Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Sees Large Growth in Short Interest

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 6,080,000 shares, a growth of 5.0% from the June 30th total of 5,790,000 shares. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is currently 3.8 days. Currently, 8.6% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ASO shares. UBS Group downgraded Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $81.00 to $58.00 in a report on Wednesday, June 12th. Robert W. Baird lowered their price objective on shares of Academy Sports and Outdoors from $80.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. TD Cowen decreased their price target 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. Telsey Advisory Group reissued an “outperform” rating and set a $75.00 price objective on shares of Academy Sports and Outdoors in a research report on Tuesday, June 11th. Finally, Morgan Stanley dropped their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 12th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $67.87.

Insider Transactions at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 625 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total transaction of $33,906.25. Following the completion of the sale, the director now directly owns 10,106 shares in the company, valued at $548,250.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several large investors have recently modified their holdings of ASO. Rothschild Investment LLC purchased a new stake in Academy Sports and Outdoors in the second quarter worth $690,000. Bryn Mawr Capital Management LLC raised its stake in Academy Sports and Outdoors by 3.1% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 38,693 shares of the company’s stock valued at $2,060,000 after acquiring an additional 1,154 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Academy Sports and Outdoors in the 2nd quarter valued at about $666,000. Peregrine Capital Management LLC raised its stake in Academy Sports and Outdoors by 7.5% in the 2nd quarter. Peregrine Capital Management LLC now owns 173,708 shares of the company’s stock valued at $9,250,000 after acquiring an additional 12,185 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Academy Sports and Outdoors by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,404 shares of the company’s stock valued at $927,000 after acquiring an additional 2,134 shares during the period.

Academy Sports and Outdoors Stock Up 2.5 %

NASDAQ:ASO traded up $1.33 on Wednesday, hitting $54.63. The stock had a trading volume of 253,083 shares, compared to its average volume of 1,461,362. Academy Sports and Outdoors has a 1 year low of $42.83 and a 1 year high of $75.73. The firm’s fifty day simple moving average is $53.90 and its two-hundred day simple moving average is $60.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.62. The stock has a market cap of $3.94 billion, a P/E ratio of 8.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.34.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the business posted $1.19 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Analysts predict that Academy Sports and Outdoors will post 6.35 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Thursday, June 20th. Academy Sports and Outdoors’s payout ratio is 6.73%.

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.