Academy Sports and Outdoors (NASDAQ:ASO) Sees Strong Trading Volume

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) saw strong trading volume on Wednesday . 63,515 shares were traded during trading, a decline of 97% from the previous session’s volume of 2,176,861 shares.The stock last traded at $46.75 and had previously closed at $45.31.

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Academy Sports and Outdoors in a report on Thursday, July 22nd. They set a “neutral” rating and a $40.00 price objective on the stock. Loop Capital lifted their price target on shares of Academy Sports and Outdoors from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, September 10th. UBS Group lifted their price target on shares of Academy Sports and Outdoors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, September 10th. Credit Suisse Group lifted 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 report on Friday, September 10th. Finally, Bank of America lifted their price target on shares of Academy Sports and Outdoors from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, September 10th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $51.67.

The stock has a market capitalization of $4.40 billion and a PE ratio of 8.18. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.39 and a quick ratio of 0.51. The business’s fifty day moving average price is $39.17 and its two-hundred day moving average price is $35.03.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings data on Wednesday, September 8th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.92. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.67 billion. Academy Sports and Outdoors had a net margin of 8.22% and a return on equity of 51.37%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Academy Sports and Outdoors, Inc. will post 4.98 earnings per share for the current fiscal year.

In related news, major shareholder Kkr Group Partnership L.P. sold 10,100,000 shares of the business’s stock in a transaction on Monday, July 12th. The shares were sold at an average price of $38.30, for a total transaction of $386,830,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael P. Mullican sold 50,000 shares of the business’s stock in a transaction on Friday, June 25th. The shares were sold at an average price of $42.52, for a total transaction of $2,126,000.00. Following the transaction, the chief financial officer now owns 102,001 shares of the company’s stock, valued at $4,337,082.52. The disclosure for this sale can be found here. Insiders have sold 10,258,614 shares of company stock worth $393,410,122 over the last three months. Corporate insiders own 1.83% of the company’s stock.

Institutional investors have recently modified their holdings of the business. FMR LLC raised its position in shares of Academy Sports and Outdoors by 244.4% during the 2nd quarter. FMR LLC now owns 11,277,844 shares of the company’s stock worth $465,099,000 after purchasing an additional 8,002,911 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Academy Sports and Outdoors by 109.8% during the 2nd quarter. Vanguard Group Inc. now owns 5,807,896 shares of the company’s stock worth $239,518,000 after purchasing an additional 3,040,145 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Academy Sports and Outdoors by 4,927.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,571,236 shares of the company’s stock worth $69,398,000 after purchasing an additional 2,520,087 shares during the last quarter. BlackRock Inc. raised its position in shares of Academy Sports and Outdoors by 86.0% during the 2nd quarter. BlackRock Inc. now owns 3,898,547 shares of the company’s stock worth $160,778,000 after purchasing an additional 1,802,299 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Academy Sports and Outdoors by 1,107.8% during the 2nd quarter. Morgan Stanley now owns 1,706,387 shares of the company’s stock worth $70,370,000 after purchasing an additional 1,565,102 shares during the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

Academy Sports and Outdoors Company Profile (NASDAQ:ASO)

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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