Truist Financial Forecasts Strong Price Appreciation for Academy Sports and Outdoors (NASDAQ:ASO) Stock

Academy Sports and Outdoors (NASDAQ:ASO) had its target price upped by Truist Financial from $50.00 to $51.00 in a report issued on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other equities analysts also recently issued reports about the stock. Loop Capital restated a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Wedbush reissued an “outperform” rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Telsey Advisory Group lowered their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Jefferies Financial Group decreased their target price on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Evercore ISI lowered shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $65.00 to $60.00 in a research report on Thursday, October 3rd. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.07.

Academy Sports and Outdoors Stock Up 1.9 %

NASDAQ:ASO opened at $54.31 on Wednesday. The stock has a 50-day simple moving average of $51.41 and a 200 day simple moving average of $53.48. Academy Sports and Outdoors has a 52-week low of $44.73 and a 52-week high of $75.73. The company has a market cap of $3.77 billion, a PE ratio of 8.92, a PEG ratio of 1.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.57.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.30). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.39 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 was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 earnings per share. On average, sell-side analysts expect that Academy Sports and Outdoors will post 5.92 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, December 18th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.44 dividend on an annualized basis and a yield of 0.81%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is currently 7.22%.

Insiders Place Their Bets

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total transaction of $74,400.00. Following the transaction, the director now owns 8,906 shares in the company, valued at approximately $552,172. This trade represents a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Academy Sports and Outdoors in the third quarter valued at about $28,000. V Square Quantitative Management LLC bought a new stake in Academy Sports and Outdoors in the 3rd quarter valued at about $40,000. TD Private Client Wealth LLC acquired a new position in shares of Academy Sports and Outdoors during the 3rd quarter worth approximately $40,000. Farther Finance Advisors LLC increased its holdings in shares of Academy Sports and Outdoors by 98.4% during the third quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock worth $43,000 after purchasing an additional 366 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Academy Sports and Outdoors in the third quarter valued at approximately $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.