Academy Sports and Outdoors (NASDAQ:ASO) Announces Earnings Results

Academy Sports and Outdoors (NASDAQ:ASO) announced its quarterly earnings results on Tuesday. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02, FiscalAI reports. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Academy Sports and Outdoors had a return on equity of 17.88% and a net margin of 6.22%.

Academy Sports and Outdoors Price Performance

Shares of ASO stock opened at $51.67 on Tuesday. The firm has a fifty day moving average of $54.40 and a 200-day moving average of $54.59. Academy Sports and Outdoors has a 12-month low of $41.29 and a 12-month high of $62.44. The company has a quick ratio of 0.44, a current ratio of 1.89 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.80 and a beta of 1.04.

Academy Sports and Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, June 18th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, June 18th. Academy Sports and Outdoors’s payout ratio is presently 10.79%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ASO shares. Jefferies Financial Group restated a “buy” rating and set a $61.00 price target on shares of Academy Sports and Outdoors in a report on Tuesday, March 17th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a report on Tuesday, March 17th. Truist Financial set a $54.00 price target on shares of Academy Sports and Outdoors in a research note on Monday, April 20th. Wells Fargo & Company increased their price target on shares of Academy Sports and Outdoors from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Finally, UBS Group reduced their price target on shares of Academy Sports and Outdoors from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Academy Sports and Outdoors presently has a consensus rating of “Hold” and a consensus price target of $59.87.

Insiders Place Their Bets

In related news, Director Jeffrey C. Tweedy sold 4,000 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $60.00, for a total transaction of $240,000.00. Following the transaction, the director owned 7,835 shares of the company’s stock, valued at approximately $470,100. This trade represents a 33.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

Hedge funds have recently modified their holdings of the stock. Invesco Ltd. increased its holdings in Academy Sports and Outdoors by 128.2% in the fourth quarter. Invesco Ltd. now owns 833,769 shares of the company’s stock valued at $41,655,000 after purchasing an additional 468,457 shares during the period. XTX Topco Ltd grew its holdings in Academy Sports and Outdoors by 1,676.0% during the fourth quarter. XTX Topco Ltd now owns 77,912 shares of the company’s stock valued at $3,892,000 after purchasing an additional 73,525 shares during the period. Verdad Advisers LP bought a new position in shares of Academy Sports and Outdoors in the fourth quarter worth $749,000. Sona Asset Management US LLC purchased a new stake in Academy Sports and Outdoors during the fourth quarter valued at about $999,000. Finally, Polymer Capital Management US LLC bought a new position in shares of Academy Sports and Outdoors during the fourth quarter valued at about $554,000.

About Academy Sports and Outdoors

Academy Sports and Outdoors is a leading specialty retailer of sporting goods and outdoor gear, operating more than 260 stores across the United States. Headquartered in Katy, Texas, the company offers a broad assortment of merchandise spanning athletic footwear and apparel, team sports equipment, camping and outdoor recreation products, hunting and fishing supplies, and fitness accessories. In addition to its brick-and-mortar footprint, Academy serves customers through its e-commerce platform, offering online ordering, in-store pickup, and home delivery options.

The company’s product portfolio includes seasonal and year-round categories designed to meet the needs of both casual enthusiasts and serious athletes.