Academy Sports and Outdoors (NASDAQ:ASO) Releases FY24 Earnings Guidance

Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.70-7.75 for the period, compared to the consensus estimate of $7.79. The company issued revenue guidance of $6.5-6.7 billion, compared to the consensus revenue estimate of $6.72 billion. Academy Sports and Outdoors also updated its FY 2023 guidance to $7.00-$7.75 EPS.

Wall Street Analyst Weigh In

ASO has been the topic of a number of recent research reports. Guggenheim lifted their target price on Academy Sports and Outdoors to $63.00 in a research report on Monday, December 12th. The Goldman Sachs Group lifted their target price on Academy Sports and Outdoors from $65.00 to $72.00 and gave the company a buy rating in a research report on Friday, February 17th. UBS Group lifted their target price on Academy Sports and Outdoors from $60.00 to $76.00 and gave the company a buy rating in a research report on Thursday, December 8th. Wells Fargo & Company lifted their target price on Academy Sports and Outdoors from $70.00 to $75.00 and gave the company an overweight rating in a research report on Friday. Finally, Morgan Stanley lifted their target price on Academy Sports and Outdoors from $58.00 to $70.00 and gave the company an equal weight rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $71.21.

Academy Sports and Outdoors Stock Performance

Shares of NASDAQ ASO opened at $63.31 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.44. Academy Sports and Outdoors has a 12 month low of $25.10 and a 12 month high of $67.70. The stock has a 50 day moving average of $58.47 and a 200-day moving average of $51.38. The company has a market capitalization of $4.95 billion, a P/E ratio of 8.92, a P/E/G ratio of 0.80 and a beta of 1.14.

Academy Sports and Outdoors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Thursday, March 23rd will be paid a dividend of $0.09 per share. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Wednesday, March 22nd. Academy Sports and Outdoors’s payout ratio is currently 4.23%.

Insider Transactions at Academy Sports and Outdoors

In other news, SVP Manish Maini sold 45,000 shares of Academy Sports and Outdoors stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $54.32, for a total transaction of $2,444,400.00. Following the completion of the transaction, the senior vice president now directly owns 102,639 shares in the company, valued at approximately $5,575,350.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 148,059 shares of company stock worth $8,428,292. 3.51% of the stock is owned by company insiders.

Institutional Trading of Academy Sports and Outdoors

Several institutional investors have recently added to or reduced their stakes in ASO. BlackRock Inc. boosted its stake in Academy Sports and Outdoors by 124.0% in the 1st quarter. BlackRock Inc. now owns 13,562,648 shares of the company’s stock valued at $534,370,000 after purchasing an additional 7,507,589 shares during the period. State Street Corp boosted its stake in Academy Sports and Outdoors by 73.0% in the 1st quarter. State Street Corp now owns 2,834,137 shares of the company’s stock valued at $111,872,000 after purchasing an additional 1,196,076 shares during the period. Dimensional Fund Advisors LP raised its holdings in Academy Sports and Outdoors by 11,157.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,773 shares of the company’s stock valued at $42,542,000 after acquiring an additional 1,070,181 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Academy Sports and Outdoors by 680.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,147,500 shares of the company’s stock valued at $45,212,000 after acquiring an additional 1,000,500 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Academy Sports and Outdoors by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 9,462,337 shares of the company’s stock valued at $372,817,000 after acquiring an additional 958,800 shares in the last quarter. 94.63% of the stock is currently owned by institutional investors.

About Academy Sports and Outdoors

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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.