Academy Sports and Outdoors (NASDAQ:ASO) Price Target Cut to $65.00 by Analysts at B. Riley

Academy Sports and Outdoors (NASDAQ:ASO) had its target price lowered by B. Riley from $70.00 to $65.00 in a report released on Friday morning,Benzinga reports. B. Riley currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Citigroup lowered their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Truist Financial raised their target price on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. UBS Group lowered their target price on shares of Academy Sports and Outdoors from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday. TD Cowen raised their target price on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Finally, Robert W. Baird lowered 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. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Academy Sports and Outdoors presently has a consensus rating of “Moderate Buy” and an average price target of $60.38.

Academy Sports and Outdoors Price Performance

NASDAQ ASO opened at $47.23 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57. The firm’s 50 day moving average price is $51.09 and its 200-day moving average price is $53.16. Academy Sports and Outdoors has a 52-week low of $43.16 and a 52-week high of $68.96. The company has a market cap of $3.28 billion, a PE ratio of 7.76, a P/E/G ratio of 1.02 and a beta of 1.25.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings data on Thursday, March 20th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 period last year, the firm earned $2.21 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis. Sell-side analysts forecast that Academy Sports and Outdoors will post 5.59 EPS for the current fiscal 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 annualized dividend and a dividend yield of 1.10%. The ex-dividend date 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%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ASO. Victory Capital Management Inc. raised its holdings in shares of Academy Sports and Outdoors by 15.3% during the third quarter. Victory Capital Management Inc. now owns 51,988 shares of the company’s stock worth $3,034,000 after purchasing an additional 6,894 shares during the last quarter. KBC Group NV raised its holdings in shares of Academy Sports and Outdoors by 24.3% during the third quarter. KBC Group NV now owns 2,084 shares of the company’s stock worth $122,000 after purchasing an additional 408 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Academy Sports and Outdoors during the third quarter worth $255,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Academy Sports and Outdoors during the third quarter worth $1,538,000. Finally, Intech Investment Management LLC purchased a new position in Academy Sports and Outdoors in the third 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.