Academy Sports and Outdoors (NASDAQ:ASO) Stock Rating Reaffirmed by Wells Fargo & Company

Wells Fargo & Company reissued their equal weight rating on shares of Academy Sports and Outdoors (NASDAQ:ASO) in a research report released on Wednesday morning, Benzinga reports. They currently have a $55.00 target price on the stock, down from their prior target price of $80.00.

Several other research analysts also recently weighed in on ASO. Bank of America downgraded shares of Academy Sports and Outdoors from a buy rating to a neutral rating and reduced their price target for the stock from $75.00 to $63.00 in a research report on Tuesday, June 11th. Robert W. Baird reduced their price target on shares of Academy Sports and Outdoors from $80.00 to $68.00 and set an outperform rating for the company in a research report on Wednesday. Wedbush restated an outperform rating and set a $80.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, June 5th. Jefferies Financial Group started coverage on shares of Academy Sports and Outdoors in a research note on Friday, April 12th. They set a buy rating and a $85.00 price objective for the company. Finally, Morgan Stanley dropped their price objective on shares of 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. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Academy Sports and Outdoors currently has an average rating of Moderate Buy and a consensus target price of $66.27.

Academy Sports and Outdoors Trading Up 0.8 %

NASDAQ ASO opened at $51.79 on Wednesday. The company has a market capitalization of $3.74 billion, a PE ratio of 7.92, a P/E/G ratio of 0.84 and a beta of 1.37. The company has a fifty day moving average of $56.60 and a 200 day moving average of $62.18. Academy Sports and Outdoors has a 1 year low of $42.83 and a 1 year high of $75.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.51.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Tuesday, June 11th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Research analysts forecast that Academy Sports and Outdoors will post 6.57 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, June 20th. Academy Sports and Outdoors’s payout ratio is currently 6.73%.

Insider Activity

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total value of $72,000.00. Following the completion of the sale, the director now owns 7,870 shares in the company, valued at $472,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASO. New York State Common Retirement Fund grew its holdings in shares of Academy Sports and Outdoors by 5.8% during the third quarter. New York State Common Retirement Fund now owns 31,739 shares of the company’s stock worth $1,500,000 after buying an additional 1,735 shares in the last quarter. Swiss National Bank grew its holdings in shares of Academy Sports and Outdoors by 0.4% during the third quarter. Swiss National Bank now owns 168,100 shares of the company’s stock worth $7,946,000 after buying an additional 600 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Academy Sports and Outdoors by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 661,316 shares of the company’s stock worth $31,260,000 after buying an additional 20,780 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Academy Sports and Outdoors by 42.8% during the third quarter. Van ECK Associates Corp now owns 15,447 shares of the company’s stock worth $730,000 after buying an additional 4,630 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Academy Sports and Outdoors by 12.8% during the third quarter. Deutsche Bank AG now owns 40,470 shares of the company’s stock worth $1,913,000 after buying an additional 4,605 shares in 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.