Academy Sports and Outdoors (NASDAQ:ASO) Trading Down 16.7% – Here’s Why

Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) dropped 16.7% during trading on Thursday . The company traded as low as $40.35 and last traded at $39.68. Approximately 395,724 shares were traded during trading, a decline of 75% from the average daily volume of 1,562,923 shares. The stock had previously closed at $47.63.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Cowen increased their price objective on Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on shares of Academy Sports and Outdoors from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Morgan Stanley cut their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Robert W. Baird decreased their target price on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, Wedbush cut their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.69.

Academy Sports and Outdoors Stock Performance

The company has a quick ratio of 0.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $49.49 and a 200-day simple moving average of $52.51. The company has a market capitalization of $2.52 billion, a P/E ratio of 6.17, a PEG ratio of 1.02 and a beta of 1.26.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Thursday, March 20th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.14. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm posted $2.21 EPS. Equities analysts forecast that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, March 25th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 1.38%. Academy Sports and Outdoors’s dividend payout ratio is 9.01%.

Hedge Funds Weigh In On Academy Sports and Outdoors

Institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC acquired a new position in shares of Academy Sports and Outdoors during the fourth quarter worth approximately $52,402,000. Norges Bank bought a new position in Academy Sports and Outdoors in the 4th quarter worth approximately $47,436,000. Stephens Investment Management Group LLC lifted its holdings in Academy Sports and Outdoors by 331.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 959,680 shares of the company’s stock worth $55,210,000 after buying an additional 737,212 shares in the last quarter. Hood River Capital Management LLC bought a new position in Academy Sports and Outdoors in the 4th quarter valued at $42,320,000. Finally, American Century Companies Inc. increased its stake in shares of Academy Sports and Outdoors by 77.2% in the 4th quarter. American Century Companies Inc. now owns 1,252,699 shares of the company’s stock valued at $72,068,000 after buying an additional 545,778 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.