Wells Fargo & Company Cuts Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $46.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target cut by Wells Fargo & Company from $55.00 to $46.00 in a report issued on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently commented on ASO. Evercore ISI boosted their price target on shares of Academy Sports and Outdoors from $60.00 to $70.00 and gave the stock an outperform rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. cut shares of Academy Sports and Outdoors from an overweight rating to a neutral rating and cut their price target for the stock from $76.00 to $53.00 in a research report on Monday, August 5th. Bank of America cut shares of Academy Sports and Outdoors from a buy rating to a neutral rating and cut their price target for the stock from $75.00 to $63.00 in a research report on Tuesday, June 11th. Loop Capital reissued a buy rating and set a $77.00 price target on shares of Academy Sports and Outdoors in a research report on Monday, July 1st. Finally, UBS Group cut shares of Academy Sports and Outdoors from a buy rating to a neutral rating and cut their price target for the stock from $81.00 to $58.00 in a research report on Wednesday, June 12th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $64.73.

Academy Sports and Outdoors Price Performance

Shares of ASO stock opened at $50.67 on Monday. Academy Sports and Outdoors has a 12-month low of $42.83 and a 12-month high of $75.73. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 0.87 and a beta of 1.34. The company has a quick ratio of 0.41, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $52.71 and a 200-day moving average of $59.49.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its earnings results on Tuesday, June 11th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. Academy Sports and Outdoors’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. On average, equities research analysts forecast that Academy Sports and Outdoors will post 6.35 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Thursday, June 20th were given a dividend of $0.11 per share. The ex-dividend date was Thursday, June 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.87%. Academy Sports and Outdoors’s dividend payout ratio is 6.73%.

Insider Buying and Selling

In related news, Director Jeffrey C. Tweedy sold 625 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total transaction of $33,906.25. Following the sale, the director now owns 10,106 shares in the company, valued at approximately $548,250.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASO. Trust Investment Advisors raised its stake in shares of Academy Sports and Outdoors by 1.2% during the fourth quarter. Trust Investment Advisors now owns 14,792 shares of the company’s stock valued at $976,000 after acquiring an additional 172 shares during the last quarter. Meritage Portfolio Management raised its stake in shares of Academy Sports and Outdoors by 2.1% during the fourth quarter. Meritage Portfolio Management now owns 8,337 shares of the company’s stock valued at $550,000 after acquiring an additional 174 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Academy Sports and Outdoors by 3.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock valued at $548,000 after acquiring an additional 250 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Academy Sports and Outdoors by 4.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,980 shares of the company’s stock valued at $395,000 after acquiring an additional 265 shares during the last quarter. Finally, Great Valley Advisor Group Inc. raised its stake in shares of Academy Sports and Outdoors by 3.6% during the second quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock valued at $409,000 after acquiring an additional 269 shares during 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.