Wells Fargo & Company Issues Positive Forecast for Academy Sports and Outdoors (NASDAQ:ASO) Stock Price

Academy Sports and Outdoors (NASDAQ:ASO) had its target price raised by Wells Fargo & Company from $43.00 to $55.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other analysts have also issued research reports about the company. Telsey Advisory Group boosted their price target on Academy Sports and Outdoors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Truist Financial boosted their price target on Academy Sports and Outdoors from $45.00 to $47.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Monness Crespi & Hardt began coverage on Academy Sports and Outdoors in a report on Monday, August 4th. They issued a “buy” rating and a $65.00 price target for the company. UBS Group lowered their price target on Academy Sports and Outdoors from $54.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, June 4th. Finally, Loop Capital set a $65.00 price target on Academy Sports and Outdoors in a report on Monday, July 21st. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Academy Sports and Outdoors presently has an average rating of “Moderate Buy” and an average price target of $58.24.

Academy Sports and Outdoors Trading Down 0.6%

Shares of NASDAQ ASO opened at $54.81 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.29 and a current ratio of 1.52. The business’s 50 day moving average price is $49.37 and its 200-day moving average price is $46.36. Academy Sports and Outdoors has a fifty-two week low of $33.34 and a fifty-two week high of $64.61. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.03 and a beta of 1.30.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.13). Academy Sports and Outdoors had a return on equity of 19.62% and a net margin of 6.55%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, sell-side analysts expect that Academy Sports and Outdoors will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, June 19th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Academy Sports and Outdoors’s payout ratio is currently 9.56%.

Insider Transactions at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of Academy Sports and Outdoors stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $44.48, for a total value of $195,712.00. Following the transaction, the director directly owned 7,084 shares of the company’s stock, valued at approximately $315,096.32. The trade was a 38.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.62% of the company’s stock.

Institutional Trading of Academy Sports and Outdoors

Large investors have recently bought and sold shares of the stock. Huntington National Bank grew its position in Academy Sports and Outdoors by 214.6% during the 2nd quarter. Huntington National Bank now owns 689 shares of the company’s stock worth $31,000 after purchasing an additional 470 shares during the last quarter. Your Advocates Ltd. LLP grew its position in Academy Sports and Outdoors by 101.5% during the 1st quarter. Your Advocates Ltd. LLP now owns 816 shares of the company’s stock worth $37,000 after purchasing an additional 411 shares during the last quarter. LGT Financial Advisors LLC grew its position in Academy Sports and Outdoors by 1,041.7% during the 4th quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company’s stock worth $63,000 after purchasing an additional 1,000 shares during the last quarter. TD Private Client Wealth LLC grew its position in Academy Sports and Outdoors by 45.6% during the 1st quarter. TD Private Client Wealth LLC now owns 1,156 shares of the company’s stock worth $53,000 after purchasing an additional 362 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Academy Sports and Outdoors by 89.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,388 shares of the company’s stock worth $62,000 after purchasing an additional 657 shares during the last quarter.

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.