Citigroup Initiates Coverage on Academy Sports and Outdoors (NASDAQ:ASO)

Citigroup started coverage on shares of Academy Sports and Outdoors (NASDAQ:ASO) in a research note released on Wednesday, Marketbeat reports. The firm issued a buy rating and a $65.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company boosted their price objective on Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Loop Capital restated a “buy” rating and set a $77.00 price target on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Wedbush reissued an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, December 11th. Evercore ISI lowered shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $65.00 to $60.00 in a report on Thursday, October 3rd. Finally, Robert W. Baird dropped their target price on Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.33.

Academy Sports and Outdoors Price Performance

Shares of Academy Sports and Outdoors stock traded down $0.54 during trading hours on Wednesday, reaching $55.41. The company’s stock had a trading volume of 173,999 shares, compared to its average volume of 1,476,667. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 0.41. Academy Sports and Outdoors has a one year low of $44.73 and a one year high of $75.73. The firm has a 50 day moving average price of $51.46 and a 200-day moving average price of $53.43. The stock has a market cap of $3.85 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.06 and a beta of 1.31.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.30). The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. Academy Sports and Outdoors’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 earnings per share. On average, analysts predict that Academy Sports and Outdoors will post 5.92 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, December 18th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.44 dividend on an annualized basis and a yield of 0.79%. Academy Sports and Outdoors’s payout ratio is currently 7.22%.

Institutional Trading of Academy Sports and Outdoors

Several large investors have recently bought and sold shares of the business. CWM LLC grew its holdings in Academy Sports and Outdoors by 4.6% in the 3rd quarter. CWM LLC now owns 4,480 shares of the company’s stock valued at $261,000 after buying an additional 196 shares in the last quarter. Simmons Bank grew its holdings in shares of Academy Sports and Outdoors by 1.9% in the third quarter. Simmons Bank now owns 10,860 shares of the company’s stock valued at $634,000 after purchasing an additional 200 shares during the period. Daymark Wealth Partners LLC grew its holdings in shares of Academy Sports and Outdoors by 1.3% in the third quarter. Daymark Wealth Partners LLC now owns 15,403 shares of the company’s stock valued at $899,000 after purchasing an additional 203 shares during the period. Trust Investment Advisors increased its position in Academy Sports and Outdoors by 1.8% during the second quarter. Trust Investment Advisors now owns 15,030 shares of the company’s stock worth $800,000 after purchasing an additional 266 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its stake in Academy Sports and Outdoors by 10.7% during the second quarter. Benjamin Edwards Inc. now owns 3,011 shares of the company’s stock worth $160,000 after purchasing an additional 290 shares during the period.

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.