Academy Sports and Outdoors (NASDAQ:ASO) Price Target Raised to $51.00 at Truist Financial

Academy Sports and Outdoors (NASDAQ:ASO) had its target price boosted by analysts at Truist Financial from $50.00 to $51.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential downside of 8.75% from the company’s current price.

ASO has been the topic of a number of other research reports. Evercore ISI cut Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and decreased their target price for the company from $65.00 to $60.00 in a research report on Thursday, October 3rd. Loop Capital reiterated a “buy” rating and issued a $77.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Wells Fargo & Company lifted their target price on Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Wedbush reissued an “outperform” rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group cut their price target on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a research note 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.07.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ ASO traded up $3.31 during mid-day trading on Wednesday, reaching $55.89. The company had a trading volume of 857,567 shares, compared to its average volume of 1,458,506. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66. Academy Sports and Outdoors has a one year low of $44.73 and a one year high of $75.73. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 0.97 and a beta of 1.31. The business’s 50-day simple moving average is $51.52 and its 200 day simple moving average is $53.47.

Academy Sports and Outdoors (NASDAQ:ASO) last released its earnings results on Tuesday, December 10th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.30). Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. The business’s revenue was down 3.9% on a year-over-year basis. On average, research analysts predict that Academy Sports and Outdoors will post 6 earnings per share for the current fiscal year.

Insider Buying and Selling at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total value of $74,400.00. Following the transaction, the director now directly owns 8,906 shares of the company’s stock, valued at approximately $552,172. The trade was a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On Academy Sports and Outdoors

Institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new position in Academy Sports and Outdoors in the third quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of Academy Sports and Outdoors during the third quarter worth approximately $40,000. TD Private Client Wealth LLC acquired a new position in shares of Academy Sports and Outdoors during the third quarter worth approximately $40,000. Farther Finance Advisors LLC raised its position in shares of Academy Sports and Outdoors by 98.4% during the third quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock worth $43,000 after purchasing an additional 366 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Academy Sports and Outdoors during the third quarter worth approximately $58,000.

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.