Academy Sports and Outdoors (NASDAQ:ASO) Shares Gap Up – Time to Buy?

Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) gapped up prior to trading on Tuesday . The stock had previously closed at $44.37, but opened at $46.62. Academy Sports and Outdoors shares last traded at $45.65, with a volume of 1,022,949 shares traded.

Analyst Upgrades and Downgrades

Several research firms have commented on ASO. Truist Financial lifted their target price on shares of Academy Sports and Outdoors from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday. Wedbush lowered their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. B. Riley lowered their price objective on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Robert W. Baird lowered their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, Loop Capital lowered their price objective on shares of Academy Sports and Outdoors from $77.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.31.

Academy Sports and Outdoors Trading Up 1.4%

The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28. The business’s 50 day moving average price is $40.25 and its 200-day moving average price is $47.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.38 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 EPS. Equities analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Thursday, June 19th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.15%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 9.01%.

Institutional Investors Weigh In On Academy Sports and Outdoors

Institutional investors and hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC acquired a new stake in Academy Sports and Outdoors during the fourth quarter worth about $52,402,000. Norges Bank acquired a new stake in Academy Sports and Outdoors during the fourth quarter worth about $47,436,000. Hood River Capital Management LLC acquired a new stake in Academy Sports and Outdoors during the fourth quarter worth about $42,320,000. American Century Companies Inc. raised its stake in Academy Sports and Outdoors by 77.2% during the fourth quarter. American Century Companies Inc. now owns 1,252,699 shares of the company’s stock worth $72,068,000 after acquiring an additional 545,778 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in Academy Sports and Outdoors by 36.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,992,997 shares of the company’s stock worth $90,901,000 after acquiring an additional 528,367 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.