Evercore ISI Cuts Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $53.00

Academy Sports and Outdoors (NASDAQ:ASO) had its target price trimmed by Evercore ISI from $54.00 to $53.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an in-line rating on the stock.

Several other research analysts have also issued reports on the stock. Truist Financial increased their price target on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. B. Riley dropped their target price on Academy Sports and Outdoors from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 21st. UBS Group decreased their price target on Academy Sports and Outdoors from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Morgan Stanley lowered their price target on Academy Sports and Outdoors from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Finally, Wedbush cut their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Academy Sports and Outdoors has an average rating of “Moderate Buy” and an average target price of $59.69.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ:ASO opened at $46.60 on Tuesday. The firm has a market capitalization of $3.12 billion, a PE ratio of 7.65, a PEG ratio of 1.02 and a beta of 1.25. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors has a 1-year low of $43.16 and a 1-year high of $66.31. The business’s 50 day moving average is $50.33 and its 200-day moving average is $52.80.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings results on Thursday, March 20th. The company reported $1.96 earnings per share for the quarter, topping 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 firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. The business’s revenue was down 6.6% compared to the same quarter last year. Sell-side analysts predict that Academy Sports and Outdoors will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $0.13 per share. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 25th. This represents a $0.52 annualized dividend and a yield of 1.12%. Academy Sports and Outdoors’s dividend payout ratio is currently 9.01%.

Institutional Investors Weigh In On Academy Sports and Outdoors

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Academy Sports and Outdoors by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,699,015 shares of the company’s stock valued at $212,807,000 after acquiring an additional 404,863 shares during the last quarter. Pacer Advisors Inc. lifted its position in Academy Sports and Outdoors by 8.1% during the 4th quarter. Pacer Advisors Inc. now owns 2,649,276 shares of the company’s stock valued at $152,413,000 after purchasing an additional 197,384 shares during the period. Geode Capital Management LLC boosted its stake in shares of Academy Sports and Outdoors by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company’s stock valued at $118,092,000 after purchasing an additional 50,715 shares during the last quarter. LSV Asset Management grew its position in shares of Academy Sports and Outdoors by 14.2% during the 4th quarter. LSV Asset Management now owns 1,940,041 shares of the company’s stock worth $111,611,000 after buying an additional 241,100 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in shares of Academy Sports and Outdoors by 1.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,464,630 shares of the company’s stock worth $84,260,000 after buying an additional 14,997 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.