Academy Sports and Outdoors (NASDAQ:ASO) Lowered to “In-Line” at Evercore ISI

Evercore ISI downgraded shares of Academy Sports and Outdoors (NASDAQ:ASO) from an outperform rating to an in-line rating in a report released on Thursday morning, MarketBeat reports. The brokerage currently has $60.00 price objective on the stock, down from their previous price objective of $65.00.

Several other research firms have also commented on ASO. Telsey Advisory Group reissued an outperform rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a report on Thursday, September 5th. Wells Fargo & Company raised their target price on Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an equal weight rating in a research report on Wednesday, September 11th. TD Cowen upped their price target on Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a hold rating in a report on Wednesday, September 11th. UBS Group cut shares of Academy Sports and Outdoors from a buy rating to a neutral rating and cut their price objective for the stock from $81.00 to $58.00 in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. downgraded shares of Academy Sports and Outdoors from an overweight rating to a neutral rating and reduced their price objective for the stock from $76.00 to $53.00 in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Academy Sports and Outdoors has an average rating of Moderate Buy and an average price target of $62.50.

Academy Sports and Outdoors Trading Up 4.0 %

ASO opened at $57.13 on Thursday. The business has a fifty day moving average price of $55.11 and a 200 day moving average price of $56.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 0.41. Academy Sports and Outdoors has a 12 month low of $42.83 and a 12 month high of $75.73. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 1.16 and a beta of 1.34.

Academy Sports and Outdoors (NASDAQ:ASO) last released its earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.07. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm earned $2.01 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Sell-side analysts expect that Academy Sports and Outdoors will post 6.03 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 19th. Academy Sports and Outdoors’s payout ratio is 6.73%.

Insider Transactions at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total value of $74,400.00. Following the completion of the transaction, the director now directly owns 8,906 shares of the company’s stock, valued at $552,172. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total value of $33,906.25. Following the sale, the director now owns 10,106 shares of the company’s stock, valued at $548,250.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total value of $74,400.00. Following the transaction, the director now owns 8,906 shares of the company’s stock, valued at $552,172. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several hedge funds have recently bought and sold shares of the stock. Verition Fund Management LLC grew its holdings in shares of Academy Sports and Outdoors by 1,014.0% during the fourth quarter. Verition Fund Management LLC now owns 213,542 shares of the company’s stock worth $14,094,000 after buying an additional 194,373 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Academy Sports and Outdoors by 20.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,010,989 shares of the company’s stock valued at $66,725,000 after acquiring an additional 172,783 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in shares of Academy Sports and Outdoors during the 1st quarter worth $1,021,000. Point72 Asset Management L.P. boosted its holdings in shares of Academy Sports and Outdoors by 36.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock worth $137,878,000 after purchasing an additional 559,414 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Academy Sports and Outdoors by 75.0% in the first quarter. Russell Investments Group Ltd. now owns 39,589 shares of the company’s stock valued at $2,674,000 after purchasing an additional 16,970 shares during the period.

Academy Sports and Outdoors Company Profile

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.