Academy Sports and Outdoors (NASDAQ:ASO) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) in a report released on Tuesday morning, The Fly reports. The firm issued a buy rating and a $73.00 target price on the stock.

A number of other brokerages have also weighed in on ASO. 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 research report on Friday, February 17th. Cowen assumed coverage on Academy Sports and Outdoors in a research report on Thursday, February 16th. They issued an outperform rating and a $72.00 price objective on the stock. Wedbush lifted their price objective on Academy Sports and Outdoors from $57.00 to $62.00 and gave the stock an outperform rating in a research report on Thursday, December 8th. Wells Fargo & Company lifted their price target on Academy Sports and Outdoors from $56.00 to $70.00 and gave the company an overweight rating in a research report on Thursday, December 8th. Finally, UBS Group upped their price target on Academy Sports and Outdoors from $60.00 to $76.00 and gave the stock a buy rating in a research note on Thursday, December 8th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $66.57.

Academy Sports and Outdoors Price Performance

Shares of ASO stock opened at $59.97 on Tuesday. The firm has a market cap of $4.69 billion, a P/E ratio of 8.45, a P/E/G ratio of 0.78 and a beta of 1.14. Academy Sports and Outdoors has a fifty-two week low of $25.10 and a fifty-two week high of $63.89. The business’s 50 day moving average price is $57.83 and its 200-day moving average price is $51.04. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.32 and a current ratio of 1.57.

Academy Sports and Outdoors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Thursday, March 23rd will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.60%. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, March 22nd. Academy Sports and Outdoors’s payout ratio is 5.07%.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, SVP Manish Maini sold 102,328 shares of the business’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $58.04, for a total value of $5,939,117.12. Following the sale, the senior vice president now directly owns 103,929 shares of the company’s stock, valued at $6,032,039.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 148,059 shares of company stock valued at $8,428,292. 3.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Key Colony Management LLC bought a new position in shares of Academy Sports and Outdoors during the third quarter valued at $2,109,000. Martingale Asset Management L P bought a new position in shares of Academy Sports and Outdoors during the second quarter valued at $868,000. Russell Investments Group Ltd. lifted its holdings in Academy Sports and Outdoors by 31.9% in the third quarter. Russell Investments Group Ltd. now owns 107,745 shares of the company’s stock valued at $4,542,000 after acquiring an additional 26,062 shares during the period. AlphaCrest Capital Management LLC bought a new position in Academy Sports and Outdoors in the second quarter valued at about $307,000. Finally, King Luther Capital Management Corp lifted its holdings in Academy Sports and Outdoors by 384.7% in the second quarter. King Luther Capital Management Corp now owns 863,055 shares of the company’s stock valued at $30,673,000 after acquiring an additional 685,005 shares during the period. 94.63% of the stock is owned by institutional investors.

Academy Sports and Outdoors Company Profile

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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.