Morgan Stanley Has Lowered Expectations for Academy Sports and Outdoors (NASDAQ:ASO) Stock Price

Academy Sports and Outdoors (NASDAQ:ASO) had its price target reduced by equities researchers at Morgan Stanley from $60.00 to $55.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 16.45% from the company’s previous close.

A number of other analysts have also weighed in on the company. Robert W. Baird dropped their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday. Telsey Advisory Group reissued an “outperform” rating and set a $60.00 price objective on shares of Academy Sports and Outdoors in a research note on Monday, March 17th. Truist Financial increased their price objective on 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. TD Cowen increased their price objective on 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, Citigroup dropped their price objective on 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. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Academy Sports and Outdoors presently has an average rating of “Moderate Buy” and a consensus target price of $60.38.

Academy Sports and Outdoors Stock Down 0.4 %

Shares of ASO opened at $47.23 on Friday. The firm has a market cap of $3.28 billion, a P/E ratio of 7.76, a P/E/G ratio of 1.02 and a beta of 1.25. The stock has a 50 day simple moving average of $51.09 and a two-hundred day simple moving average of $53.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 0.32. Academy Sports and Outdoors has a 1 year low of $43.16 and a 1 year high of $68.96.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Thursday, March 20th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.14. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. Academy Sports and Outdoors’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 earnings per share. On average, analysts forecast that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Academy Sports and Outdoors

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Academy Sports and Outdoors by 2.6% during the third quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company’s stock valued at $118,092,000 after buying an additional 50,715 shares during the period. Citigroup Inc. lifted its position in Academy Sports and Outdoors by 66.4% during the third quarter. Citigroup Inc. now owns 95,644 shares of the company’s stock valued at $5,582,000 after buying an additional 38,155 shares during the period. FMR LLC lifted its position in Academy Sports and Outdoors by 15.3% during the third quarter. FMR LLC now owns 10,739,463 shares of the company’s stock valued at $626,755,000 after buying an additional 1,422,971 shares during the period. Bank of New York Mellon Corp lifted its position in Academy Sports and Outdoors by 14.6% during the fourth quarter. Bank of New York Mellon Corp now owns 712,226 shares of the company’s stock valued at $40,974,000 after buying an additional 90,592 shares during the period. Finally, Qsemble Capital Management LP purchased a new position in Academy Sports and Outdoors during the third quarter valued at $633,000.

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.