Academy Sports and Outdoors (NASDAQ:ASO) Trading 4.7% Higher – Here’s Why

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) traded up 4.7% during trading on Wednesday . The company traded as high as $58.63 and last traded at $58.50. 540,537 shares traded hands during trading, a decline of 63% from the average session volume of 1,471,347 shares. The stock had previously closed at $55.90.

Analyst Upgrades and Downgrades

ASO has been the topic of several research analyst reports. Citigroup initiated coverage on shares of Academy Sports and Outdoors in a research report on Wednesday. They issued a “buy” rating and a $65.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday, December 11th. Jefferies Financial Group dropped their price objective on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Telsey Advisory Group lowered their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, TD Cowen upped their price target on Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.33.

Academy Sports and Outdoors Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.57. The stock has a fifty day simple moving average of $51.43 and a two-hundred day simple moving average of $53.41. The stock has a market cap of $3.99 billion, a PE ratio of 9.44, a PEG ratio of 1.06 and a beta of 1.31.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its earnings results on Tuesday, December 10th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the company posted $1.38 earnings per share. Academy Sports and Outdoors’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.92 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Wednesday, December 18th. Academy Sports and Outdoors’s payout ratio is 7.22%.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of institutional investors have recently made changes to their positions in ASO. Franklin Resources Inc. raised its stake in shares of Academy Sports and Outdoors by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 95,822 shares of the company’s stock valued at $5,139,000 after purchasing an additional 576 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in Academy Sports and Outdoors by 94.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,300 shares of the company’s stock valued at $484,000 after buying an additional 4,038 shares in the last quarter. Virtu Financial LLC acquired a new stake in Academy Sports and Outdoors during the third quarter valued at approximately $306,000. TD Private Client Wealth LLC bought a new position in Academy Sports and Outdoors during the 3rd quarter worth approximately $40,000. Finally, Geode Capital Management LLC grew its position in shares of Academy Sports and Outdoors by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company’s stock worth $118,092,000 after acquiring an additional 50,715 shares in the last quarter.

Academy Sports and Outdoors Company Profile

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.