Truist Financial Downgrades Academy Sports and Outdoors (NASDAQ:ASO) to Hold

Truist Financial downgraded shares of Academy Sports and Outdoors (NASDAQ:ASO) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. Truist Financial currently has $50.00 price target on the stock, down from their previous price target of $63.00.

Several other equities analysts also recently weighed in on the stock. Evercore ISI downgraded shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and dropped their target price for the company from $65.00 to $60.00 in a report on Thursday, October 3rd. Wedbush reiterated an “outperform” rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. JPMorgan Chase & Co. downgraded shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $76.00 to $53.00 in a report on Monday, August 5th. Wells Fargo & Company raised their target price on shares of Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.57.

Academy Sports and Outdoors Stock Down 1.2 %

ASO stock opened at $46.03 on Tuesday. Academy Sports and Outdoors has a one year low of $44.73 and a one year high of $75.73. The stock has a market capitalization of $3.24 billion, a PE ratio of 7.10, a price-to-earnings-growth ratio of 0.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66. The company has a fifty day moving average of $54.62 and a 200-day moving average of $54.13.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business earned $2.01 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts expect that Academy Sports and Outdoors will post 6.02 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, September 19th were paid a $0.11 dividend. The ex-dividend date was Thursday, September 19th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.96%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.79%.

Insider Buying and Selling

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the completion of the transaction, the director now owns 8,906 shares in the company, valued at approximately $552,172. This represents a 11.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On Academy Sports and Outdoors

Institutional investors have recently bought and sold shares of the stock. UniSuper Management Pty Ltd acquired a new stake in Academy Sports and Outdoors during the 1st quarter worth about $1,021,000. Russell Investments Group Ltd. raised its holdings in Academy Sports and Outdoors by 75.0% during the 1st quarter. Russell Investments Group Ltd. now owns 39,589 shares of the company’s stock worth $2,674,000 after buying an additional 16,970 shares during the period. Public Sector Pension Investment Board raised its holdings in Academy Sports and Outdoors by 6.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 162,406 shares of the company’s stock worth $8,648,000 after buying an additional 10,416 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Academy Sports and Outdoors by 17.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 808,250 shares of the company’s stock valued at $43,040,000 after purchasing an additional 121,115 shares during the period. Finally, Boston Partners acquired a new position in shares of Academy Sports and Outdoors in the 1st quarter valued at about $1,000,000.

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.