Academy Sports and Outdoors (NASDAQ:ASO) Announces Quarterly Earnings Results

Academy Sports and Outdoors (NASDAQ:ASO) issued its quarterly earnings results on Monday. The company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $1.05, MarketWatch Earnings reports. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.51 billion. The company’s revenue was up 39.1% on a year-over-year basis.

Shares of ASO stock opened at $40.38 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 1.21 and a debt-to-equity ratio of 0.70. Academy Sports and Outdoors has a one year low of $12.05 and a one year high of $40.48. The stock’s 50-day moving average is $33.04. The company has a market capitalization of $3.79 billion and a PE ratio of 10.51.

In other news, major shareholder 2006 Allstar Blocker L.P. Kkr sold 7,794,640 shares of the stock in a transaction dated Wednesday, April 7th. The shares were sold at an average price of $28.48, for a total transaction of $221,991,347.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP William S. Ennis sold 238,094 shares of the stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $25.50, for a total transaction of $6,071,397.00. Following the transaction, the senior vice president now directly owns 225,958 shares in the company, valued at approximately $5,761,929. The disclosure for this sale can be found here. Insiders have sold 21,163,741 shares of company stock worth $634,733,291 in the last ninety days. Corporate insiders own 1.83% of the company’s stock.

ASO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on Academy Sports and Outdoors from $40.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday. Stephens upped their price objective on Academy Sports and Outdoors from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Investment Research upgraded Academy Sports and Outdoors from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, March 24th. Credit Suisse Group upped their price objective on Academy Sports and Outdoors from $39.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Loop Capital upped their price target on shares of Academy Sports and Outdoors from $31.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $33.38.

Academy Sports and Outdoors Company Profile

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; baseball, football, basketball, soccer, golf, racket sports, volleyball, fitness equipment, fitness accessories, and nutrition; and patio equipment, outdoor cooking, wheeled goods, trampolines, play sets, watersports, pet equipment, electronics, and watches.

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