Loop Capital Reaffirms “Buy” Rating for Academy Sports and Outdoors (NASDAQ:ASO)

Academy Sports and Outdoors (NASDAQ:ASO)‘s stock had its “buy” rating reissued by investment analysts at Loop Capital in a note issued to investors on Monday, Benzinga reports. They currently have a $77.00 target price on the stock. Loop Capital’s price target points to a potential upside of 44.60% from the company’s previous close.

Several other research firms have also recently commented on ASO. Truist Financial cut their price target on Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating for the company in a report on Monday, June 10th. Jefferies Financial Group initiated coverage on Academy Sports and Outdoors in a report on Friday, April 12th. They issued a “buy” rating and a $85.00 target price for the company. Morgan Stanley cut their price target 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. B. Riley reiterated a “buy” rating and set a $72.00 target price (up previously from $65.00) on shares of Academy Sports and Outdoors in a research report on Monday, March 25th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $75.00 target price on shares of Academy Sports and Outdoors in a research report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Academy Sports and Outdoors has a consensus rating of “Moderate Buy” and an average target price of $67.87.

Academy Sports and Outdoors Stock Down 0.1 %

Academy Sports and Outdoors stock opened at $53.25 on Monday. Academy Sports and Outdoors has a fifty-two week low of $42.83 and a fifty-two week high of $75.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.62. The company has a market cap of $3.84 billion, a PE ratio of 8.14, a PEG ratio of 0.89 and a beta of 1.34. The business’s 50-day simple moving average is $55.51 and its two-hundred day simple moving average is $62.15.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 EPS. Equities analysts anticipate that Academy Sports and Outdoors will post 6.4 EPS for the current year.

Insider Buying and Selling

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total value of $72,000.00. Following the completion of the transaction, the director now directly owns 7,870 shares of the company’s stock, valued at approximately $472,200. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in Academy Sports and Outdoors during the fourth quarter worth approximately $47,768,000. Point72 Asset Management L.P. raised its holdings in Academy Sports and Outdoors by 36.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock worth $137,878,000 after purchasing an additional 559,414 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Academy Sports and Outdoors during the fourth quarter worth approximately $25,933,000. LSV Asset Management raised its holdings in Academy Sports and Outdoors by 28.4% during the fourth quarter. LSV Asset Management now owns 1,652,541 shares of the company’s stock worth $109,068,000 after purchasing an additional 365,855 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Academy Sports and Outdoors by 953.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 403,467 shares of the company’s stock worth $26,629,000 after purchasing an additional 365,168 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.