Academy Sports and Outdoors (NASDAQ:ASO) Price Target Cut to $58.00 by Analysts at TD Cowen

Academy Sports and Outdoors (NASDAQ:ASO) had its target price trimmed by TD Cowen from $82.00 to $58.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an equal weight rating for the company in a research report on Wednesday. Wells Fargo & Company decreased their target price on shares of Academy Sports and Outdoors from $83.00 to $80.00 and set an overweight rating for the company in a research report on Thursday, April 25th. UBS Group cut shares of Academy Sports and Outdoors from a buy rating to a neutral rating and decreased their target price for the company from $81.00 to $58.00 in a research report on Wednesday. Robert W. Baird increased their target price on shares of Academy Sports and Outdoors from $70.00 to $80.00 and gave the company an outperform rating in a research report on Friday, March 22nd. Finally, B. Riley reissued a buy rating and set a $72.00 target price (up previously from $65.00) on shares of Academy Sports and Outdoors in a research report on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $66.27.

Academy Sports and Outdoors Price Performance

Shares of ASO opened at $51.79 on Wednesday. The company has a 50 day moving average price of $56.60 and a 200-day moving average price of $62.18. Academy Sports and Outdoors has a fifty-two week low of $42.83 and a fifty-two week high of $75.73. The stock has a market capitalization of $3.74 billion, a PE ratio of 7.92, a PEG ratio of 0.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 1.62.

Academy Sports and Outdoors (NASDAQ:ASO) last announced 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 period in the previous year, the company posted $1.19 EPS. Academy Sports and Outdoors’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts predict that Academy Sports and Outdoors will post 6.57 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, June 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.85%. Academy Sports and Outdoors’s payout ratio is 6.73%.

Insider Transactions at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total value of $72,000.00. Following the sale, the director now owns 7,870 shares in the company, valued at $472,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.19% of the company’s stock.

Institutional Trading of Academy Sports and Outdoors

Hedge funds and other institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund boosted its holdings in Academy Sports and Outdoors by 5.8% during the third quarter. New York State Common Retirement Fund now owns 31,739 shares of the company’s stock worth $1,500,000 after buying an additional 1,735 shares in the last quarter. Swiss National Bank boosted its holdings in Academy Sports and Outdoors by 0.4% during the third quarter. Swiss National Bank now owns 168,100 shares of the company’s stock worth $7,946,000 after buying an additional 600 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Academy Sports and Outdoors by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 661,316 shares of the company’s stock worth $31,260,000 after buying an additional 20,780 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Academy Sports and Outdoors by 42.8% during the third quarter. Van ECK Associates Corp now owns 15,447 shares of the company’s stock worth $730,000 after buying an additional 4,630 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Academy Sports and Outdoors by 12.8% during the third quarter. Deutsche Bank AG now owns 40,470 shares of the company’s stock worth $1,913,000 after buying an additional 4,605 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.