Brokerages Set Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Target Price at $73.88

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) has been given an average rating of “Moderate Buy” by the thirteen analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $73.88.

A number of research analysts have issued reports on the company. Wells Fargo & Company reduced their price objective on Academy Sports and Outdoors from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Morgan Stanley dropped their price objective on Academy Sports and Outdoors from $70.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, March 22nd. Truist Financial reissued a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a report on Tuesday, March 19th. JPMorgan Chase & Co. raised their price target on Academy Sports and Outdoors from $55.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, TD Cowen lowered their price target on Academy Sports and Outdoors from $86.00 to $82.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd.

Academy Sports and Outdoors Price Performance

Academy Sports and Outdoors stock opened at $53.28 on Friday. The stock’s 50 day moving average is $60.07 and its 200 day moving average is $61.45. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.87 and a quick ratio of 0.51. The firm has a market cap of $3.93 billion, a P/E ratio of 7.93, a P/E/G ratio of 0.81 and a beta of 1.40. Academy Sports and Outdoors has a one year low of $42.83 and a one year high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Thursday, March 21st. The company reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.05). Academy Sports and Outdoors had a return on equity of 28.99% and a net margin of 8.43%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, research analysts expect that Academy Sports and Outdoors will post 6.65 EPS for the current year.

Academy Sports and Outdoors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, March 26th were paid a dividend of $0.11 per share. The ex-dividend date was Monday, March 25th. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.83%. Academy Sports and Outdoors’s payout ratio is 6.55%.

Insider Activity

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $60.00, for a total transaction of $72,000.00. Following the transaction, the director now directly owns 7,870 shares of the company’s stock, valued at $472,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASO. Norges Bank purchased a new stake in Academy Sports and Outdoors in the fourth quarter worth $47,768,000. Point72 Asset Management L.P. lifted its holdings in shares of 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. bought a new position in shares of Academy Sports and Outdoors during the fourth quarter valued at $25,933,000. LSV Asset Management lifted its holdings in shares of Academy Sports and Outdoors by 28.4% during the fourth quarter. LSV Asset Management now owns 1,652,541 shares of the company’s stock valued at $109,068,000 after purchasing an additional 365,855 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Academy Sports and Outdoors by 953.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 403,467 shares of the company’s stock valued at $26,629,000 after purchasing 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.