Wedbush Reiterates “Outperform” Rating for Academy Sports and Outdoors (NASDAQ:ASO)

Academy Sports and Outdoors (NASDAQ:ASO)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a report issued on Wednesday,RTT News reports. They presently have a $65.00 target price on the stock. Wedbush’s price target would suggest a potential upside of 16.32% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. TD Cowen raised their price objective on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Telsey Advisory Group dropped their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Robert W. Baird dropped their price target on shares of Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday. Evercore ISI cut shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $65.00 to $60.00 in a research report on Thursday, October 3rd. Finally, Loop Capital reiterated a “buy” rating and set a $77.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $61.07.

Academy Sports and Outdoors Trading Up 6.3 %

Academy Sports and Outdoors stock traded up $3.30 during midday trading on Wednesday, hitting $55.88. 1,079,989 shares of the stock were exchanged, compared to its average volume of 1,459,422. Academy Sports and Outdoors has a fifty-two week low of $44.73 and a fifty-two week high of $75.73. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 0.97 and a beta of 1.31. The stock’s 50-day simple moving average is $51.52 and its 200 day simple moving average is $53.47. 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 (NASDAQ:ASO) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.30). Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. Academy Sports and Outdoors’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities analysts anticipate that Academy Sports and Outdoors will post 6 EPS for the current year.

Insider Activity

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value of $74,400.00. Following the sale, the director now directly owns 8,906 shares of the company’s stock, valued at approximately $552,172. This represents a 11.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several hedge funds have recently modified their holdings of ASO. Cetera Advisors LLC acquired a new stake in shares of Academy Sports and Outdoors during the 1st quarter worth about $262,000. CWM LLC boosted its stake in shares of Academy Sports and Outdoors by 36.9% during the 2nd quarter. CWM LLC now owns 4,284 shares of the company’s stock worth $228,000 after purchasing an additional 1,155 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Academy Sports and Outdoors by 253.1% during the 2nd quarter. SG Americas Securities LLC now owns 14,757 shares of the company’s stock worth $786,000 after purchasing an additional 10,578 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Academy Sports and Outdoors by 3.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock worth $409,000 after purchasing an additional 269 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its position in shares of Academy Sports and Outdoors by 17.3% in the second quarter. AlphaMark Advisors LLC now owns 5,412 shares of the company’s stock worth $288,000 after acquiring an additional 799 shares during 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.