Academy Sports and Outdoors (NASDAQ:ASO) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Academy Sports and Outdoors (NASDAQ:ASO) from an overweight rating to a neutral rating in a research report released on Monday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $53.00 price objective on the stock, down from their prior price objective of $76.00.

Several other equities research analysts also recently weighed in on the company. Loop Capital reiterated a buy rating and issued a $77.00 price target on shares of Academy Sports and Outdoors in a report on Monday, July 1st. Wedbush reduced their price objective on Academy Sports and Outdoors from $80.00 to $65.00 and set an outperform rating on the stock in a report on Wednesday, June 12th. Telsey Advisory Group restated an outperform rating and set a $75.00 price objective on shares of Academy Sports and Outdoors in a report on Tuesday, June 11th. Evercore ISI raised their price objective on Academy Sports and Outdoors from $60.00 to $70.00 and gave the stock an outperform rating in a report on Thursday, June 20th. Finally, Truist Financial reduced their price objective on Academy Sports and Outdoors from $75.00 to $73.00 and set a buy rating on the stock in a report on Monday, June 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $65.60.

Academy Sports and Outdoors Trading Up 3.7 %

Shares of NASDAQ ASO opened at $49.54 on Monday. 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 business’s 50 day moving average price is $53.23 and its 200-day moving average price is $59.94. Academy Sports and Outdoors has a fifty-two week low of $42.83 and a fifty-two week high of $75.73. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 0.87 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 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Academy Sports and Outdoors will post 6.35 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Thursday, June 20th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.89%. Academy Sports and Outdoors’s dividend payout ratio is presently 6.73%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Academy Sports and Outdoors

A number of large investors have recently made changes to their positions in the stock. Thoroughbred Financial Services LLC lifted its position in Academy Sports and Outdoors by 6.2% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 11,490 shares of the company’s stock worth $611,000 after acquiring an additional 666 shares during the period. American Century Companies Inc. raised its stake in shares of Academy Sports and Outdoors by 17.6% in the second quarter. American Century Companies Inc. now owns 386,378 shares of the company’s stock worth $20,575,000 after purchasing an additional 57,723 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Academy Sports and Outdoors by 1,754.6% during the second quarter. Headlands Technologies LLC now owns 9,514 shares of the company’s stock worth $507,000 after purchasing an additional 9,001 shares during the period. Quest Partners LLC boosted its position in Academy Sports and Outdoors by 1,136.5% in the second quarter. Quest Partners LLC now owns 5,725 shares of the company’s stock valued at $305,000 after buying an additional 5,262 shares during the last quarter. Finally, LSV Asset Management raised its position in Academy Sports and Outdoors by 4.2% during the 2nd quarter. LSV Asset Management now owns 1,721,741 shares of the company’s stock worth $91,683,000 after buying an additional 69,700 shares during 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.