Cambridge Investment Research Advisors Inc. Buys 3,129 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Posted by Defense World Staff on Oct 1st, 2023

Cambridge Investment Research Advisors Inc. increased its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Free Report) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,366 shares of the company’s stock after acquiring an additional 3,129 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Academy Sports and Outdoors were worth $2,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ASO. Advisory Services Network LLC lifted its position in Academy Sports and Outdoors by 139.2% during the first quarter. Advisory Services Network LLC now owns 421 shares of the company’s stock valued at $27,000 after purchasing an additional 245 shares during the last quarter. Optimum Investment Advisors bought a new position in Academy Sports and Outdoors during the first quarter valued at $33,000. Captrust Financial Advisors lifted its position in Academy Sports and Outdoors by 55.0% during the first quarter. Captrust Financial Advisors now owns 1,006 shares of the company’s stock valued at $40,000 after purchasing an additional 357 shares during the last quarter. Tucker Asset Management LLC bought a new position in Academy Sports and Outdoors during the first quarter valued at $47,000. Finally, Archer Investment Corp bought a new position in Academy Sports and Outdoors during the first quarter valued at $85,000.

Wall Street Analyst Weigh In

ASO has been the subject of several research reports. Evercore ISI lowered their price objective on shares of Academy Sports and Outdoors from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, September 1st. Robert W. Baird lowered their target price on shares of Academy Sports and Outdoors from $75.00 to $70.00 in a report on Wednesday, June 7th. Bank of America lowered their target price on shares of Academy Sports and Outdoors from $85.00 to $75.00 in a report on Wednesday, June 7th. Morgan Stanley raised their target price on shares of Academy Sports and Outdoors from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, September 1st. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $72.00 target price on shares of Academy Sports and Outdoors in a report on Tuesday, August 29th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.24.

Get Our Latest Stock Report on Academy Sports and Outdoors

Academy Sports and Outdoors Trading Up 0.6 %

NASDAQ ASO opened at $47.27 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.40 and a current ratio of 1.68. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 6.96, a price-to-earnings-growth ratio of 0.56 and a beta of 1.20. The company’s 50-day simple moving average is $52.87 and its two-hundred day simple moving average is $62.34. Academy Sports and Outdoors, Inc. has a one year low of $40.67 and a one year high of $69.02.

Academy Sports and Outdoors (NASDAQ:ASO – Get Free Report) last posted its earnings results on Thursday, August 31st. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.10. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Academy Sports and Outdoors had a net margin of 8.71% and a return on equity of 32.91%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.30 EPS. Equities analysts forecast that Academy Sports and Outdoors, Inc. will post 6.87 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Stockholders of record on Wednesday, September 13th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, September 12th. Academy Sports and Outdoors’s dividend payout ratio is currently 5.30%.

Insider Activity

In other news, EVP Samuel J. Johnson sold 40,531 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $50.03, for a total value of $2,027,765.93. Following the sale, the executive vice president now directly owns 70,303 shares in the company, valued at approximately $3,517,259.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Samuel J. Johnson sold 40,531 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $50.03, for a total value of $2,027,765.93. Following the sale, the executive vice president now directly owns 70,303 shares in the company, valued at approximately $3,517,259.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey C. Tweedy sold 700 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $46.66, for a total transaction of $32,662.00. Following the completion of the sale, the director now owns 11,200 shares in the company, valued at $522,592. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,531 shares of company stock worth $2,075,260. Corporate insiders own 3.56% of the company’s stock.

Academy Sports and Outdoors Profile

(Free Report)

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, camping accessories and equipment, sunglasses, backpacks, and sports bags; 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, optics, airguns, and hunting equipment.