Academy Sports and Outdoors (NASDAQ:ASO) Releases Earnings Results

Academy Sports and Outdoors (NASDAQ:ASO) issued its earnings results on Wednesday. The company reported $2.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.92, MarketWatch Earnings reports. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.67 billion. Academy Sports and Outdoors’s revenue for the quarter was up 11.5% compared to the same quarter last year.

Shares of NASDAQ ASO traded up $0.51 during mid-day trading on Friday, reaching $44.58. The company had a trading volume of 76,119 shares, compared to its average volume of 2,169,150. The stock has a fifty day moving average of $38.91 and a two-hundred day moving average of $34.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.51 and a current ratio of 1.39. The company has a market capitalization of $4.11 billion and a price-to-earnings ratio of 12.02. Academy Sports and Outdoors has a 12-month low of $12.05 and a 12-month high of $45.92.

A number of brokerages have weighed in on ASO. The Goldman Sachs Group began coverage on shares of Academy Sports and Outdoors in a report on Thursday, July 22nd. They set a “neutral” rating and a $40.00 target price on the stock. Guggenheim upped their price target on shares of Academy Sports and Outdoors from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday. Stephens upped their price target on shares of Academy Sports and Outdoors from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 9th. Zacks Investment Research upgraded shares of Academy Sports and Outdoors from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Thursday. Finally, Credit Suisse Group upped their price target on shares of Academy Sports and Outdoors from $44.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $51.67.

In related news, SVP William S. Ennis sold 51,929 shares of the stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $42.35, for a total value of $2,199,193.15. Following the transaction, the senior vice president now owns 31,746 shares in the company, valued at $1,344,443.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Samuel J. Johnson sold 56,685 shares of the stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $39.78, for a total value of $2,254,929.30. Following the completion of the transaction, the executive vice president now owns 153,760 shares in the company, valued at approximately $6,116,572.80. The disclosure for this sale can be found here. Insiders sold 10,258,614 shares of company stock valued at $393,410,122 over the last three months. 1.83% of the stock is owned by insiders.

A hedge fund recently raised its stake in Academy Sports and Outdoors stock. Morgan Stanley raised its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 1,107.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,706,387 shares of the company’s stock after purchasing an additional 1,565,102 shares during the period. Morgan Stanley owned 1.85% of Academy Sports and Outdoors worth $70,370,000 as of its most recent SEC filing. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

About Academy Sports and Outdoors

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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