Wedbush Cuts Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $60.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target reduced by Wedbush from $65.00 to $60.00 in a research note released on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently commented on ASO. Oppenheimer reduced their target price on Academy Sports and Outdoors from $85.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday. TD Cowen increased their price objective on Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Telsey Advisory Group reiterated an “outperform” rating and set a $60.00 price objective on shares of Academy Sports and Outdoors in a research report on Monday, March 17th. UBS Group reduced their price objective on Academy Sports and Outdoors from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Robert W. Baird reduced their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.38.

Academy Sports and Outdoors Price Performance

Academy Sports and Outdoors stock opened at $47.23 on Friday. Academy Sports and Outdoors has a 52 week low of $43.16 and a 52 week high of $68.96. The business has a 50-day simple moving average of $51.09 and a 200 day simple moving average of $53.16. The company has a quick ratio of 0.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 1.02 and a beta of 1.25.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Thursday, March 20th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.82 by $0.14. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the business earned $2.21 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. On average, research analysts forecast that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, March 25th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.10%. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, March 25th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 8.54%.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several institutional investors and hedge funds have recently bought and sold shares of ASO. FMR LLC lifted its holdings in Academy Sports and Outdoors by 15.3% in the 3rd quarter. FMR LLC now owns 10,739,463 shares of the company’s stock worth $626,755,000 after buying an additional 1,422,971 shares during the period. William Blair Investment Management LLC purchased a new stake in Academy Sports and Outdoors in the 4th quarter worth approximately $52,402,000. Norges Bank purchased a new stake in Academy Sports and Outdoors in the 4th quarter worth approximately $47,436,000. Stephens Investment Management Group LLC lifted its holdings in Academy Sports and Outdoors by 331.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 959,680 shares of the company’s stock worth $55,210,000 after buying an additional 737,212 shares during the period. Finally, Hood River Capital Management LLC purchased a new stake in Academy Sports and Outdoors in the 4th quarter worth approximately $42,320,000.

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.