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→ Urgent Warning (From Weiss Ratings)
Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Rating) – Research analysts at Wedbush lowered their Q1 2024 earnings per share (EPS) estimates for Academy Sports and Outdoors in a note issued to investors on Friday, March 10th. Wedbush analyst S. Basham now anticipates that the company will post earnings of $1.77 per share for the quarter, down from their previous forecast of $1.84. Wedbush currently has a “Outperform” rating and a $62.00 target price on the stock. The consensus estimate for Academy Sports and Outdoors’ current full-year earnings is $7.39 per share. Wedbush also issued estimates for Academy Sports and Outdoors’ Q2 2024 earnings at $2.25 EPS and Q3 2024 earnings at $1.62 EPS.
Other analysts have also issued research reports about the company. Loop Capital lifted their price objective on Academy Sports and Outdoors from $60.00 to $65.00 in a report on Wednesday, December 14th. UBS Group lifted their price objective on Academy Sports and Outdoors from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, December 8th. The Goldman Sachs Group lifted their price objective on Academy Sports and Outdoors from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, February 17th. Cowen assumed coverage on Academy Sports and Outdoors in a report on Thursday, February 16th. They issued an “outperform” rating and a $72.00 price objective for the company. Finally, Cowen assumed coverage on Academy Sports and Outdoors in a report on Thursday, February 16th. They set an “outperform” rating and a $72.00 price target for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.08.
Academy Sports and Outdoors Stock Performance
Shares of ASO opened at $59.87 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.57 and a quick ratio of 0.32. Academy Sports and Outdoors has a one year low of $25.10 and a one year high of $63.89. The firm has a market capitalization of $4.68 billion, a P/E ratio of 8.43, a PEG ratio of 0.78 and a beta of 1.14. The business has a fifty day moving average of $57.53 and a 200 day moving average of $50.85.
Institutional Investors Weigh In On Academy Sports and Outdoors
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC raised its position in Academy Sports and Outdoors by 123.6% during the fourth quarter. Voya Investment Management LLC now owns 147,107 shares of the company’s stock valued at $7,729,000 after purchasing an additional 81,318 shares during the period. Natixis purchased a new stake in Academy Sports and Outdoors during the fourth quarter valued at approximately $3,652,000. Alamar Capital Management LLC purchased a new stake in Academy Sports and Outdoors during the fourth quarter valued at approximately $1,884,000. B. Riley Wealth Advisors Inc. raised its position in Academy Sports and Outdoors by 15.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,542 shares of the company’s stock valued at $1,028,000 after purchasing an additional 2,675 shares during the period. Finally, Truist Financial Corp raised its position in Academy Sports and Outdoors by 120.1% during the fourth quarter. Truist Financial Corp now owns 29,231 shares of the company’s stock valued at $1,536,000 after purchasing an additional 15,953 shares during the period. 94.63% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Academy Sports and Outdoors
In related news, SVP Manish Maini sold 45,000 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $54.32, for a total value of $2,444,400.00. Following the sale, the senior vice president now directly owns 102,639 shares in the company, valued at $5,575,350.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 148,659 shares of company stock valued at $8,463,002 over the last 90 days. Company insiders own 3.51% of the company’s stock.
Academy Sports and Outdoors Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Thursday, March 23rd will be paid a $0.09 dividend. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, March 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.60%. Academy Sports and Outdoors’s dividend payout ratio is 4.23%.
About Academy Sports and Outdoors
Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racket sports, and volleyball; fitness equipment and accessories, and nutrition supplies; and patio furniture, outdoor cooking, wheeled goods, trampolines, playsets, watersports, and pet equipment, as well as electronics products, watches, consumables, batteries, etc.
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