Wells Fargo & Company Raises Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $51.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target raised by Wells Fargo & Company from $46.00 to $51.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Loop Capital reissued a buy rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a research report on Wednesday. Bank of America downgraded shares of Academy Sports and Outdoors from a buy rating to a neutral rating and reduced their target price for the stock from $75.00 to $63.00 in a report on Tuesday, June 11th. Wedbush restated an outperform rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday. Telsey Advisory Group reaffirmed an outperform rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a report on Thursday, September 5th. Finally, TD Cowen upped their target price on Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a hold rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $62.86.

Academy Sports and Outdoors Trading Up 5.6 %

ASO opened at $59.01 on Wednesday. The company has a 50-day simple moving average of $53.61 and a 200 day simple moving average of $57.57. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.94 and a beta of 1.34. Academy Sports and Outdoors has a twelve month low of $42.83 and a twelve month high of $75.73. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the business posted $2.01 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Analysts predict that Academy Sports and Outdoors will post 6.25 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be issued a $0.11 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.44 annualized dividend and a yield of 0.75%. Academy Sports and Outdoors’s payout ratio is 6.73%.

Insider Transactions at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of the 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 completion of the transaction, the director now owns 10,106 shares of the company’s stock, valued at $548,250.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in Academy Sports and Outdoors by 52.3% in the fourth quarter. Victory Capital Management Inc. now owns 46,454 shares of the company’s stock valued at $3,066,000 after buying an additional 15,955 shares in the last quarter. Verition Fund Management LLC lifted its holdings in Academy Sports and Outdoors by 1,014.0% in the 4th quarter. Verition Fund Management LLC now owns 213,542 shares of the company’s stock valued at $14,094,000 after purchasing an additional 194,373 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Academy Sports and Outdoors by 20.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,010,989 shares of the company’s stock worth $66,725,000 after purchasing an additional 172,783 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in Academy Sports and Outdoors during the first quarter worth about $1,021,000. Finally, Point72 Asset Management L.P. boosted its stake in Academy Sports and Outdoors by 36.6% in the 4th quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock worth $137,878,000 after buying an additional 559,414 shares during 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.