Academy Sports and Outdoors (NASDAQ:ASO) Shares Down 5.3% – Here’s Why

Academy Sports and Outdoors, Inc. (NASDAQ:ASO)’s share price fell 5.3% on Friday . The company traded as low as $35.71 and last traded at $35.73. 117,706 shares were traded during trading, a decline of 93% from the average session volume of 1,605,771 shares. The stock had previously closed at $37.72.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ASO shares. Evercore ISI reduced their price objective on Academy Sports and Outdoors from $54.00 to $53.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Morgan Stanley reduced their price target on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Oppenheimer dropped their price objective on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Wedbush reduced their target price 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, March 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of Academy Sports and Outdoors from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Academy Sports and Outdoors currently has an average rating of “Moderate Buy” and an average target price of $58.63.

Academy Sports and Outdoors Trading Down 3.0 %

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 firm has a 50-day moving average price of $47.18 and a 200-day moving average price of $51.34. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 1.02 and a beta of 1.26.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly 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 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 analysts’ expectations of $1.67 billion. During the same period in the previous year, the business earned $2.21 earnings per share. Academy Sports and Outdoors’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, sell-side analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, March 25th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.42%. This is a boost 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 9.01%.

Institutional Investors Weigh In On Academy Sports and Outdoors

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TD Private Client Wealth LLC purchased a new stake in Academy Sports and Outdoors during the third quarter valued at about $40,000. AlphaQuest LLC raised its holdings in shares of Academy Sports and Outdoors by 240.8% during the fourth quarter. AlphaQuest LLC now owns 702 shares of the company’s stock valued at $40,000 after acquiring an additional 496 shares during the period. Parkside Financial Bank & Trust lifted its position 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 acquiring an additional 915 shares in the last quarter. LGT Financial Advisors LLC boosted its stake in Academy Sports and Outdoors by 1,041.7% in the 4th quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company’s stock worth $63,000 after purchasing an additional 1,000 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in 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 worth $69,000 after purchasing an additional 843 shares in the last quarter.

About Academy Sports and Outdoors

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.