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.
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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