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

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 9,670,000 shares, a decrease of 22.5% from the August 15th total of 12,470,000 shares. Based on an average daily volume of 2,210,000 shares, the short-interest ratio is presently 4.4 days. Approximately 15.1% of the company’s shares are short sold.

Several equities research analysts recently weighed in on ASO shares. Loop Capital boosted their target price on Academy Sports and Outdoors from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. Zacks Investment Research raised shares of Academy Sports and Outdoors from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Thursday, September 9th. Guggenheim boosted their price target on shares of Academy Sports and Outdoors from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, September 10th. Credit Suisse Group lifted their target price on Academy Sports and Outdoors from $44.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, September 10th. Finally, Stephens upped their target price on Academy Sports and Outdoors from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, June 9th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Academy Sports and Outdoors presently has a consensus rating of “Buy” and a consensus price target of $51.67.

NASDAQ:ASO opened at $42.70 on Wednesday. Academy Sports and Outdoors has a 12-month low of $12.05 and a 12-month high of $47.65. The company has a current ratio of 1.46, a quick ratio of 0.51 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $39.64 and its 200-day simple moving average is $35.71. The firm has a market cap of $3.99 billion and a P/E ratio of 7.71.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Wednesday, September 8th. The company reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.92. Academy Sports and Outdoors had a net margin of 8.22% and a return on equity of 48.08%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.67 billion. The company’s revenue was up 11.5% on a year-over-year basis. Research analysts forecast that Academy Sports and Outdoors will post 5.49 EPS for the current fiscal year.

In related news, insider Heather A. Davis sold 7,229 shares of the firm’s stock in a transaction that occurred on Thursday, September 16th. The shares were sold at an average price of $46.06, for a total value of $332,967.74. Following the sale, the insider now owns 8,251 shares of the company’s stock, valued at $380,041.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2006 Allstar Blocker L.P. Kkr sold 18,645,602 shares of the firm’s stock in a transaction on Friday, September 17th. The shares were sold at an average price of $43.52, for a total transaction of $811,456,599.04. The disclosure for this sale can be found here. Insiders have sold 28,854,760 shares of company stock worth $1,202,944,760 over the last quarter. Insiders own 1.83% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Academy Sports and Outdoors during the 1st quarter valued at approximately $429,000. Los Angeles Capital Management LLC purchased a new stake in Academy Sports and Outdoors during the first quarter worth $2,261,000. Alliancebernstein L.P. purchased a new stake in Academy Sports and Outdoors during the first quarter worth $3,889,000. Rhumbline Advisers grew its holdings in Academy Sports and Outdoors by 109.5% in the first quarter. Rhumbline Advisers now owns 36,545 shares of the company’s stock valued at $986,000 after purchasing an additional 19,102 shares during the last quarter. Finally, The PNC Financial Services Group Inc. purchased a new position in shares of Academy Sports and Outdoors in the first quarter valued at $38,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

Academy Sports and Outdoors Company Profile

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; baseball, football, basketball, soccer, golf, racket sports, volleyball, fitness equipment, fitness accessories, and nutrition; and patio equipment, outdoor cooking, wheeled goods, trampolines, play sets, watersports, pet equipment, electronics, and watches.

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