Academy Sports and Outdoors (NASDAQ:ASO) Shares Gap Down to $58.26

Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Rating) shares gapped down before the market opened on Friday . The stock had previously closed at $58.26, but opened at $56.95. Academy Sports and Outdoors shares last traded at $54.25, with a volume of 1,398,278 shares.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ASO. Cowen began coverage on Academy Sports and Outdoors in a research report on Thursday, February 16th. They set an “outperform” rating and a $72.00 target price on the stock. Cowen began coverage on Academy Sports and Outdoors in a research report on Thursday, February 16th. They set an “outperform” rating and a $72.00 target price on the stock. The Goldman Sachs Group increased their target price on Academy Sports and Outdoors from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Jefferies Financial Group began coverage on Academy Sports and Outdoors in a research report on Tuesday, March 14th. They set a “buy” rating and a $73.00 target price on the stock. Finally, Oppenheimer increased their target price on Academy Sports and Outdoors from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, March 17th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Academy Sports and Outdoors Price Performance

The stock has a 50 day simple moving average of $63.06 and a two-hundred day simple moving average of $57.07. The firm has a market cap of $4.15 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 0.65 and a beta of 1.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.39 and a current ratio of 1.62.

Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last released its quarterly earnings data on Thursday, March 16th. The company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.16. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.79 billion. Academy Sports and Outdoors had a return on equity of 41.09% and a net margin of 9.82%. During the same quarter last year, the business posted $1.61 EPS. Sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 7.18 earnings per share for the current year.

Academy Sports and Outdoors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 13th. Investors of record on Thursday, March 23rd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Wednesday, March 22nd. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.08. Academy Sports and Outdoors’s payout ratio is currently 4.80%.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several institutional investors and hedge funds have recently modified their holdings of ASO. Romano Brothers AND Company purchased a new position in shares of Academy Sports and Outdoors in the 4th quarter valued at about $26,000. Advisory Services Network LLC boosted its holdings in Academy Sports and Outdoors by 139.2% in the 1st quarter. Advisory Services Network LLC now owns 421 shares of the company’s stock worth $27,000 after buying an additional 245 shares during the last quarter. CWM LLC boosted its holdings in Academy Sports and Outdoors by 135.1% in the 3rd quarter. CWM LLC now owns 757 shares of the company’s stock worth $32,000 after buying an additional 435 shares during the last quarter. Optimum Investment Advisors acquired a new stake in Academy Sports and Outdoors in the 1st quarter worth about $33,000. Finally, CI Investments Inc. acquired a new stake in Academy Sports and Outdoors in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 94.63% of the company’s stock.

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.