Academy Sports and Outdoors (NASDAQ:ASO) Sees Unusually-High Trading Volume

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) saw strong trading volume on Tuesday . 1,792,746 shares traded hands during mid-day trading, an increase of 24% from the previous session’s volume of 1,451,558 shares.The stock last traded at $56.26 and had previously closed at $52.64.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial lowered their price objective on shares of Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Morgan Stanley dropped their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 12th. Wedbush restated an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a research note on Thursday, September 5th. Evercore ISI increased their price target on Academy Sports and Outdoors from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Finally, TD Cowen cut Academy Sports and Outdoors from a “buy” rating to a “hold” rating and lowered their price objective for the company from $58.00 to $54.00 in a research note on Tuesday, August 13th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.93.

Academy Sports and Outdoors Price Performance

The stock has a market capitalization of $3.99 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 0.92 and a beta of 1.34. The business’s 50-day moving average price is $53.19 and its 200 day moving average price is $57.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.62.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its earnings results on Tuesday, June 11th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.11). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.25 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Thursday, September 19th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is currently 6.73%.

Insider Activity at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total value of $33,906.25. Following the completion of the transaction, the director now owns 10,106 shares in the company, valued at $548,250.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASO. Mitsubishi UFJ Trust & Banking Corp lifted its position in Academy Sports and Outdoors by 3.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock valued at $548,000 after acquiring an additional 250 shares in the last quarter. Trust Investment Advisors grew its position in Academy Sports and Outdoors by 1.8% in the 2nd quarter. Trust Investment Advisors now owns 15,030 shares of the company’s stock worth $800,000 after purchasing an additional 266 shares during the period. Great Valley Advisor Group Inc. raised its stake in Academy Sports and Outdoors by 3.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock valued at $409,000 after buying an additional 269 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Academy Sports and Outdoors by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,410 shares of the company’s stock valued at $1,875,000 after buying an additional 276 shares during the period. Finally, Moody National Bank Trust Division grew its holdings in shares of Academy Sports and Outdoors by 2.1% in the first quarter. Moody National Bank Trust Division now owns 13,487 shares of the company’s stock worth $911,000 after acquiring an additional 276 shares during the period.

Academy Sports and Outdoors Company Profile

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.