Academy Sports and Outdoors (NASDAQ:ASO) Downgraded by Truist Financial to “Hold”

Truist Financial cut shares of Academy Sports and Outdoors (NASDAQ:ASO) from a buy rating to a hold rating in a report released on Tuesday, Marketbeat reports. They currently have $50.00 price objective on the stock, down from their previous price objective of $63.00.

ASO has been the topic of several other research reports. Telsey Advisory Group restated an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a research report on Thursday, September 5th. Evercore ISI cut Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $65.00 to $60.00 in a research note on Thursday, October 3rd. Wells Fargo & Company increased their target price on Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Loop Capital reissued a “buy” rating and issued a $77.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Academy Sports and Outdoors has an average rating of “Hold” and a consensus target price of $61.57.

Academy Sports and Outdoors Stock Down 1.2 %

Shares of ASO opened at $46.03 on Tuesday. The company has a market capitalization of $3.24 billion, a PE ratio of 7.10, a PEG ratio of 0.92 and a beta of 1.37. Academy Sports and Outdoors has a 12 month low of $44.73 and a 12 month high of $75.73. The stock’s 50-day moving average price is $54.62 and its two-hundred day moving average price is $54.13. 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 announced its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the business earned $2.01 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Academy Sports and Outdoors will post 6.02 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.44 annualized dividend and a dividend yield of 0.96%. Academy Sports and Outdoors’s payout ratio is currently 6.79%.

Insider Activity at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the completion of the sale, the director now owns 8,906 shares of the company’s stock, valued at $552,172. The trade was a 11.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.19% of the stock is currently owned by insiders.

Institutional Trading of Academy Sports and Outdoors

Large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new position in shares of Academy Sports and Outdoors in the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Academy Sports and Outdoors in the 3rd quarter valued at approximately $40,000. TD Private Client Wealth LLC purchased a new stake in shares of Academy Sports and Outdoors in the 3rd quarter valued at approximately $40,000. Farther Finance Advisors LLC grew its position in shares of Academy Sports and Outdoors by 98.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock valued at $43,000 after buying an additional 366 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Academy Sports and Outdoors in the 3rd quarter valued at $58,000.

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.