Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Short Interest Up 8.7% in October

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 6,390,000 shares, an increase of 8.7% from the September 30th total of 5,880,000 shares. Based on an average daily volume of 1,360,000 shares, the days-to-cover ratio is presently 4.7 days. Approximately 9.2% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company lifted their target price on Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Evercore ISI lowered shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and lowered their price objective for the company from $65.00 to $60.00 in a research note on Thursday, October 3rd. Truist Financial increased their target price on shares of Academy Sports and Outdoors from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 price target on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a research note on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.50.

Academy Sports and Outdoors Stock Performance

Shares of ASO opened at $51.31 on Thursday. The firm has a market capitalization of $3.61 billion, a P/E ratio of 7.92, a P/E/G ratio of 1.04 and a beta of 1.34. Academy Sports and Outdoors has a 52 week low of $43.62 and a 52 week high of $75.73. The stock has a 50 day moving average price of $55.89 and a two-hundred day moving average price of $54.97. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) 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 business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company posted $2.01 earnings per share. Academy Sports and Outdoors’s revenue was down 2.2% compared to the same quarter last year. Equities analysts forecast that Academy Sports and Outdoors will post 6.03 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, September 19th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.86%. The ex-dividend date was Thursday, September 19th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.79%.

Insiders Place Their Bets

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value of $74,400.00. Following the sale, the director now directly owns 8,906 shares of the company’s stock, valued at approximately $552,172. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On Academy Sports and Outdoors

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Academy Sports and Outdoors by 4.6% in the third quarter. CWM LLC now owns 4,480 shares of the company’s stock valued at $261,000 after acquiring an additional 196 shares in the last quarter. Daymark Wealth Partners LLC grew its stake in Academy Sports and Outdoors by 1.3% in the 3rd quarter. Daymark Wealth Partners LLC now owns 15,403 shares of the company’s stock valued at $899,000 after purchasing an additional 203 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Academy Sports and Outdoors by 3.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock valued at $548,000 after purchasing an additional 250 shares during the last quarter. Trust Investment Advisors raised its stake in shares of Academy Sports and Outdoors by 1.8% during the 2nd quarter. Trust Investment Advisors now owns 15,030 shares of the company’s stock worth $800,000 after purchasing an additional 266 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its holdings in shares of Academy Sports and Outdoors by 3.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock worth $409,000 after buying an additional 269 shares during the last quarter.

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.