Academy Sports and Outdoors (NASDAQ:ASO) Sees Large Volume Increase

Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) saw strong trading volume on Tuesday . 626,169 shares changed hands during trading, a decline of 52% from the previous session’s volume of 1,297,568 shares.The stock last traded at $52.60 and had previously closed at $53.42.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ASO. Robert W. Baird lifted 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. TD Cowen decreased their price target on shares of Academy Sports and Outdoors from $86.00 to $82.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Wells Fargo & Company decreased their price target on shares of Academy Sports and Outdoors from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Truist Financial cut their price objective on shares of Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Academy Sports and Outdoors in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.40.

Academy Sports and Outdoors Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 1.87. The stock’s fifty day moving average price is $57.50 and its 200-day moving average price is $62.19. The company has a market capitalization of $3.70 billion, a P/E ratio of 7.44, a PEG ratio of 0.84 and a beta of 1.37.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Thursday, March 21st. The company reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.05). The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.78 billion. Academy Sports and Outdoors had a net margin of 8.43% and a return on equity of 28.99%. As a group, research analysts anticipate that Academy Sports and Outdoors, Inc. will post 6.68 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, June 20th will be issued a $0.11 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.88%. Academy Sports and Outdoors’s payout ratio is 6.55%.

Insider Activity at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total value of $72,000.00. Following the transaction, the director now owns 7,870 shares in the company, valued at approximately $472,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in shares of Academy Sports and Outdoors by 52.3% during the 4th quarter. Victory Capital Management Inc. now owns 46,454 shares of the company’s stock worth $3,066,000 after purchasing an additional 15,955 shares in the last quarter. Bryn Mawr Capital Management LLC acquired a new position in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $2,501,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Academy Sports and Outdoors by 23.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 370,715 shares of the company’s stock worth $24,467,000 after acquiring an additional 70,438 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $1,842,000. Finally, Meritage Portfolio Management lifted its holdings in shares of Academy Sports and Outdoors by 2.1% during the 4th quarter. Meritage Portfolio Management now owns 8,337 shares of the company’s stock worth $550,000 after acquiring an additional 174 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.