Short Interest in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Increases By 14.8%

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 5,740,000 shares, a growth of 14.8% from the May 31st total of 5,000,000 shares. Based on an average trading volume of 1,570,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 8.1% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities analysts have issued reports on ASO shares. JPMorgan Chase & Co. increased their price objective on Academy Sports and Outdoors from $55.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Evercore ISI lifted their price target on shares of Academy Sports and Outdoors from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. UBS Group lowered shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $81.00 to $58.00 in a research note on Wednesday, June 12th. TD Cowen decreased their target price on shares of Academy Sports and Outdoors from $82.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Finally, Truist Financial dropped their price target on Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Academy Sports and Outdoors has an average rating of “Moderate Buy” and a consensus target price of $67.87.

Academy Sports and Outdoors Stock Performance

Shares of NASDAQ:ASO traded down $0.01 during midday trading on Tuesday, reaching $50.65. 1,211,796 shares of the company’s stock traded hands, compared to its average volume of 1,469,946. 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 one year low of $42.83 and a one year high of $75.73. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 7.74, a P/E/G ratio of 0.89 and a beta of 1.34. The stock has a 50 day moving average of $55.20 and a 200 day moving average of $62.00.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. 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 previous year, the business earned $1.19 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Academy Sports and Outdoors will post 6.4 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, June 20th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.73%.

Insider Buying and Selling

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. Following the transaction, the director now owns 7,870 shares in the company, valued at $472,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Academy Sports and Outdoors during the 4th quarter worth $47,768,000. Point72 Asset Management L.P. lifted its position in Academy Sports and Outdoors by 36.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock valued at $137,878,000 after purchasing an additional 559,414 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Academy Sports and Outdoors in the fourth quarter worth about $25,933,000. LSV Asset Management increased its position in Academy Sports and Outdoors by 28.4% in the fourth quarter. LSV Asset Management now owns 1,652,541 shares of the company’s stock worth $109,068,000 after buying an additional 365,855 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Academy Sports and Outdoors by 953.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 403,467 shares of the company’s stock valued at $26,629,000 after buying an additional 365,168 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.