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

Academy Sports and Outdoors (NASDAQ:ASO) had its target price cut by equities research analysts at Wedbush from $65.00 to $60.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 27.04% from the stock’s current price.

ASO has been the subject of a number of other reports. Truist Financial raised their price objective on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird dropped their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday. Citigroup dropped their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Morgan Stanley dropped their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Oppenheimer dropped their price objective on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.38.

Academy Sports and Outdoors Trading Down 0.4 %

Shares of Academy Sports and Outdoors stock opened at $47.23 on Friday. Academy Sports and Outdoors has a 12-month low of $43.16 and a 12-month high of $68.96. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.28 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25. The company has a 50-day moving average of $51.09 and a two-hundred day moving average of $53.15.

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

Hedge Funds Weigh In On Academy Sports and Outdoors

Hedge funds have recently made changes to their positions in the stock. TD Private Client Wealth LLC acquired a new position in shares of Academy Sports and Outdoors in the 3rd quarter valued at $40,000. AlphaQuest LLC boosted its holdings in shares of Academy Sports and Outdoors by 240.8% in the 4th quarter. AlphaQuest LLC now owns 702 shares of the company’s stock valued at $40,000 after purchasing an additional 496 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Academy Sports and Outdoors by 1,307.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 985 shares of the company’s stock valued at $57,000 after purchasing an additional 915 shares during the last quarter. LGT Financial Advisors LLC lifted its holdings in shares of Academy Sports and Outdoors by 1,041.7% during the 4th quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company’s stock valued at $63,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Academy Sports and Outdoors by 242.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,190 shares of the company’s stock valued at $69,000 after acquiring an additional 843 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.