Academy Sports and Outdoors (NASDAQ:ASO) Price Target Cut to $60.00 by Analysts at Wedbush

Academy Sports and Outdoors (NASDAQ:ASO) had its price objective lowered by research analysts at Wedbush from $65.00 to $60.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target indicates a potential upside of 26.00% from the company’s previous close.

A number of other research analysts also recently commented on the company. Truist Financial upped their price objective on Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird dropped their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday. UBS Group decreased their target price on shares of Academy Sports and Outdoors from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday. B. Riley cut their price target on Academy Sports and Outdoors from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley cut their target price on Academy Sports and Outdoors from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Academy Sports and Outdoors currently has an average rating of “Moderate Buy” and an average target price of $60.31.

Academy Sports and Outdoors Stock Up 0.4 %

NASDAQ:ASO traded up $0.20 on Friday, reaching $47.62. The stock had a trading volume of 583,882 shares, compared to its average volume of 1,593,810. Academy Sports and Outdoors has a 12-month low of $43.16 and a 12-month high of $68.96. The company has a 50-day moving average of $51.30 and a 200 day moving average of $53.22. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.30 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings data on Thursday, March 20th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.14. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. Academy Sports and Outdoors’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.21 earnings per share. On average, research analysts predict that Academy Sports and Outdoors will post 5.59 earnings per share for the current year.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of institutional investors have recently bought and sold shares of ASO. Geode Capital Management LLC increased its position in shares of Academy Sports and Outdoors by 2.6% in the third quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company’s stock worth $118,092,000 after acquiring an additional 50,715 shares in the last quarter. Citigroup Inc. raised its stake in Academy Sports and Outdoors by 66.4% during the 3rd quarter. Citigroup Inc. now owns 95,644 shares of the company’s stock valued at $5,582,000 after purchasing an additional 38,155 shares during the period. FMR LLC lifted its holdings in shares of Academy Sports and Outdoors by 15.3% in the third quarter. FMR LLC now owns 10,739,463 shares of the company’s stock valued at $626,755,000 after purchasing an additional 1,422,971 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Academy Sports and Outdoors by 14.6% during the fourth quarter. Bank of New York Mellon Corp now owns 712,226 shares of the company’s stock valued at $40,974,000 after buying an additional 90,592 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in Academy Sports and Outdoors in the 3rd quarter worth about $633,000.

Academy Sports and Outdoors Company Profile

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.