Oppenheimer Cuts Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $70.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target reduced by Oppenheimer from $85.00 to $70.00 in a research note published on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

ASO has been the subject of a number of other research reports. Wedbush reissued an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday, December 11th. Morgan Stanley lowered their price objective on Academy Sports and Outdoors from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday. UBS Group lowered their price target on shares of Academy Sports and Outdoors from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Citigroup cut their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Finally, B. Riley lowered their target price on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Academy Sports and Outdoors currently has a consensus rating of “Moderate Buy” and an average price target of $60.38.

Academy Sports and Outdoors Trading Down 0.4 %

Shares of ASO stock opened at $47.23 on Friday. 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 company has a market capitalization of $3.28 billion, a P/E ratio of 7.76, a P/E/G ratio of 1.02 and a beta of 1.25. Academy Sports and Outdoors has a 12-month low of $43.16 and a 12-month high of $68.96. The firm has a 50-day moving average price of $51.09 and a 200 day moving average price of $53.15.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings data on Thursday, March 20th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.14. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, March 25th. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. Academy Sports and Outdoors’s dividend payout ratio (DPR) is 8.54%.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in Academy Sports and Outdoors by 15.3% in the third quarter. Victory Capital Management Inc. now owns 51,988 shares of the company’s stock valued at $3,034,000 after acquiring an additional 6,894 shares during the last quarter. KBC Group NV grew its stake in shares of Academy Sports and Outdoors by 24.3% during the 3rd quarter. KBC Group NV now owns 2,084 shares of the company’s stock worth $122,000 after acquiring an additional 408 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Academy Sports and Outdoors in the 3rd quarter worth about $255,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Academy Sports and Outdoors during the third quarter valued at about $1,538,000. Finally, Intech Investment Management LLC bought a new stake in Academy Sports and Outdoors during the 3rd quarter valued at $1,167,000.

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.