $5,326,000 after acquiring an additional 64,770 shares during the period. The Manufacturers Life Insurance Company grew its stake in Academy Sports and Outdoors by 43.4% during the second quarter. The Manufacturers Life Insurance Company now owns 612,175 shares of the company’s stock valued at $32,598,000 after acquiring an additional 185,295 shares in the last quarter. Finally, Algert Global LLC bought a new stake in Academy Sports and Outdoors during the 2nd quarter worth approximately $2,538,000.

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.