Academy Sports and Outdoors (NASDAQ:ASO) Price Target Cut to $60.00

Academy Sports and Outdoors (NASDAQ:ASO) had its target price cut by Evercore ISI from $70.00 to $60.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently commented on ASO. JPMorgan Chase & Co. boosted their target price on shares of Academy Sports and Outdoors from $55.00 to $87.00 and gave the company an overweight rating in a research report on Wednesday, March 20th. UBS Group cut shares of Academy Sports and Outdoors from a buy rating to a neutral rating and lowered their price objective for the stock from $81.00 to $58.00 in a research report on Wednesday. Wells Fargo & Company reiterated an equal weight rating and set a $55.00 price objective (down from $80.00) on shares of Academy Sports and Outdoors in a research report on Wednesday. Truist Financial lowered their price objective on shares of Academy Sports and Outdoors from $75.00 to $73.00 and set a buy rating for the company in a research report on Monday, June 10th. Finally, 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 report on Wednesday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $66.27.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ:ASO opened at $51.79 on Wednesday. The firm has a 50 day moving average of $56.60 and a 200-day moving average of $62.18. 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 current ratio of 1.62, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors has a 12 month low of $42.83 and a 12 month high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.11). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. Academy Sports and Outdoors’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 earnings per share. On average, equities research analysts predict that Academy Sports and Outdoors will post 6.57 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

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

Insider Activity

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s 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 directly owns 7,870 shares of the company’s stock, valued at approximately $472,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On Academy Sports and Outdoors

A number of institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund boosted its stake 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 acquiring an additional 1,735 shares in the last quarter. Swiss National Bank boosted its stake 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 acquiring an additional 600 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 acquiring an additional 20,780 shares in the last quarter. Van ECK Associates Corp boosted its stake 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 acquiring an additional 4,630 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake 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 acquiring 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.