Academy Sports and Outdoors (NASDAQ:ASO) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Academy Sports and Outdoors (NASDAQ:ASO) from an overweight rating to a neutral rating in a report issued on Monday morning, MarketBeat reports. They currently have $53.00 price target on the stock, down from their prior price target of $76.00.

A number of other research analysts have also commented on the company. Morgan Stanley cut their target price on Academy Sports and Outdoors from $65.00 to $60.00 and set an equal weight rating for the company in a research note on Wednesday, June 12th. Robert W. Baird cut their target price on Academy Sports and Outdoors from $80.00 to $68.00 and set an outperform rating for the company in a research note on Wednesday, June 12th. Jefferies Financial Group initiated coverage on Academy Sports and Outdoors in a research note on Friday, April 12th. They issued a buy rating and a $85.00 target price for the company. Evercore ISI upped their target price on Academy Sports and Outdoors from $60.00 to $70.00 and gave the company an outperform rating in a research note on Thursday, June 20th. Finally, Truist Financial lowered their price target on Academy Sports and Outdoors from $75.00 to $73.00 and set a buy rating on the stock in a research report on Monday, June 10th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $65.60.

Academy Sports and Outdoors Stock Performance

Shares of ASO stock traded down $0.08 during trading hours on Monday, reaching $48.71. 1,282,620 shares of the company’s stock were exchanged, compared to its average volume of 1,476,715. 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 $3.51 billion, a P/E ratio of 7.51, a P/E/G ratio of 0.87 and a beta of 1.34. The business has a fifty day moving average price of $53.72 and a 200-day moving average price of $60.20. The company has a quick ratio of 0.41, a current ratio of 1.62 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts predict that Academy Sports and Outdoors will post 6.35 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Thursday, June 20th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, June 20th. Academy Sports and Outdoors’s dividend payout ratio is 6.73%.

Insider Activity at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 625 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total value of $33,906.25. Following the transaction, the director now owns 10,106 shares in the company, valued at $548,250.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. raised its position in shares of Academy Sports and Outdoors by 86.2% during the second quarter. Cullen Frost Bankers Inc. now owns 7,040 shares of the company’s stock worth $375,000 after purchasing an additional 3,260 shares during the period. Pacifica Capital Investments LLC raised its position in shares of Academy Sports and Outdoors by 60.1% during the second quarter. Pacifica Capital Investments LLC now owns 350,231 shares of the company’s stock worth $18,650,000 after purchasing an additional 131,444 shares during the period. Arizona State Retirement System raised its position in shares of Academy Sports and Outdoors by 2.2% during the second quarter. Arizona State Retirement System now owns 20,830 shares of the company’s stock worth $1,109,000 after purchasing an additional 451 shares during the period. Victory Capital Management Inc. raised its position in shares of Academy Sports and Outdoors by 16.7% during the second quarter. Victory Capital Management Inc. now owns 45,094 shares of the company’s stock worth $2,401,000 after purchasing an additional 6,469 shares during the period. Finally, TD Asset Management Inc raised its position in shares of Academy Sports and Outdoors by 49.7% during the second quarter. TD Asset Management Inc now owns 59,000 shares of the company’s stock worth $3,142,000 after purchasing an additional 19,600 shares during the period.

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.