Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Rating)’s stock price was down 4.8% during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $70.00 to $61.00. The stock traded as low as $48.66 and last traded at $48.90. Approximately 1,452,343 shares were traded during trading, an increase of 1% from the average daily volume of 1,444,514 shares. The stock had previously closed at $51.37.
Several other equities analysts have also commented on the company. Guggenheim upped their price target on Academy Sports and Outdoors from $70.00 to $73.00 in a research note on Monday, May 1st. Morgan Stanley lifted their price target on shares of Academy Sports and Outdoors from $58.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, March 17th. Gordon Haskett began coverage on shares of Academy Sports and Outdoors in a report on Friday, April 28th. They issued an “accumulate” rating and a $73.00 price objective on the stock. Oppenheimer upped their target price on shares of Academy Sports and Outdoors from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 17th. Finally, Jefferies Financial Group assumed coverage on shares of Academy Sports and Outdoors in a research note on Tuesday, March 14th. They issued a “buy” rating and a $73.00 price target for the company. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its position in Academy Sports and Outdoors by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 424,858 shares of the company’s stock worth $27,726,000 after purchasing an additional 98,947 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Academy Sports and Outdoors by 7.3% in the 1st quarter. JPMorgan Chase & Co. now owns 874,923 shares of the company’s stock valued at $57,089,000 after acquiring an additional 59,431 shares during the period. Centaurus Financial Inc. boosted its position in Academy Sports and Outdoors by 3.6% during the 1st quarter. Centaurus Financial Inc. now owns 4,975 shares of the company’s stock worth $325,000 after purchasing an additional 175 shares during the period. Advisory Services Network LLC increased its holdings in Academy Sports and Outdoors by 139.2% in the 1st quarter. Advisory Services Network LLC now owns 421 shares of the company’s stock valued at $27,000 after purchasing an additional 245 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Academy Sports and Outdoors by 18,617.4% in the first quarter. Rockefeller Capital Management L.P. now owns 31,258 shares of the company’s stock valued at $2,039,000 after purchasing an additional 31,091 shares during the period. 94.63% of the stock is currently owned by hedge funds and other institutional investors.
Academy Sports and Outdoors Stock Performance
Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last released its quarterly earnings results on Thursday, March 16th. The company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.16. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.79 billion. Academy Sports and Outdoors had a net margin of 9.82% and a return on equity of 41.09%. During the same period last year, the business earned $1.61 EPS. As a group, analysts predict that Academy Sports and Outdoors, Inc. will post 7.28 EPS for the current year.
Academy Sports and Outdoors Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 13th. Investors of record on Thursday, June 15th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Wednesday, June 14th. Academy Sports and Outdoors’s dividend payout ratio is currently 4.80%.
Academy Sports and Outdoors Company Profile
Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racket sports, and volleyball; fitness equipment and accessories, and nutrition supplies; and patio furniture, outdoor cooking, wheeled goods, trampolines, playsets, watersports, and pet equipment, as well as electronics products, watches, consumables, batteries, etc.
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