Wells Fargo & Company Lowers Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $80.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target trimmed by Wells Fargo & Company from $83.00 to $80.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group assumed coverage on Academy Sports and Outdoors in a report on Friday, April 12th. They issued a buy rating and a $85.00 price target on the stock. TD Cowen cut their target price on shares of Academy Sports and Outdoors from $86.00 to $82.00 and set an outperform rating on the stock in a research note on Friday, March 22nd. B. Riley reissued a buy rating and set a $72.00 target price (up from $65.00) on shares of Academy Sports and Outdoors in a research note on Monday, March 25th. Robert W. Baird boosted their target price on shares of Academy Sports and Outdoors from $70.00 to $80.00 and gave the company an outperform rating in a research note on Friday, March 22nd. Finally, Evercore ISI cut their target price on shares of Academy Sports and Outdoors from $75.00 to $70.00 and set an outperform rating on the stock in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Academy Sports and Outdoors currently has an average rating of Moderate Buy and a consensus price target of $73.82.

Academy Sports and Outdoors Price Performance

NASDAQ ASO opened at $60.72 on Thursday. The stock has a market capitalization of $4.48 billion, a P/E ratio of 9.04, a P/E/G ratio of 0.89 and a beta of 1.35. Academy Sports and Outdoors has a 1 year low of $42.83 and a 1 year high of $75.73. The business’s fifty day moving average is $66.19 and its two-hundred day moving average is $60.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 1.87.

Academy Sports and Outdoors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, March 26th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, March 25th. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.72%. Academy Sports and Outdoors’s dividend payout ratio is 6.55%.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. Following the transaction, the director now directly owns 7,870 shares of the company’s stock, valued at $472,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Academy Sports and Outdoors

Hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in Academy Sports and Outdoors during the fourth quarter valued at about $47,768,000. Point72 Asset Management L.P. boosted its holdings in Academy Sports and Outdoors by 36.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock valued at $137,878,000 after acquiring an additional 559,414 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Academy Sports and Outdoors during the fourth quarter valued at about $25,933,000. LSV Asset Management boosted its holdings in Academy Sports and Outdoors by 28.4% during the fourth quarter. LSV Asset Management now owns 1,652,541 shares of the company’s stock valued at $109,068,000 after acquiring an additional 365,855 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Academy Sports and Outdoors by 953.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 403,467 shares of the company’s stock valued at $26,629,000 after acquiring an additional 365,168 shares during the period.

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.