Truist Financial Boosts Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $63.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target increased by Truist Financial from $60.00 to $63.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Loop Capital reissued a buy rating and set a $77.00 price target on shares of Academy Sports and Outdoors in a report on Monday, July 1st. Wedbush reaffirmed an outperform rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday. Morgan Stanley reduced their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an equal weight rating on the stock in a research note on Wednesday, June 12th. Bank of America cut Academy Sports and Outdoors from a buy rating to a neutral rating and cut their price target for the company from $75.00 to $63.00 in a report on Tuesday, June 11th. Finally, Robert W. Baird lowered their price target on shares of Academy Sports and Outdoors from $80.00 to $68.00 and set an outperform rating for the company in a report on Wednesday, June 12th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $62.86.

Academy Sports and Outdoors Stock Performance

NASDAQ:ASO opened at $59.01 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors has a 1 year low of $42.83 and a 1 year high of $75.73. The firm’s fifty day simple moving average is $53.61 and its 200 day simple moving average is $57.68. The firm has a market capitalization of $4.15 billion, a PE ratio of 9.02, a PEG ratio of 0.94 and a beta of 1.34.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the company earned $2.01 EPS. Academy Sports and Outdoors’s revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Academy Sports and Outdoors will post 6.25 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.75%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.73%.

Insider Activity at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 625 shares of Academy Sports and Outdoors stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total value of $33,906.25. Following the sale, the director now owns 10,106 shares of the company’s stock, valued at $548,250.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several large investors have recently made changes to their positions in ASO. Jones Financial Companies Lllp acquired a new position in Academy Sports and Outdoors during the fourth quarter worth $26,000. Headlands Technologies LLC bought a new position in shares of Academy Sports and Outdoors in the 1st quarter valued at about $35,000. Future Financial Wealth Managment LLC acquired a new position in shares of Academy Sports and Outdoors during the 1st quarter worth about $68,000. EverSource Wealth Advisors LLC raised its holdings in shares of Academy Sports and Outdoors by 517.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,050 shares of the company’s stock valued at $69,000 after purchasing an additional 880 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in Academy Sports and Outdoors in the 4th quarter valued at about $73,000.

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.