TD Cowen Forecasts Strong Price Appreciation for Academy Sports and Outdoors (NASDAQ:ASO) Stock

Academy Sports and Outdoors (NASDAQ:ASO) had its price target boosted by stock analysts at TD Cowen from $54.00 to $61.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price indicates a potential upside of 3.64% from the company’s previous close.

Several other brokerages have also recently weighed in on ASO. Wells Fargo & Company boosted their price objective on Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Morgan Stanley restated an “equal weight” rating and issued a $60.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Loop Capital reiterated a “buy” rating and set a $77.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Wedbush reissued an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group decreased 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 Thursday, December 5th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.67.

Academy Sports and Outdoors Trading Up 2.2 %

ASO opened at $58.86 on Wednesday. Academy Sports and Outdoors has a 1-year low of $44.73 and a 1-year high of $75.73. The firm has a 50-day moving average price of $52.78 and a two-hundred day moving average price of $53.82. The stock has a market capitalization of $4.08 billion, a PE ratio of 9.67, a PEG ratio of 1.06 and a beta of 1.25. The company has a current ratio of 1.57, 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, December 10th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.30). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.38 earnings per share. As a group, equities analysts anticipate that Academy Sports and Outdoors will post 5.92 earnings per share for the current fiscal year.

Institutional Trading of Academy Sports and Outdoors

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Doliver Advisors LP grew its position in Academy Sports and Outdoors by 43.6% in the fourth quarter. Doliver Advisors LP now owns 7,735 shares of the company’s stock valued at $445,000 after purchasing an additional 2,350 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Academy Sports and Outdoors by 2.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,132 shares of the company’s stock valued at $19,033,000 after acquiring an additional 8,848 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Academy Sports and Outdoors by 0.6% in the third quarter. Franklin Resources Inc. now owns 95,822 shares of the company’s stock valued at $5,139,000 after acquiring an additional 576 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Academy Sports and Outdoors by 94.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,300 shares of the company’s stock worth $484,000 after acquiring an additional 4,038 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Academy Sports and Outdoors during the third quarter valued at approximately $306,000.

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.